Australia

Details

  • Service: Topics, Financial Services Regulation, Financial System Inquiry
  • Industry: Financial Services
  • Type: Regulatory update
  • Date: 31/03/2014

KPMG's submission to the Financial System Inquiry 

KPMG welcomes the Financial System Inquiry as an opportunity to examine and improve a broadly sound financial system and regulatory architecture.

As international and domestic markets evolve to respond to the changes in consumer behaviour, patterns of trade and investment, funding, ageing demographics and new technology, the Australian financial system and regulatory framework should adapt to ensure both a stable and efficient market, as well as an environment that supports innovation and economic growth.

 

Summary of our observations and recommendations

  • Improving our regulatory framework to better balance stability, growth and efficiency.
  • Promoting greater regional integration and regulatory harmonisation with Asia.
  • Enhancing diversification of funding and supporting superannuation investment in long-term asset classes.
  • Re-purposing the superannuation system to better address longevity risk.
  • Enabling the take-up of digital and new payments services to boost productivity and addressing emerging technology risks.

 

KPMG's response to the Financial System Inquiry Interim Report

Our submission in response to the FSI Interim Report focuses on a selection of key issues we believe require greater attention and consideration.
 

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Financial System Inquiry

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