1. Financial Regulation in Australia Kevin Davis Research Director, Australian Centre for Financial Studies (and Professor, Monash University) Professor of Finance, University of Melbourne

2. Current Features of Australian Financing Patterns Banks and superannuation funds dominate the financial sector, holding approximately ¾ of financial sector assets. relatively few financial assets held by non-prudentially regulated financial institutions (excluding SMSFs)

3. Financial Regulation in Australia Prudential Regulation –Banks, Superannuation, Insurance Financial market conduct, corporate regulation, investor protection –ASX, providers of financial services and products Monetary Policy, system stability, payments system Financial System Policy Council of Financial Regulators

4. Current Regulatory Issues What perimeter for prudential regulation? Perceptions of implicit government guarantees G20 and Basel 3: implementation and effects Investor / Financial services consumer protection is an increasingly problematic area –Reliance on Education, Advice, Disclosure has been found wanting