Reviews and Enquiries

Supporting the ongoing digital transition of the Australian economy is a key part of the Government’s economic recovery plan.

This is the Final Report of an independent review initially commissioned by the Australian Banking Association (ABA) in July 2016 to examine product sales commissions and product-based payments in retail banking in Australia.

The evolution of the nature and methods for payments will provide convenience for consumers and opportunities for businesses, but it will also increase complexity and risk.

2020 review of the regulatory architecture of the Australian payments system to ensure it remains fit-for-purpose and is capable of supporting continued innovation for the benefit of consumers, businesses and the broader economy.

The objectives of this 2020 review are to determine whether, and if so how, the definition of small business should be updated in the Banking Code of Practice.

‘Future Directions’ –  This Inquiry has found that to realise these aims, the CDR needs to develop in four directions.

Open Banking gives customers a right to direct that the information they already share with their bank be safely shared with others they trust.

This is the final report of the Independent Review of product sales commissions and product based payments in retail banking in Australia.

This Issues Paper summarises current practices and seeks further information about product sales commissions and product-based payments paid in respect of retail banking products.

The Code of Banking Practice (the Code) is an industry initiative which sets standards of good banking practice.

Taken together, our recommendations comprise an agenda of reinvigorated microeconomic reform that will require sustained effort from all jurisdictions.

This Inquiry’s objective is to assess, and make recommendations on, how the financial system can most effectively help the Australian economy be productive, grow and meet the financial needs of Australians.