Major Regulatory bodies and their roles in the

Australian Financial System

Christopher Barnes s5097754

The Monetary Authorities of Australia
Council of Financial Regulators

ASIC

Federal
RBA APRA
Treasury
 Central Banks
Maintain stable economic environment

Regulates Nations money

Developing and implementing monetary policy

Issuing nations currency (AUD, GBP etc.)

Banking service for government

Overseeing the operations within the financial system

Facilitating the payment system

 The RBA

Responsibilities of the RBA:

In Section 10(2)[The Charter] of the RBA;

1. Maintenance of a stable currency

2. Maintenance of full employment

3. Maintenance of the prosperity and welfare of the

people of Australia

Reserve Bank of Australia Logo (Goener, 2015)

Australian Prudential Regulation Authority

APRA oversees;

Banks
APRA Logo (APRA, n.d)
Credit Unions

Building Societies

Insurance Companies (e.g. Life insurance)

Superannuation Companies
 Australian Securities and Investments Commission

Responsibilities of ASIC

Section 1(2) of the Act requires ASIC to;

Maintain, facilitate and improve the performance of the financial system and
entities in it

Promote confidence and informed participation by investors and consumers in the

financial system

Administer the law effectively and with minimal procedural requirements

Enforce and give effect to the law

Receive, process and store efficiently and quickly, information that is given to us

Make information about companies and other bodies available to the public as
soon as practicable
 Reference List
About APRA. Apra.gov.au. Retrieved 11 March 2017, from
http://www.apra.gov.au/AboutAPRA/Pages/Default.aspx
About the RBA | RBA. Reserve Bank of Australia. Retrieved 11 March
2017, from http://www.rba.gov.au/about-rba/
Brimble, M., Mazzola, P., Basu, A., Docherty, P., & Lenton, L. (2014).
Financial markets, institutions and money (3rd ed., pp. 64-87). Milton:
John Wiley & Sons Australia.
Full employment doesnt mean zero jobless. The Australian. Retrieved
11 March 2017, from http://www.theaustralian.com.au/news/latest-
news/full-employment-doesnt-mean-zero-jobless/news-
story/d9b047e4b235c24fe9bf625f1110dfd5
 Reference List
Goener, D. (2015). What lowering the cash rate means to professional
services firms. Retrieved from
http://www.beatoncapital.com/2015/02/lowering-cash-rate-means-
professional-services-firms-2/
Heakal, R. (2015). What Are Central Banks?. Investopedia. Retrieved 11
March 2017, from
http://www.investopedia.com/articles/03/050703.asp
Our role | ASIC - Australian Securities and Investments Commission.
(2016). Asic.gov.au. Retrieved 11 March 2017, from
http://asic.gov.au/about-asic/what-we-do/our-role/
Regulatory Authorities in Australia. Asx.com.au. Retrieved 8 March
2017, from http://www.asx.com.au/regulation/regulatory-
compliance/regulation-australia.htm