Original article by James Eyers
The Australian Financial Review – Page: 21 : 1-Sep-17
Federal Treasurer Scott Morrison says changes to the banking sector’s regulatory regime are needed as established banks are using the existing rules to stymie competition and make it hard for new players to enter the market. He has told a Bloomberg forum that the Federal Government’s proposed regulatory changes are aimed at empowering bank customers. Morrison has also ruled out making the Banking Executive Accountability Regime retrospective.
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIA. PRODUCTIVITY COMMISSION, BLOOMBERG LP, AUSTRALIA. ATTORNEY-GENERAL’S DEPT. AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE, AUSTRALIAN LABOR PARTY