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AFIA Submissions


We represent members’ views to shape positive industry change - driving public policy debate through active engagement with all political parties via submissions to Government and financial regulators on legislative reform, change and frameworks, and extensive stakeholder consultation via our leadership and working groups.

24

Nov 2020

ASIC Insolvency Law Reform Submission

24 November 2020 AFIA welcomes the opportunity to provide further feedback on the key insolvency documents. AFIA supports continued efforts by the Commonwealth Government to respond to the eff…

9

Nov 2020

Heavy Vehicle National Law Review Submission

9 November 2020 AFIA welcomes the opportunity to provide feedback on the Heavy Vehicle National Law (HVNL) Review Consultation Regulatory Impact Statement (RIS) prepared by Frontier Economics…

12

Oct 2020

Insolvency Reforms to Support Small Business Submission

12 October 2020 AFIA welcomes the opportunity to provide feedback on the Exposure Draft Bill in relation to the Insolvency Reforms to Support Small Business (Draft Bill). Download

24

Aug 2020

2020-21 Pre Budget Submission

24 August 2020 In relation to the 2020-21 Budget, AFIA recommends the Federal Government focus on three areas: 1. Initiatives and actions that stabilise the economy and support a business-led…

19

Aug 2020

The Sale of Add-On Motor Vehicle Financial Risk Products: Summary of Changes to Draft Product Intervention Order And Questions For Feedback (The Consultation)

19 August 2020 AFIA welcome ASIC’s further consultation and understand that through the PIP Order, ASIC is seeking to protect consumers from significant detriment through the sale and pu…

18

Aug 2020

Review of The Bankruptcy Threshold (The Review)

18 August 2020 AFIA's overarching response to this Review is that it is important that the policies that underpin Commonwealth bankruptcy law: 1. provide a fair and orderly process for dealing…

11

Aug 2020

ASIC's Consultation Paper 330: Using the Product Intervention Power: Continuing Credit Contracts

11 August 2020 AFIA focuses on the importance of the appropriate application of ASIC’s proposed use of its product intervention power to continuing credit contracts, ensuring it is appli…

10

Jul 2020

Strengthening Breach Reporting- Proposed Amendments to Exposure Draft Legislation

10 July 2020 AFIA appreciates the opportunity to respond to Treasury’s targeted stakeholder consultation and the chance to discuss first-hand on 2 July, some of your proposed changes. We…

18

Jun 2020

Litigation Funding and The Regulation of The Class Action Industry

18 June 2020 AFIA specifically addresses only those matters that relate to the financial services industry, specifically the regulation and oversight of the litigation funding industry and the…

12

Jun 2020

Payment Times Reporting Rules Consultation Submission

12 June 2020 AFIA appreciates the opportunity to respond to the Payment Times Reporting Scheme Rules Consultation Paper (Consultation Paper). Download

5

Jun 2020

Senate Select Committee on COVID-19 Inquiry Into the Australian Government's Response To the COVID-19 Pandemic

5 June 2020 This submission focuses on the Government’s economic response and the finance industry’s actions to address the immediate and ongoing challenges for Australia due to th…

31

May 2020

Consumer Data Right- Energy Sector Designation Instrument

31 May 2020 AFIA and its members support the implementation of the Consumer Data Right (CDR), it’s extension to the Energy sector and its commitment to have regard to competition, fairne…

22

May 2020

Inquiry into Future Directions for the Consumer Data Right- Issues Paper

22 May 2020 AFIA and its members support the implementation of the Consumer Data Right (CDR), the Inquiry and its commitment to have regard to competition, fairness, innovation, efficiency, r…

16

Apr 2020

Enhancements to Unfair Contract Term Protections - Consultation Regulation Impact Statement

16 April 2020 AFIA has worked and continues to work closely with Treasury and the Treasurer to formulate its assistance packages to small business and to individuals impacted by the crisis t…

10

Apr 2020

Senate Select Committee on Financial Technology and Regulatory Technology (the Inquiry) - AFIA Supplementary Submission

10 April 2020 AFIA welcomed the opportunity to provide further comments to the Committee, particularly in relation to the impact of the COVID-19 crisis on smaller lenders and the fintech secto…

25

Mar 2020

Implementing the Royal Commission Recommendations: Mortgage Brokers & Best Interests Duty Submission

25 March 2020 AFIA welcomes the opportunity to provide a response to the Australian Securities and Investment Commission (ASIC)’s Consultation Paper 327: Implementing the Royal Commissio…

13

Mar 2020

Consultation Paper 325 - Product Design and Distribution Obligations

13 March 2020 AFIA supports the implementation of the DDO in Pt 7.8A of the Corporations Act 2001 (Corporations Act). The regime introduces targeted and principles-based design and distributio…

28

Feb 2020

Financial Services Royal Commission - Enhancing consumer protections and strengthening regulators

28 February 2020 AFIA supports Treasury and the Government in its plans to deliver on the recommendations of the Financial Services Royal Commission. It will be very important to ensure imple…

17

Feb 2020

National Consumer Credit Protection Amendment (Small Amount Credit Contract and Consumer Lease Reforms) Bill 2019 (No. 2) (the SACC Bill)

17 February 2020 The Explanatory Memorandum to the SACC Bill (Explanatory Memorandum) notes that the Bill replicates the Government's Exposure Draft legislation released on 23 October 2017. A…

14

Feb 2020

Financial Accountability Regime (FAR)

14 February 2020 AFIA welcomes the opportunity to provide a response to Treasury on the Proposals Paper for Implementing Royal Commission Recommendations 3.9, 4.12, 6.6, 6.7, and 6.8, to exten…

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