Regulation Impact Statement Updates

Post-implementation Reviews

16th July 2010

Agencies are required to undertake a post-implementation review of a regulation which did not have a Regulation Impact Statement. This may be because the RIS was not adequate or the Prime Minister granted an exemption. The review should commence within one to two years of the implementation of the regulation. The list of reviews is now posted on this website, including whether the review is overdue, and will be updated regularly.

List of Post-implementation Reviews required - RTF version...

Financial Services Disclosure Reform Regulation Impact Statement - Commonwealth Treasury

Aust Gov

13th July 2010

The first RIS to be published on our new web site relates to changes to product disclosure statements. These changes were announced on 23 June. The changes will limit the number of pages in product disclosure statements for superannuation, managed investment schemes, and margin loan products.

These measures have been spurred by various independent reports which indicated that under the current arrangements product disclosure statements lacked clarity and contained irrelevant...

New Best Practice Regulation System Goes Live

General

2nd July 2010

The new best practice regulation system came into effect on July 1st. With it comes a new Handbook. There are a number of changes to the system but the main change is this web site. RISs will now be all in the one spot and they will be put up on this web site shortly after the decision is announced. Compliance with the best practice requirements will also go ‘live’ with non-compliance reported on this web site.

The web site also provides a ‘blog’ facility for you to comment on...