The Financial Accountability Regime Bill 2021 and Financial Services Compensation Scheme of Last Resort (“CSLR”) Levy Bill 2021 and related bills were referred to the Senate Economics Legislation Committee (“Committee”) for inquiry and report by 15 February 2022. 

Spiro Premetis has started at the FSC as our Executive Director for Advocacy, bringing with him extensive experience in financial services policy and politics.

As we draw stumps for 2021, it’s natural that we may feel in some way compelled to look back and reflect on the year we’ve, at times, had to struggle to get through. 

The financial services industry is closing out a challenging 2021, not only as a result of the continuing reverberations from COVID-19, but due to the significant waves of regulation that were implemented or commenced operation.

The Modern Slavery Amendment Bill 2021 has been passed by New South Wales Parliament on 14 October 2021. This Bill amends the Modern Slavery Act 2018 (NSW), with the amended Bill will now commencing on 1 January 2022.

ASIC asked Deloitte Access Economics to undertake independent research examining competition in the funds management sector with a focus on the outcomes that the industry is delivering for investors in retail managed investment schemes.