Regulation Impact Statement – Australian Securities and Investments Commission

On 10 March 2020, the Australian Securities and Investments Commission (ASIC) announced a new framework for the regulation of foreign financial services providers (FFSPs) providing financial services to Australian wholesale clients.

FFSPs providing services to Australian wholesale clients have been able to avail themselves of relief from the Australian Financial Services Licensing regime provided by...

COAG Decision Regulation Impact Statement – Australian Energy Market Commission

On 12 March 2020, the Australian Energy Market Commission (AEMC) released a final rule determination that amends the National Gas Rules to replace the current authorised maximum daily quantity (AMDQ) regime in the Victorian declared wholesale gas market (DWGM) with a new entry and exit capacity certificates regime. These certificates can be purchased by market participants at an auction run by AEMO to gain...

Independent Review – Department of Health

On 27 February 2020, the Government introduced the Aged Care Legislation Amendment (Improved Home Care Payment Administration No. 1) Bill 2020.

The purpose of the Bill is to change the payment of home care subsidy to approved providers from being paid in advance to being paid in arrears. Payment of subsidy in arrears is intended to introduce a more contemporary business practice into home care subsidy payment arrangements and bring...

Independent Review – Australian Prudential Regulation Authority

On 17 January 2020, the Australian Prudential Regulation Authority (APRA) determined Prudential Standard APS 115 Capital Adequacy: Standardised Measurement Approach to Operational Risk to replace the existing prudential standard for authorised deposit-taking institutions (ADIs) — which includes banks — on Advanced Measurement Approaches to Operational Risk effective from 1 January 2021. The new standard will also replace...