{ "entity_id": "B-000944", "folder": "Council-of-Financial-Regulators", "name": "Council of Financial Regulators", "type": "Advisory Body", "jurisdiction": "Commonwealth", "portfolio": "Treasury", "website": "http://www.cfr.gov.au/", "data_status": "partial", "completeness": { "has_strategy_brief": true, "has_strategy_structured": true, "has_vision": false, "has_kpi_targets": false, "has_kpi_results": false, "has_strategy_overview": true, "has_legislation_text": true, "has_legislation_structured": false, "has_global_initiatives_text": false, "has_global_initiatives_structured": false, "n_global_initiatives": 0, "has_ideas": true, "has_artifacts": true, "n_ideas": 12, "n_legislation": 0, "n_artifacts": 8, "n_kpi_targets": 0, "n_kpi_results": 0, "n_outcomes": 43, "verified_own_data": true }, "strategy_profile": { "status": "needs_review", "confidence": "medium", "summary": "Maintain and strengthen National Anti-Scam Centre's (NASC) partnership model\nConnect NASC data sharing systems with other government organisations to reduce duplication and improve coordination efforts across government, law enforcement, industry and consumer groups.", "official_site_url": "http://www.cfr.gov.au/", "source_documents": [ { "type": "strategie", "title": "Evolution of the BBSW methodology: Discussion Paper", "url": "http://www.cfr.gov.au/publications/consultations/2015/evolution-of-the-bbsw-methodology/pdf/discussion-paper.pdf", "period": "2015", "confidence": "medium" }, { "type": "strategie", "title": "implementation plan", "url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "period": null, "confidence": "medium" }, { "type": "strategie", "title": "Regulating Cash\n\n Distribution - Consultation Paper", "url": "http://www.cfr.gov.au/publications/consultations/2025/consultation-on-a-regulatory-framework-for-cash-distribution-in-australia/pdf/consultation-paper.pdf", "period": "2025", "confidence": "medium" } ], "purpose": null, "vision": null, "strategic_priorities": [], "values": [], "outcomes": [ { "name": "Regulatory Outcomes: Simplification and/or removing duplication | Better Government engagement, consultation or guidance", "description": "Maintain and strengthen National Anti-Scam Centre's (NASC) partnership model\nConnect NASC data sharing systems with other government organisations to reduce duplication and improve coordination efforts across government, law enforcement, industry and consumer groups.", "activities": [ "Connect NASC data sharing systems with other government organisations to reduce duplication and improve coordination efforts across government, law enforcement, industry and consumer groups." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 3, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=3" }, { "name": "Regulatory Outcomes: Simplification and/or removing duplication | Better Government engagement, consultation or guidance", "description": "Improve guidance for Consumer Data Right (CDR) participants\nPartner with Office of the Australian Information Commissioner (OAIC) and the Data Standards Board to simplify and unify the CDR guidance.", "activities": [ "Partner with Office of the Australian Information Commissioner (OAIC) and the Data Standards Board to simplify and unify the CDR guidance." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 3, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=3" }, { "name": "Regulatory Outcomes: Better Government engagement, consultation or guidance", "description": "Provide guidance to CDR participants to access exemptions from disproportionate compliance burdens\nProactively educate CDR participants about the option to seek an exemption from CDR Rules where the compliance burden is disproportionate.", "activities": [ "Proactively educate CDR participants about the option to seek an exemption from CDR Rules where the compliance burden is disproportionate." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 3, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=3" }, { "name": "Regulatory Outcomes: Better Government engagement, consultation or guidance", "description": "Enhanced guidance to small banks\nProvide practical guidance about small banks’ options to allow collaboration, promote open door engagement with the ACCC about collaboration, and streamline exemptions approval processes.", "activities": [ "Provide practical guidance about small banks’ options to allow collaboration, promote open door engagement with the ACCC about collaboration, and streamline exemptions approval processes." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 3, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=3" }, { "name": "Regulatory Outcomes: Better Government engagement, consultation or guidance", "description": "Improve guidance for the registration of intangible assets on the Personal Property Securities Register (PPSR)\nRaise PPSR visibility through education and outreach in the small business community by highlighting how the PPSR can protect intangible assets and updating guidance materials for registering intangible assets.", "activities": [ "Raise PPSR visibility through education and outreach in the small business community by highlighting how the PPSR can protect intangible assets and updating guidance materials for registering intangible assets." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 5, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=5" }, { "name": "Regulatory Outcomes: Enabling digital and data capability | Better Government engagement, consultation or guidance", "description": "Encourage the timely removal of registrations from the Personal Property Securities Register (PPSR)\nEngage consumers, business owners, financial institutions, and other PPSR users to encourage the timely removal of expired PPSR registrations once a loan is repaid, allowing businesses to reuse assets as collateral and free up capital for reinvestment and growth", "activities": [ "Engage consumers, business owners, financial institutions, and other PPSR users to encourage the timely removal of expired PPSR registrations once a loan is repaid, allowing businesses to reuse assets as collateral and free up capital for reinvestment and growth" ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 5, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=5" }, { "name": "Regulatory Outcomes: Enabling digital and data capability | Better Government engagement, consultation or guidance", "description": "Address professional misconduct with a risk-based approach\nWork directly with insolvency professionals, provide guidance to support cultural change, and improve early detection of misconduct through better data use and AI tools, backed by AFSA’s 2025–26 Regulatory Action Statement.", "activities": [ "Work directly with insolvency professionals, provide guidance to support cultural change, and improve early detection of misconduct through better data use and AI tools, backed by AFSA’s 2025–26 Regulatory Action Statement." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 5, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=5" }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication | Better government engagement, consultation or guidance", "description": "Further reduce data reporting burden for industry\nMigrate data reporting to a more efficient platform which is estimated to save industry around $6 million annually in the long run.", "activities": [ "Migrate data reporting to a more efficient platform which is estimated to save industry around $6 million annually in the long run." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 6, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=6" }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication | Better government engagement, consultation or guidance", "description": "Reduce capital requirements for annuity products\nConsult with industry on a proposal to lower capital requirements for life insurers offering annuities, cutting costs and encouraging market growth.", "activities": [ "Consult with industry on a proposal to lower capital requirements for life insurers offering annuities, cutting costs and encouraging market growth." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 6, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=6" }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication | Better government engagement, consultation or guidance", "description": "Remove unnecessary or duplicative governance rules\nDiscuss proposals with industry to remove outdated or duplicative requirements from APRA’s governance standards, with a particular focus on reporting obligations that apply to entities under APRA’s fitness and proprietary requirements and statutory requirements under the Financial Accountability Regime (FAR).", "activities": [ "Discuss proposals with industry to remove outdated or duplicative requirements from APRA’s governance standards, with a particular focus on reporting obligations that apply to entities under APRA’s fitness and proprietary requirements and statutory requirements under the Financial Accountability Regime (FAR)." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 6, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=6" }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication | Better government engagement, consultation or guidance", "description": "Simplify APRA’s bank licensing regime\nConsult on changes to make the licencing process for banks clearer and more efficient, with the goal of reducing the time taken to process new bank licence applications by around half.", "activities": [ "Consult on changes to make the licencing process for banks clearer and more efficient, with the goal of reducing the time taken to process new bank licence applications by around half." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 6, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=6" }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication | Better government engagement, consultation or guidance", "description": "Improve searching of ASIC’s registers\nASIC, through the RegistryConnect program, is modernising how people search ASIC’s registers. Planned for release in 2026, the new Companies Register Search will offer a modernised experience for accessing company information, with enhanced search functionality and improved service availability.", "activities": [ "Planned for release in 2026, the new Companies Register Search will offer a modernised experience for accessing company information, with enhanced search functionality and improved service availability." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 9, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=9" }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication | Better government engagement, consultation or guidance", "description": "Develop and implement best practice drafting principles\nIncorporate best-practice drafting principles into ASIC’s legislative instrument design, developed in consultation with the Office of Parliamentary Counsel and Treasury, to ensure future instruments are clearer and simpler.", "activities": [ "Incorporate best-practice drafting principles into ASIC’s legislative instrument design, developed in consultation with the Office of Parliamentary Counsel and Treasury, to ensure future instruments are clearer and simpler." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 9, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=9" }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication | Better government engagement, consultation or guidance", "description": "Simplify ASIC regulatory guidance\nMaintain a dedicated program to update existing Regulatory Guides and other guidance materials to ensure currency and relevance, informed by external consultant analysis of audience needs.", "activities": [ "Maintain a dedicated program to update existing Regulatory Guides and other guidance materials to ensure currency and relevance, informed by external consultant analysis of audience needs." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 9, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=9" }, { "name": "Regulatory Outcomes: Enabling digital and data capability", "description": "Stabilise and uplift ASIC’s companies, business names and professional registers\nEnhance the companies, business names and professional registers to improve efficiency, security, and accuracy, supported by the Government’s RegistryConnect3 program.", "activities": [ "Enhance the companies, business names and professional registers to improve efficiency, security, and accuracy, supported by the Government’s RegistryConnect3 program." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 9, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=9" }, { "name": "Regulatory Outcomes: Enabling digital and data capability | Better government engagement, consultation or guidance", "description": "Reduce data requests and reporting requirements for thematic surveillance activities\nReduce data collection through information requests for thematic surveillance activities.", "activities": [ "Reduce data collection through information requests for thematic surveillance activities." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 9, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=9" }, { "name": "Regulatory Outcomes: Enabling digital and data capability | Better government engagement, consultation or guidance", "description": "Reduce data requests and reporting requirements for small banks\nHalve the volume of internal dispute resolution reports that small banks must lodge with ASIC each year – from two to one per entity.", "activities": [ "Halve the volume of internal dispute resolution reports that small banks must lodge with ASIC each year – from two to one per entity." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 9, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=9" }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication", "description": "Simplify existing legislative instruments\nConsult on the value of consolidating and simplifying multiple legislative instruments through pilot projects:\n1. merge 21 financial reporting and audit instruments,\n2. simplify two key investment platform instruments, with significant page reductions anticipated.\nDetermine if particular instruments should be executed and other instruments progressed.", "activities": [ "Consult on the value of consolidating and simplifying multiple legislative instruments through pilot projects:\n1. merge 21 financial reporting and audit instruments,\n2. simplify two key investment platform instruments, with significant page reductions anticipated.\nDetermine if particular instruments should be executed and other instruments progressed." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 9, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=9" }, { "name": "Regulatory Outcomes: Better government engagement, consultation or guidance", "description": "Expand public and listings markets\nExpand the approved foreign markets by 15 per cent to include Cboe’s US and Canadian exchanges, along with the Canadian Securities Exchange, prospective acquirer of the National Stock Exchange of Australia.", "activities": [ "Expand the approved foreign markets by 15 per cent to include Cboe’s US and Canadian exchanges, along with the Canadian Securities Exchange, prospective acquirer of the National Stock Exchange of Australia." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 10, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=10" }, { "name": "Regulatory Outcomes: Better government engagement, consultation or guidance", "description": "Consider disclosure burdens that impact efficient superannuation investment decisions\nSet up a working group to advise on whether stamp duty should be excluded as a disclosable transaction cost in Regulatory Guide 97 Disclosing fees and costs in Product Disclosure Statement (PDS)s and periodic statements (RG 97). Consider potential class order relief regarding how internally managed private credit arrangements are disclosed in private portfolio holdings disclosures.", "activities": [ "Set up a working group to advise on whether stamp duty should be excluded as a disclosable transaction cost in Regulatory Guide 97 Disclosing fees and costs in Product Disclosure Statement (PDS)s and periodic statements (RG 97). Consider potential class order relief regarding how internally managed private credit arrangements are disclosed in private portfolio holdings disclosures." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 10, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=10" }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication", "description": "Streamline the Financial Accountability Regime (FAR)\nASIC and APRA commenced work to streamline the operation of the FAR and consider how it can be better embedded to promote risk management. Regulators will also consider whether changes should be made to APRA and ASIC’s regulations, which set out information for entities to include in Financial Accountability Regime reporting forms.", "activities": [ "ASIC and APRA commenced work to streamline the operation of the FAR and consider how it can be better embedded to promote risk management. Regulators will also consider whether changes should be made to APRA and ASIC’s regulations, which set out information for entities to include in Financial Accountability Regime reporting forms." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 10, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=10" }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication | Better government engagement, consultation or guidance", "description": "Introduce sector-based regulatory roadmaps\nDevelop and pilot sector-based regulatory roadmaps (‘one stop shops’) for small company directors and financial advice businesses.", "activities": [ "Develop and pilot sector-based regulatory roadmaps (‘one stop shops’) for small company directors and financial advice businesses." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 10, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=10" }, { "name": "Regulatory Outcomes: Better government engagement, consultation or guidance", "description": "Encourage confidence in private markets\nContinue working with industry on better practices and standards, including identifying barriers to a deeper domestic corporate bond market through the next phase of public and private markets work.", "activities": [ "Continue working with industry on better practices and standards, including identifying barriers to a deeper domestic corporate bond market through the next phase of public and private markets work." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 10, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=10" }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication", "description": "Support public and listings markets for foreign companies\nExplore measures to streamline dual listings of foreign companies in Australia and other innovative applications to attract international businesses to Australia’s public markets.", "activities": [ "Explore measures to streamline dual listings of foreign companies in Australia and other innovative applications to attract international businesses to Australia’s public markets." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 11, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=11" }, { "name": "Regulatory Outcomes: Enabling digital and data capability | Better government engagement, consultation or guidance", "description": "Improve ASIC regulatory transactions\nExpand digital lodgement options by allowing more forms to be lodged via email (next release to add 22 forms, saving $34,000 in postage annually).", "activities": [ "Expand digital lodgement options by allowing more forms to be lodged via email (next release to add 22 forms, saving $34,000 in postage annually)." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 11, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=11" }, { "name": "Regulatory Outcomes: Enabling digital and data capability | Better government engagement, consultation or guidance", "description": "Review approach to supervising financial market infrastructure (including clearing and settlement facilities with RBA)\nReview and enhance our oversight of financial market infrastructure to ensure oversight is effective and efficient.", "activities": [ "Review and enhance our oversight of financial market infrastructure to ensure oversight is effective and efficient." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 11, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=11" }, { "name": "Regulatory Outcomes: Better government engagement, consultation or guidance", "description": "Develop Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Starter Program Kits\nDevelop AML/CTF starter kits to help small businesses establish effective compliance programs with minimal complexity. Kits will include a model risk assessment and program for a typical low-complexity business.", "activities": [ "Develop AML/CTF starter kits to help small businesses establish effective compliance programs with minimal complexity. Kits will include a model risk assessment and program for a typical low-complexity business." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 13, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=13" }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication | Enabling digital and data capability | Better government engagement, consultation or guidance", "description": "Consult industry on enhancing large volume Suspicious Matter Reports (SMRs) reporting\nConsult with regulated businesses on options to reduce burden on regulated entities while maintaining intelligence value. Following consultation next steps are to be determined.", "activities": [ "Consult with regulated businesses on options to reduce burden on regulated entities while maintaining intelligence value. Following consultation next steps are to be determined." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 13, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=13" }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication | Enabling digital and data capability", "description": "Consult industry on enabling automatic enrolment for Australian Financial Services license (AFSL) holders\nWork with ASIC to update the current registration process for AFSL holders to remove duplication for remitters and digital currency exchange (DCE) providers. Following consultation next steps are to be determined.", "activities": [ "Work with ASIC to update the current registration process for AFSL holders to remove duplication for remitters and digital currency exchange (DCE) providers. Following consultation next steps are to be determined." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 13, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=13" }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication | Enabling digital and data capability", "description": "Promote harmonisation of payments messaging for cross-border payments\nThe Australian payments industry is expected to adopt internationally harmonised ISO 20022 messaging for cross-border payments by the end of 2027, in line with the global roadmap.", "activities": [ "The Australian payments industry is expected to adopt internationally harmonised ISO 20022 messaging for cross-border payments by the end of 2027, in line with the global roadmap." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 15, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=15" }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication | Enabling digital and data capability", "description": "Consider options to reduce the regulatory burden for small issuers and fintechs\nConsider options to reduce the regulatory burden of card payments regulations on small issuers and fintechs as part of the Review of Retail Payments Regulation.", "activities": [ "Consider options to reduce the regulatory burden of card payments regulations on small issuers and fintechs as part of the Review of Retail Payments Regulation." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 15, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=15" }, { "name": "Regulatory Outcomes: Enabling digital and data capability", "description": "Explore how digital money can support tokenised asset markets\nWork with industry and regulators on Project Acacia, piloting wholesale central bank digital currency and other tokenisation use cases, with a report due in the first half of 2026.", "activities": [ "Work with industry and regulators on Project Acacia, piloting wholesale central bank digital currency and other tokenisation use cases, with a report due in the first half of 2026." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 15, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=15" }, { "name": "Regulatory Outcomes: Enabling digital and data capability | Better government engagement, consultation or guidance", "description": "Contribute to the design of the future account-to-account payments system\nEngage with industry to ensure the design of Australia’s future account-to-account payments system supports innovation opportunities alongside public policy goals, with public consultation on a shared vision and plan in 2026.", "activities": [ "Engage with industry to ensure the design of Australia’s future account-to-account payments system supports innovation opportunities alongside public policy goals, with public consultation on a shared vision and plan in 2026." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 15, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=15" }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication | Better government engagement, consultation or guidance", "description": "Review approach to supervising Australian clearing and settlement (CS) facilities\nUndertake a review of CS facilities, including in relation to license applications, to ensure that the regulation of CS facilities remains proportionate to the risk they pose to the Australian financial system.", "activities": [ "Undertake a review of CS facilities, including in relation to license applications, to ensure that the regulation of CS facilities remains proportionate to the risk they pose to the Australian financial system." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 16, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=16" }, { "name": "Regulatory Outcomes: Better government engagement, consultation or guidance", "description": "Review low-value threshold for the regulation of purchased payment facilities\nReview the current $10 million low-value threshold up to which the Payment Systems (Regulation) Act 1998 (PSRA) does not apply to purchased payment facilities.", "activities": [ "Review the current $10 million low-value threshold up to which the Payment Systems (Regulation) Act 1998 (PSRA) does not apply to purchased payment facilities." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 16, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=16" }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication", "description": "Remove redundant securities lending reporting requirements\nRemove redundant securities lending reporting requirements that were put in place in 2009, but did not meet their intended objectives, reducing the reporting burden for at least 35 institutions.", "activities": [ "Remove redundant securities lending reporting requirements that were put in place in 2009, but did not meet their intended objectives, reducing the reporting burden for at least 35 institutions." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 16, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=16" }, { "name": "Regulatory Outcomes: Enabling digital and data capability", "description": "Create a plan for modernising the Reserve Bank Information and Transfer System (RITS)\nInvestigate options to modernise the RITS, Australia’s system for settling payment obligations on a real-time basis, to take advantage of new technology and provide new or enhanced settlement modes, informed by learnings from Project Acacia.", "activities": [ "Investigate options to modernise the RITS, Australia’s system for settling payment obligations on a real-time basis, to take advantage of new technology and provide new or enhanced settlement modes, informed by learnings from Project Acacia." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 16, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=16" }, { "name": "Regulatory Outcomes: Better government engagement, consultation or guidance", "description": "Review the Exchange Settlement Account (ESA) policy to support participation in payment systems\nUndertake a review of the ESA policy to explore options to support non-bank payment service providers (PSPs) direct participation in payment systems, after tranche 1 of the new PSP license passes Parliament and work on the common access requirements proceeds.", "activities": [ "Undertake a review of the ESA policy to explore options to support non-bank payment service providers (PSPs) direct participation in payment systems, after tranche 1 of the new PSP license passes Parliament and work on the common access requirements proceeds." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 17, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=17" }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication", "description": "Review merchant card payment costs and surcharging\nFinalise reforms to reduce merchant card payment costs and surcharging by end of 2025. Proposals include banning surcharges on EFTPOS, Mastercard and Visa, lowering interchange fee caps, and requiring public fee disclosures by card networks and large acquirers.", "activities": [ "Finalise reforms to reduce merchant card payment costs and surcharging by end of 2025. Proposals include banning surcharges on EFTPOS, Mastercard and Visa, lowering interchange fee caps, and requiring public fee disclosures by card networks and large acquirers." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 17, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=17" }, { "name": "Regulatory Outcomes: Enabling digital and data capability", "description": "Review retail payments regulation\nConduct a review following the reforms to the Payment Systems (Regulation) Act 1998 to widen the range of payment systems and participants that are within scope of regulation.", "activities": [ "Conduct a review following the reforms to the Payment Systems (Regulation) Act 1998 to widen the range of payment systems and participants that are within scope of regulation." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 17, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=17" }, { "name": "Regulatory Outcomes: Better government engagement, consultation or guidance", "description": "Review foreign investment delegations\nReview decision-making delegations for foreign investment applications to streamline low-risk cases, potentially revising monetary thresholds and adding new factors to delegation criteria, with options to be put to the Treasurer.", "activities": [ "Review decision-making delegations for foreign investment applications to streamline low-risk cases, potentially revising monetary thresholds and adding new factors to delegation criteria, with options to be put to the Treasurer." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 18, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=18" }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication | Better government engagement, consultation or guidance", "description": "Review foreign investment conditions\nReview conditions on existing foreign investment approvals, initially focusing on low-risk investments, to identify opportunities to remove or reduce reporting requirements while maintaining risk mitigation.", "activities": [ "Review conditions on existing foreign investment approvals, initially focusing on low-risk investments, to identify opportunities to remove or reduce reporting requirements while maintaining risk mitigation." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 18, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=18" }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication | Better government engagement, consultation or guidance", "description": "Develop reform options for foreign investment legislation\nDesign reforms of the legislative framework for foreign investment to ensure it remains fit for purpose, balancing the need to attract investment with the imperative to manage national security and economic risks.", "activities": [ "Design reforms of the legislative framework for foreign investment to ensure it remains fit for purpose, balancing the need to attract investment with the imperative to manage national security and economic risks." ], "source_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf", "source_page": 18, "source_deep_url": "http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf#page=18" } ], "performance_measures": [], "document_alignment_terms": { "must_support": [], "watch_terms": [], "avoid_claiming_without_evidence": [] }, "review_note": "Structured strategy exists but is incomplete." }, "global_initiatives": null, "strategy": { "reporting_period": "2024-25", "corporate_plan_period": "2025-26", "vision": null, "vision_source_page": null, "purposes": null, "purposes_source_page": null, "how_we_deliver": null, "how_we_deliver_source_page": null, "government_priorities": [], "outcomes": [ { "name": "Regulatory Outcomes: Simplification and/or removing duplication | Better Government engagement, consultation or guidance", "description": "Maintain and strengthen National Anti-Scam Centre's (NASC) partnership model\nConnect NASC data sharing systems with other government organisations to reduce duplication and improve coordination efforts across government, law enforcement, industry and consumer groups.", "key_activities": [ "Connect NASC data sharing systems with other government organisations to reduce duplication and improve coordination efforts across government, law enforcement, industry and consumer groups." ], "source_page": 3 }, { "name": "Regulatory Outcomes: Simplification and/or removing duplication | Better Government engagement, consultation or guidance", "description": "Improve guidance for Consumer Data Right (CDR) participants\nPartner with Office of the Australian Information Commissioner (OAIC) and the Data Standards Board to simplify and unify the CDR guidance.", "key_activities": [ "Partner with Office of the Australian Information Commissioner (OAIC) and the Data Standards Board to simplify and unify the CDR guidance." ], "source_page": 3 }, { "name": "Regulatory Outcomes: Better Government engagement, consultation or guidance", "description": "Provide guidance to CDR participants to access exemptions from disproportionate compliance burdens\nProactively educate CDR participants about the option to seek an exemption from CDR Rules where the compliance burden is disproportionate.", "key_activities": [ "Proactively educate CDR participants about the option to seek an exemption from CDR Rules where the compliance burden is disproportionate." ], "source_page": 3 }, { "name": "Regulatory Outcomes: Better Government engagement, consultation or guidance", "description": "Enhanced guidance to small banks\nProvide practical guidance about small banks’ options to allow collaboration, promote open door engagement with the ACCC about collaboration, and streamline exemptions approval processes.", "key_activities": [ "Provide practical guidance about small banks’ options to allow collaboration, promote open door engagement with the ACCC about collaboration, and streamline exemptions approval processes." ], "source_page": 3 }, { "name": "Regulatory Outcomes: Better Government engagement, consultation or guidance", "description": "Improve guidance for the registration of intangible assets on the Personal Property Securities Register (PPSR)\nRaise PPSR visibility through education and outreach in the small business community by highlighting how the PPSR can protect intangible assets and updating guidance materials for registering intangible assets.", "key_activities": [ "Raise PPSR visibility through education and outreach in the small business community by highlighting how the PPSR can protect intangible assets and updating guidance materials for registering intangible assets." ], "source_page": 5 }, { "name": "Regulatory Outcomes: Enabling digital and data capability | Better Government engagement, consultation or guidance", "description": "Encourage the timely removal of registrations from the Personal Property Securities Register (PPSR)\nEngage consumers, business owners, financial institutions, and other PPSR users to encourage the timely removal of expired PPSR registrations once a loan is repaid, allowing businesses to reuse assets as collateral and free up capital for reinvestment and growth", "key_activities": [ "Engage consumers, business owners, financial institutions, and other PPSR users to encourage the timely removal of expired PPSR registrations once a loan is repaid, allowing businesses to reuse assets as collateral and free up capital for reinvestment and growth" ], "source_page": 5 }, { "name": "Regulatory Outcomes: Enabling digital and data capability | Better Government engagement, consultation or guidance", "description": "Address professional misconduct with a risk-based approach\nWork directly with insolvency professionals, provide guidance to support cultural change, and improve early detection of misconduct through better data use and AI tools, backed by AFSA’s 2025–26 Regulatory Action Statement.", "key_activities": [ "Work directly with insolvency professionals, provide guidance to support cultural change, and improve early detection of misconduct through better data use and AI tools, backed by AFSA’s 2025–26 Regulatory Action Statement." ], "source_page": 5 }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication | Better government engagement, consultation or guidance", "description": "Further reduce data reporting burden for industry\nMigrate data reporting to a more efficient platform which is estimated to save industry around $6 million annually in the long run.", "key_activities": [ "Migrate data reporting to a more efficient platform which is estimated to save industry around $6 million annually in the long run." ], "source_page": 6 }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication | Better government engagement, consultation or guidance", "description": "Reduce capital requirements for annuity products\nConsult with industry on a proposal to lower capital requirements for life insurers offering annuities, cutting costs and encouraging market growth.", "key_activities": [ "Consult with industry on a proposal to lower capital requirements for life insurers offering annuities, cutting costs and encouraging market growth." ], "source_page": 6 }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication | Better government engagement, consultation or guidance", "description": "Remove unnecessary or duplicative governance rules\nDiscuss proposals with industry to remove outdated or duplicative requirements from APRA’s governance standards, with a particular focus on reporting obligations that apply to entities under APRA’s fitness and proprietary requirements and statutory requirements under the Financial Accountability Regime (FAR).", "key_activities": [ "Discuss proposals with industry to remove outdated or duplicative requirements from APRA’s governance standards, with a particular focus on reporting obligations that apply to entities under APRA’s fitness and proprietary requirements and statutory requirements under the Financial Accountability Regime (FAR)." ], "source_page": 6 }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication | Better government engagement, consultation or guidance", "description": "Simplify APRA’s bank licensing regime\nConsult on changes to make the licencing process for banks clearer and more efficient, with the goal of reducing the time taken to process new bank licence applications by around half.", "key_activities": [ "Consult on changes to make the licencing process for banks clearer and more efficient, with the goal of reducing the time taken to process new bank licence applications by around half." ], "source_page": 6 }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication | Better government engagement, consultation or guidance", "description": "Improve searching of ASIC’s registers\nASIC, through the RegistryConnect program, is modernising how people search ASIC’s registers. Planned for release in 2026, the new Companies Register Search will offer a modernised experience for accessing company information, with enhanced search functionality and improved service availability.", "key_activities": [ "Planned for release in 2026, the new Companies Register Search will offer a modernised experience for accessing company information, with enhanced search functionality and improved service availability." ], "source_page": 9 }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication | Better government engagement, consultation or guidance", "description": "Develop and implement best practice drafting principles\nIncorporate best-practice drafting principles into ASIC’s legislative instrument design, developed in consultation with the Office of Parliamentary Counsel and Treasury, to ensure future instruments are clearer and simpler.", "key_activities": [ "Incorporate best-practice drafting principles into ASIC’s legislative instrument design, developed in consultation with the Office of Parliamentary Counsel and Treasury, to ensure future instruments are clearer and simpler." ], "source_page": 9 }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication | Better government engagement, consultation or guidance", "description": "Simplify ASIC regulatory guidance\nMaintain a dedicated program to update existing Regulatory Guides and other guidance materials to ensure currency and relevance, informed by external consultant analysis of audience needs.", "key_activities": [ "Maintain a dedicated program to update existing Regulatory Guides and other guidance materials to ensure currency and relevance, informed by external consultant analysis of audience needs." ], "source_page": 9 }, { "name": "Regulatory Outcomes: Enabling digital and data capability", "description": "Stabilise and uplift ASIC’s companies, business names and professional registers\nEnhance the companies, business names and professional registers to improve efficiency, security, and accuracy, supported by the Government’s RegistryConnect3 program.", "key_activities": [ "Enhance the companies, business names and professional registers to improve efficiency, security, and accuracy, supported by the Government’s RegistryConnect3 program." ], "source_page": 9 }, { "name": "Regulatory Outcomes: Enabling digital and data capability | Better government engagement, consultation or guidance", "description": "Reduce data requests and reporting requirements for thematic surveillance activities\nReduce data collection through information requests for thematic surveillance activities.", "key_activities": [ "Reduce data collection through information requests for thematic surveillance activities." ], "source_page": 9 }, { "name": "Regulatory Outcomes: Enabling digital and data capability | Better government engagement, consultation or guidance", "description": "Reduce data requests and reporting requirements for small banks\nHalve the volume of internal dispute resolution reports that small banks must lodge with ASIC each year – from two to one per entity.", "key_activities": [ "Halve the volume of internal dispute resolution reports that small banks must lodge with ASIC each year – from two to one per entity." ], "source_page": 9 }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication", "description": "Simplify existing legislative instruments\nConsult on the value of consolidating and simplifying multiple legislative instruments through pilot projects:\n1. merge 21 financial reporting and audit instruments,\n2. simplify two key investment platform instruments, with significant page reductions anticipated.\nDetermine if particular instruments should be executed and other instruments progressed.", "key_activities": [ "Consult on the value of consolidating and simplifying multiple legislative instruments through pilot projects:\n1. merge 21 financial reporting and audit instruments,\n2. simplify two key investment platform instruments, with significant page reductions anticipated.\nDetermine if particular instruments should be executed and other instruments progressed." ], "source_page": 9 }, { "name": "Regulatory Outcomes: Better government engagement, consultation or guidance", "description": "Expand public and listings markets\nExpand the approved foreign markets by 15 per cent to include Cboe’s US and Canadian exchanges, along with the Canadian Securities Exchange, prospective acquirer of the National Stock Exchange of Australia.", "key_activities": [ "Expand the approved foreign markets by 15 per cent to include Cboe’s US and Canadian exchanges, along with the Canadian Securities Exchange, prospective acquirer of the National Stock Exchange of Australia." ], "source_page": 10 }, { "name": "Regulatory Outcomes: Better government engagement, consultation or guidance", "description": "Consider disclosure burdens that impact efficient superannuation investment decisions\nSet up a working group to advise on whether stamp duty should be excluded as a disclosable transaction cost in Regulatory Guide 97 Disclosing fees and costs in Product Disclosure Statement (PDS)s and periodic statements (RG 97). Consider potential class order relief regarding how internally managed private credit arrangements are disclosed in private portfolio holdings disclosures.", "key_activities": [ "Set up a working group to advise on whether stamp duty should be excluded as a disclosable transaction cost in Regulatory Guide 97 Disclosing fees and costs in Product Disclosure Statement (PDS)s and periodic statements (RG 97). Consider potential class order relief regarding how internally managed private credit arrangements are disclosed in private portfolio holdings disclosures." ], "source_page": 10 }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication", "description": "Streamline the Financial Accountability Regime (FAR)\nASIC and APRA commenced work to streamline the operation of the FAR and consider how it can be better embedded to promote risk management. Regulators will also consider whether changes should be made to APRA and ASIC’s regulations, which set out information for entities to include in Financial Accountability Regime reporting forms.", "key_activities": [ "ASIC and APRA commenced work to streamline the operation of the FAR and consider how it can be better embedded to promote risk management. Regulators will also consider whether changes should be made to APRA and ASIC’s regulations, which set out information for entities to include in Financial Accountability Regime reporting forms." ], "source_page": 10 }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication | Better government engagement, consultation or guidance", "description": "Introduce sector-based regulatory roadmaps\nDevelop and pilot sector-based regulatory roadmaps (‘one stop shops’) for small company directors and financial advice businesses.", "key_activities": [ "Develop and pilot sector-based regulatory roadmaps (‘one stop shops’) for small company directors and financial advice businesses." ], "source_page": 10 }, { "name": "Regulatory Outcomes: Better government engagement, consultation or guidance", "description": "Encourage confidence in private markets\nContinue working with industry on better practices and standards, including identifying barriers to a deeper domestic corporate bond market through the next phase of public and private markets work.", "key_activities": [ "Continue working with industry on better practices and standards, including identifying barriers to a deeper domestic corporate bond market through the next phase of public and private markets work." ], "source_page": 10 }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication", "description": "Support public and listings markets for foreign companies\nExplore measures to streamline dual listings of foreign companies in Australia and other innovative applications to attract international businesses to Australia’s public markets.", "key_activities": [ "Explore measures to streamline dual listings of foreign companies in Australia and other innovative applications to attract international businesses to Australia’s public markets." ], "source_page": 11 }, { "name": "Regulatory Outcomes: Enabling digital and data capability | Better government engagement, consultation or guidance", "description": "Improve ASIC regulatory transactions\nExpand digital lodgement options by allowing more forms to be lodged via email (next release to add 22 forms, saving $34,000 in postage annually).", "key_activities": [ "Expand digital lodgement options by allowing more forms to be lodged via email (next release to add 22 forms, saving $34,000 in postage annually)." ], "source_page": 11 }, { "name": "Regulatory Outcomes: Enabling digital and data capability | Better government engagement, consultation or guidance", "description": "Review approach to supervising financial market infrastructure (including clearing and settlement facilities with RBA)\nReview and enhance our oversight of financial market infrastructure to ensure oversight is effective and efficient.", "key_activities": [ "Review and enhance our oversight of financial market infrastructure to ensure oversight is effective and efficient." ], "source_page": 11 }, { "name": "Regulatory Outcomes: Better government engagement, consultation or guidance", "description": "Develop Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Starter Program Kits\nDevelop AML/CTF starter kits to help small businesses establish effective compliance programs with minimal complexity. Kits will include a model risk assessment and program for a typical low-complexity business.", "key_activities": [ "Develop AML/CTF starter kits to help small businesses establish effective compliance programs with minimal complexity. Kits will include a model risk assessment and program for a typical low-complexity business." ], "source_page": 13 }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication | Enabling digital and data capability | Better government engagement, consultation or guidance", "description": "Consult industry on enhancing large volume Suspicious Matter Reports (SMRs) reporting\nConsult with regulated businesses on options to reduce burden on regulated entities while maintaining intelligence value. Following consultation next steps are to be determined.", "key_activities": [ "Consult with regulated businesses on options to reduce burden on regulated entities while maintaining intelligence value. Following consultation next steps are to be determined." ], "source_page": 13 }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication | Enabling digital and data capability", "description": "Consult industry on enabling automatic enrolment for Australian Financial Services license (AFSL) holders\nWork with ASIC to update the current registration process for AFSL holders to remove duplication for remitters and digital currency exchange (DCE) providers. Following consultation next steps are to be determined.", "key_activities": [ "Work with ASIC to update the current registration process for AFSL holders to remove duplication for remitters and digital currency exchange (DCE) providers. Following consultation next steps are to be determined." ], "source_page": 13 }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication | Enabling digital and data capability", "description": "Promote harmonisation of payments messaging for cross-border payments\nThe Australian payments industry is expected to adopt internationally harmonised ISO 20022 messaging for cross-border payments by the end of 2027, in line with the global roadmap.", "key_activities": [ "The Australian payments industry is expected to adopt internationally harmonised ISO 20022 messaging for cross-border payments by the end of 2027, in line with the global roadmap." ], "source_page": 15 }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication | Enabling digital and data capability", "description": "Consider options to reduce the regulatory burden for small issuers and fintechs\nConsider options to reduce the regulatory burden of card payments regulations on small issuers and fintechs as part of the Review of Retail Payments Regulation.", "key_activities": [ "Consider options to reduce the regulatory burden of card payments regulations on small issuers and fintechs as part of the Review of Retail Payments Regulation." ], "source_page": 15 }, { "name": "Regulatory Outcomes: Enabling digital and data capability", "description": "Explore how digital money can support tokenised asset markets\nWork with industry and regulators on Project Acacia, piloting wholesale central bank digital currency and other tokenisation use cases, with a report due in the first half of 2026.", "key_activities": [ "Work with industry and regulators on Project Acacia, piloting wholesale central bank digital currency and other tokenisation use cases, with a report due in the first half of 2026." ], "source_page": 15 }, { "name": "Regulatory Outcomes: Enabling digital and data capability | Better government engagement, consultation or guidance", "description": "Contribute to the design of the future account-to-account payments system\nEngage with industry to ensure the design of Australia’s future account-to-account payments system supports innovation opportunities alongside public policy goals, with public consultation on a shared vision and plan in 2026.", "key_activities": [ "Engage with industry to ensure the design of Australia’s future account-to-account payments system supports innovation opportunities alongside public policy goals, with public consultation on a shared vision and plan in 2026." ], "source_page": 15 }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication | Better government engagement, consultation or guidance", "description": "Review approach to supervising Australian clearing and settlement (CS) facilities\nUndertake a review of CS facilities, including in relation to license applications, to ensure that the regulation of CS facilities remains proportionate to the risk they pose to the Australian financial system.", "key_activities": [ "Undertake a review of CS facilities, including in relation to license applications, to ensure that the regulation of CS facilities remains proportionate to the risk they pose to the Australian financial system." ], "source_page": 16 }, { "name": "Regulatory Outcomes: Better government engagement, consultation or guidance", "description": "Review low-value threshold for the regulation of purchased payment facilities\nReview the current $10 million low-value threshold up to which the Payment Systems (Regulation) Act 1998 (PSRA) does not apply to purchased payment facilities.", "key_activities": [ "Review the current $10 million low-value threshold up to which the Payment Systems (Regulation) Act 1998 (PSRA) does not apply to purchased payment facilities." ], "source_page": 16 }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication", "description": "Remove redundant securities lending reporting requirements\nRemove redundant securities lending reporting requirements that were put in place in 2009, but did not meet their intended objectives, reducing the reporting burden for at least 35 institutions.", "key_activities": [ "Remove redundant securities lending reporting requirements that were put in place in 2009, but did not meet their intended objectives, reducing the reporting burden for at least 35 institutions." ], "source_page": 16 }, { "name": "Regulatory Outcomes: Enabling digital and data capability", "description": "Create a plan for modernising the Reserve Bank Information and Transfer System (RITS)\nInvestigate options to modernise the RITS, Australia’s system for settling payment obligations on a real-time basis, to take advantage of new technology and provide new or enhanced settlement modes, informed by learnings from Project Acacia.", "key_activities": [ "Investigate options to modernise the RITS, Australia’s system for settling payment obligations on a real-time basis, to take advantage of new technology and provide new or enhanced settlement modes, informed by learnings from Project Acacia." ], "source_page": 16 }, { "name": "Regulatory Outcomes: Better government engagement, consultation or guidance", "description": "Review the Exchange Settlement Account (ESA) policy to support participation in payment systems\nUndertake a review of the ESA policy to explore options to support non-bank payment service providers (PSPs) direct participation in payment systems, after tranche 1 of the new PSP license passes Parliament and work on the common access requirements proceeds.", "key_activities": [ "Undertake a review of the ESA policy to explore options to support non-bank payment service providers (PSPs) direct participation in payment systems, after tranche 1 of the new PSP license passes Parliament and work on the common access requirements proceeds." ], "source_page": 17 }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication", "description": "Review merchant card payment costs and surcharging\nFinalise reforms to reduce merchant card payment costs and surcharging by end of 2025. Proposals include banning surcharges on EFTPOS, Mastercard and Visa, lowering interchange fee caps, and requiring public fee disclosures by card networks and large acquirers.", "key_activities": [ "Finalise reforms to reduce merchant card payment costs and surcharging by end of 2025. Proposals include banning surcharges on EFTPOS, Mastercard and Visa, lowering interchange fee caps, and requiring public fee disclosures by card networks and large acquirers." ], "source_page": 17 }, { "name": "Regulatory Outcomes: Enabling digital and data capability", "description": "Review retail payments regulation\nConduct a review following the reforms to the Payment Systems (Regulation) Act 1998 to widen the range of payment systems and participants that are within scope of regulation.", "key_activities": [ "Conduct a review following the reforms to the Payment Systems (Regulation) Act 1998 to widen the range of payment systems and participants that are within scope of regulation." ], "source_page": 17 }, { "name": "Regulatory Outcomes: Better government engagement, consultation or guidance", "description": "Review foreign investment delegations\nReview decision-making delegations for foreign investment applications to streamline low-risk cases, potentially revising monetary thresholds and adding new factors to delegation criteria, with options to be put to the Treasurer.", "key_activities": [ "Review decision-making delegations for foreign investment applications to streamline low-risk cases, potentially revising monetary thresholds and adding new factors to delegation criteria, with options to be put to the Treasurer." ], "source_page": 18 }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication | Better government engagement, consultation or guidance", "description": "Review foreign investment conditions\nReview conditions on existing foreign investment approvals, initially focusing on low-risk investments, to identify opportunities to remove or reduce reporting requirements while maintaining risk mitigation.", "key_activities": [ "Review conditions on existing foreign investment approvals, initially focusing on low-risk investments, to identify opportunities to remove or reduce reporting requirements while maintaining risk mitigation." ], "source_page": 18 }, { "name": "Regulatory Outcomes: Simplification and/or remove duplication | Better government engagement, consultation or guidance", "description": "Develop reform options for foreign investment legislation\nDesign reforms of the legislative framework for foreign investment to ensure it remains fit for purpose, balancing the need to attract investment with the imperative to manage national security and economic risks.", "key_activities": [ "Design reforms of the legislative framework for foreign investment to ensure it remains fit for purpose, balancing the need to attract investment with the imperative to manage national security and economic risks." ], "source_page": 18 } ], "values": [], "values_framework_name": null, "kpi_targets_2025_26": [], "kpi_results_2024_25": [], "_source_urls": { "annual_report_url": "", "corporate_plan_url": "" } }, "ideas": [ { "entity_id": "B-000944", "entity_name": "Council of Financial Regulators", "folder_name": "Council-of-Financial-Regulators", "category": "Regulation & Policy", "scale": "small", "title": "Regulatory burden scan for forms, guidance, and reporting", "idea": "Identify the top 10 highest-friction reporting obligations and simplify guidance, forms, or evidence requirements.", "quote": "[Page 19]\nA new regulatory framework for cash distribution could incorporate the following elements, which are\ndiscussed further in subsequent chapters:\n• Visibility of entities, capabilities and challenges: The scope of the regulatory framework and the\ntools available for monitoring entities providing cash distribution services are outlined in\nChapter 3.\n• Crisis readiness and resolution: The regulatory powers to safeguard critical cash distribution\nservices are outlined in Chapter 4.\n• Ensuring a fair and transparent sector: The regulatory powers to help ensure the sector continues\nto function effectively include:\n– Regulating price and non-price terms: An approach to ensuring that fair price and non-price\nterms are offered to business customers is outlined in Chapter 5.\n– Third-party access: An approach to ensuring third-party access is offered on fair terms is\noutlined in Chapter 6.", "impact": "High", "effort": "Low", "proof": "Evidence-backed", "beneficiaries": "Regulated entities / policy teams", "source": "strategies/consultation-paper.pdf (http://www.cfr.gov.au/publications/consultations/2025/consultation-on-a-regulatory-framework-for-cash-distribution-in-australia/pdf/consultation-paper.pdf)", "implementation": [ "Pick one high-volume process or document family.", "Name an owner and baseline current volume, time, cost, and satisfaction.", "Run a 4-8 week pilot with clear before/after metrics.", "Publish lessons and decide whether to scale." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability", "Regulatory capture", "Over-automation of judgement" ] }, { "entity_id": "B-000944", "entity_name": "Council of Financial Regulators", "folder_name": "Council-of-Financial-Regulators", "category": "Regulation & Policy", "scale": "large", "title": "Adaptive regulation program with live feedback loops", "idea": "Create an adaptive regulation model using sandboxes, industry data, risk scoring, and regular rule updates.", "quote": "[Page 19]\nA new regulatory framework for cash distribution could incorporate the following elements, which are\ndiscussed further in subsequent chapters:\n• Visibility of entities, capabilities and challenges: The scope of the regulatory framework and the\ntools available for monitoring entities providing cash distribution services are outlined in\nChapter 3.\n• Crisis readiness and resolution: The regulatory powers to safeguard critical cash distribution\nservices are outlined in Chapter 4.\n• Ensuring a fair and transparent sector: The regulatory powers to help ensure the sector continues\nto function effectively include:\n– Regulating price and non-price terms: An approach to ensuring that fair price and non-price\nterms are offered to business customers is outlined in Chapter 5.\n– Third-party access: An approach to ensuring third-party access is offered on fair terms is\noutlined in Chapter 6.", "impact": "Very High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Regulated entities / policy teams", "source": "strategies/consultation-paper.pdf (http://www.cfr.gov.au/publications/consultations/2025/consultation-on-a-regulatory-framework-for-cash-distribution-in-australia/pdf/consultation-paper.pdf)", "implementation": [ "Create a senior responsible owner and cross-functional delivery team.", "Map legislation, data, privacy, procurement, cyber, and workforce constraints.", "Co-design with users and frontline staff before technology selection.", "Stage delivery through pilots, benefits tracking, and public reporting." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability", "Regulatory capture", "Over-automation of judgement" ] }, { "entity_id": "B-000944", "entity_name": "Council of Financial Regulators", "folder_name": "Council-of-Financial-Regulators", "category": "Citizen Participation", "scale": "small", "title": "Consultation feedback summaries with response tracking", "idea": "Summarise consultation submissions by theme and publish what changed in response.", "quote": "Regulatory Outcomes\nBetter Government engagement, consultation or guidance\nImplementation timeframe\nQ1 2025-26 to Q4 2025-26\nEncourage the timely removal of registrations from the Personal Property Securities\nRegister (PPSR)\nEngage consumers, business owners, financial institutions, and other PPSR users to encourage the timely\nremoval of expired PPSR registrations once a loan is repaid, allowing businesses to reuse assets as\ncollateral and free up capital for reinvestment and growth\nRegulatory Outcomes\nEnabling digital and data capability | Better Government engagement, consultation or guidance\nImplementation timeframe\nQ1 2025-26 to Q4 2025-26\nAddress professional misconduct with a risk-based approach\nWork directly with insolvency professionals, provide guidance to support cultural change, and improve", "impact": "High", "effort": "Low", "proof": "Evidence-backed", "beneficiaries": "Citizens / stakeholders / policy teams", "source": "strategies/better-regulation-roadmap-implementation-plan.pdf (http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf)", "implementation": [ "Pick one high-volume process or document family.", "Name an owner and baseline current volume, time, cost, and satisfaction.", "Run a 4-8 week pilot with clear before/after metrics.", "Publish lessons and decide whether to scale." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability", "Digital exclusion", "Low public trust if feedback is not acted on" ] }, { "entity_id": "B-000944", "entity_name": "Council of Financial Regulators", "folder_name": "Council-of-Financial-Regulators", "category": "Citizen Participation", "scale": "large", "title": "Always-on policy participation platform", "idea": "Create a standing participation platform where citizens and stakeholders can propose, vote, and track ideas.", "quote": "Regulatory Outcomes\nBetter Government engagement, consultation or guidance\nImplementation timeframe\nQ1 2025-26 to Q4 2025-26\nEncourage the timely removal of registrations from the Personal Property Securities\nRegister (PPSR)\nEngage consumers, business owners, financial institutions, and other PPSR users to encourage the timely\nremoval of expired PPSR registrations once a loan is repaid, allowing businesses to reuse assets as\ncollateral and free up capital for reinvestment and growth\nRegulatory Outcomes\nEnabling digital and data capability | Better Government engagement, consultation or guidance\nImplementation timeframe\nQ1 2025-26 to Q4 2025-26\nAddress professional misconduct with a risk-based approach\nWork directly with insolvency professionals, provide guidance to support cultural change, and improve", "impact": "Very High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Citizens / stakeholders / policy teams", "source": "strategies/better-regulation-roadmap-implementation-plan.pdf (http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf)", "implementation": [ "Create a senior responsible owner and cross-functional delivery team.", "Map legislation, data, privacy, procurement, cyber, and workforce constraints.", "Co-design with users and frontline staff before technology selection.", "Stage delivery through pilots, benefits tracking, and public reporting." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability", "Digital exclusion", "Low public trust if feedback is not acted on" ] }, { "entity_id": "B-000944", "entity_name": "Council of Financial Regulators", "folder_name": "Council-of-Financial-Regulators", "category": "Data & Performance", "scale": "small", "title": "KPI evidence register with named owners", "idea": "Create a simple register mapping each KPI to source data, owner, frequency, target, and last result.", "quote": "Regulatory Outcomes\nBetter Government engagement, consultation or guidance\nImplementation timeframe\nQ1 2025-26 to Q4 2025-26\nEncourage the timely removal of registrations from the Personal Property Securities\nRegister (PPSR)\nEngage consumers, business owners, financial institutions, and other PPSR users to encourage the timely\nremoval of expired PPSR registrations once a loan is repaid, allowing businesses to reuse assets as\ncollateral and free up capital for reinvestment and growth\nRegulatory Outcomes\nEnabling digital and data capability | Better Government engagement, consultation or guidance\nImplementation timeframe\nQ1 2025-26 to Q4 2025-26\nAddress professional misconduct with a risk-based approach\nWork directly with insolvency professionals, provide guidance to support cultural change, and improve", "impact": "High", "effort": "Low", "proof": "Evidence-backed", "beneficiaries": "Executives / Parliament / public", "source": "strategies/better-regulation-roadmap-implementation-plan.pdf (http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf)", "implementation": [ "Pick one high-volume process or document family.", "Name an owner and baseline current volume, time, cost, and satisfaction.", "Run a 4-8 week pilot with clear before/after metrics.", "Publish lessons and decide whether to scale." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability" ] }, { "entity_id": "B-000944", "entity_name": "Council of Financial Regulators", "folder_name": "Council-of-Financial-Regulators", "category": "Data & Performance", "scale": "large", "title": "Outcome dashboard linking budget, delivery, and public impact", "idea": "Build a public-facing outcome dashboard showing spend, outputs, outcomes, and delivery confidence.", "quote": "Regulatory Outcomes\nBetter Government engagement, consultation or guidance\nImplementation timeframe\nQ1 2025-26 to Q4 2025-26\nEncourage the timely removal of registrations from the Personal Property Securities\nRegister (PPSR)\nEngage consumers, business owners, financial institutions, and other PPSR users to encourage the timely\nremoval of expired PPSR registrations once a loan is repaid, allowing businesses to reuse assets as\ncollateral and free up capital for reinvestment and growth\nRegulatory Outcomes\nEnabling digital and data capability | Better Government engagement, consultation or guidance\nImplementation timeframe\nQ1 2025-26 to Q4 2025-26\nAddress professional misconduct with a risk-based approach\nWork directly with insolvency professionals, provide guidance to support cultural change, and improve", "impact": "Very High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Executives / Parliament / public", "source": "strategies/better-regulation-roadmap-implementation-plan.pdf (http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf)", "implementation": [ "Create a senior responsible owner and cross-functional delivery team.", "Map legislation, data, privacy, procurement, cyber, and workforce constraints.", "Co-design with users and frontline staff before technology selection.", "Stage delivery through pilots, benefits tracking, and public reporting." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability" ] }, { "entity_id": "B-000944", "entity_name": "Council of Financial Regulators", "folder_name": "Council-of-Financial-Regulators", "category": "Risk & Assurance", "scale": "small", "title": "Recommendation tracker for audits, reviews, and inquiries", "idea": "Publish a single internal tracker for audit/review recommendations, owners, due dates, and implementation evidence.", "quote": "In order to improve the rigour and uniformity of standards applied in carrying out these assessments,\nESMA issued guidelines outlining the key issues and risks that regulators should take into account\n50 ESCB-CESR (2009), ‘Recommendations for Securities Settlement Systems and Recommendations for Central\nCounterparties in the European Union’, May.", "impact": "High", "effort": "Low", "proof": "Evidence-backed", "beneficiaries": "Executives / assurance teams", "source": "other-pdfs/C2015-007_CFR-ConclusionsPaper.pdf (https://treasury.gov.au/sites/default/files/2019-03/C2015-007_CFR-ConclusionsPaper.pdf)", "implementation": [ "Pick one high-volume process or document family.", "Name an owner and baseline current volume, time, cost, and satisfaction.", "Run a 4-8 week pilot with clear before/after metrics.", "Publish lessons and decide whether to scale." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability", "Regulatory capture", "Over-automation of judgement" ] }, { "entity_id": "B-000944", "entity_name": "Council of Financial Regulators", "folder_name": "Council-of-Financial-Regulators", "category": "Risk & Assurance", "scale": "large", "title": "Integrated assurance and lessons-learned system", "idea": "Create an assurance system that connects audit findings, risk registers, delivery reviews, and investment decisions.", "quote": "In order to improve the rigour and uniformity of standards applied in carrying out these assessments,\nESMA issued guidelines outlining the key issues and risks that regulators should take into account\n50 ESCB-CESR (2009), ‘Recommendations for Securities Settlement Systems and Recommendations for Central\nCounterparties in the European Union’, May.", "impact": "Very High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Executives / assurance teams", "source": "other-pdfs/C2015-007_CFR-ConclusionsPaper.pdf (https://treasury.gov.au/sites/default/files/2019-03/C2015-007_CFR-ConclusionsPaper.pdf)", "implementation": [ "Create a senior responsible owner and cross-functional delivery team.", "Map legislation, data, privacy, procurement, cyber, and workforce constraints.", "Co-design with users and frontline staff before technology selection.", "Stage delivery through pilots, benefits tracking, and public reporting." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability", "Regulatory capture", "Over-automation of judgement" ] }, { "entity_id": "B-000944", "entity_name": "Council of Financial Regulators", "folder_name": "Council-of-Financial-Regulators", "category": "Citizen Services", "scale": "small", "title": "Plain-language service pages and proactive status updates", "idea": "Rewrite high-volume pages and letters into plain language, add status notifications, and measure contact reduction.", "quote": "[Page 19]\nA new regulatory framework for cash distribution could incorporate the following elements, which are\ndiscussed further in subsequent chapters:\n• Visibility of entities, capabilities and challenges: The scope of the regulatory framework and the\ntools available for monitoring entities providing cash distribution services are outlined in\nChapter 3.\n• Crisis readiness and resolution: The regulatory powers to safeguard critical cash distribution\nservices are outlined in Chapter 4.\n• Ensuring a fair and transparent sector: The regulatory powers to help ensure the sector continues\nto function effectively include:\n– Regulating price and non-price terms: An approach to ensuring that fair price and non-price\nterms are offered to business customers is outlined in Chapter 5.\n– Third-party access: An approach to ensuring third-party access is offered on fair terms is\noutlined in Chapter 6.", "impact": "High", "effort": "Low", "proof": "Evidence-backed", "beneficiaries": "Citizens / service users", "source": "strategies/consultation-paper.pdf (http://www.cfr.gov.au/publications/consultations/2025/consultation-on-a-regulatory-framework-for-cash-distribution-in-australia/pdf/consultation-paper.pdf)", "implementation": [ "Pick one high-volume process or document family.", "Name an owner and baseline current volume, time, cost, and satisfaction.", "Run a 4-8 week pilot with clear before/after metrics.", "Publish lessons and decide whether to scale." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability", "Digital exclusion", "Low public trust if feedback is not acted on" ] }, { "entity_id": "B-000944", "entity_name": "Council of Financial Regulators", "folder_name": "Council-of-Financial-Regulators", "category": "Citizen Services", "scale": "large", "title": "Single front door for life-event based services", "idea": "Bundle services around life events so citizens can complete related steps across agencies in one journey.", "quote": "[Page 19]\nA new regulatory framework for cash distribution could incorporate the following elements, which are\ndiscussed further in subsequent chapters:\n• Visibility of entities, capabilities and challenges: The scope of the regulatory framework and the\ntools available for monitoring entities providing cash distribution services are outlined in\nChapter 3.\n• Crisis readiness and resolution: The regulatory powers to safeguard critical cash distribution\nservices are outlined in Chapter 4.\n• Ensuring a fair and transparent sector: The regulatory powers to help ensure the sector continues\nto function effectively include:\n– Regulating price and non-price terms: An approach to ensuring that fair price and non-price\nterms are offered to business customers is outlined in Chapter 5.\n– Third-party access: An approach to ensuring third-party access is offered on fair terms is\noutlined in Chapter 6.", "impact": "Very High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Citizens / service users", "source": "strategies/consultation-paper.pdf (http://www.cfr.gov.au/publications/consultations/2025/consultation-on-a-regulatory-framework-for-cash-distribution-in-australia/pdf/consultation-paper.pdf)", "implementation": [ "Create a senior responsible owner and cross-functional delivery team.", "Map legislation, data, privacy, procurement, cyber, and workforce constraints.", "Co-design with users and frontline staff before technology selection.", "Stage delivery through pilots, benefits tracking, and public reporting." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability", "Digital exclusion", "Low public trust if feedback is not acted on" ] }, { "entity_id": "B-000944", "entity_name": "Council of Financial Regulators", "folder_name": "Council-of-Financial-Regulators", "category": "Procurement & Delivery", "scale": "small", "title": "Procurement lessons library for repeat purchases", "idea": "Capture reusable procurement clauses, market lessons, supplier performance notes, and common evaluation criteria.", "quote": "Regulatory Outcomes\nBetter government engagement, consultation or guidance\nImplementation timeframe\nQ1 2025-26 to Q2 2028-29\nReview foreign investment conditions\nReview conditions on existing foreign investment approvals, initially focusing on low-risk investments, to\nidentify opportunities to remove or reduce reporting requirements while maintaining risk mitigation.", "impact": "High", "effort": "Low", "proof": "Evidence-backed", "beneficiaries": "Delivery teams / suppliers", "source": "strategies/better-regulation-roadmap-implementation-plan.pdf (http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf)", "implementation": [ "Pick one high-volume process or document family.", "Name an owner and baseline current volume, time, cost, and satisfaction.", "Run a 4-8 week pilot with clear before/after metrics.", "Publish lessons and decide whether to scale." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability" ] }, { "entity_id": "B-000944", "entity_name": "Council of Financial Regulators", "folder_name": "Council-of-Financial-Regulators", "category": "Procurement & Delivery", "scale": "large", "title": "Portfolio delivery office for major investments", "idea": "Stand up a portfolio delivery office that tracks benefits, risks, dependencies, procurement, and delivery confidence.", "quote": "Regulatory Outcomes\nBetter government engagement, consultation or guidance\nImplementation timeframe\nQ1 2025-26 to Q2 2028-29\nReview foreign investment conditions\nReview conditions on existing foreign investment approvals, initially focusing on low-risk investments, to\nidentify opportunities to remove or reduce reporting requirements while maintaining risk mitigation.", "impact": "Very High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Delivery teams / suppliers", "source": "strategies/better-regulation-roadmap-implementation-plan.pdf (http://www.cfr.gov.au/cfr-program/regulatory-coordination/better-regulation-roadmap/pdf/better-regulation-roadmap-implementation-plan.pdf)", "implementation": [ "Create a senior responsible owner and cross-functional delivery team.", "Map legislation, data, privacy, procurement, cyber, and workforce constraints.", "Co-design with users and frontline staff before technology selection.", "Stage delivery through pilots, benefits tracking, and public reporting." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability" ] } ], "legislation_administered": [], "artifacts": [ { "category": "strategies", "year": "2015", "url": "http://www.cfr.gov.au/publications/consultations/2015/evolution-of-the-bbsw-methodology/pdf/discussion-paper.pdf", "file": "strategies/discussion-paper.pdf", "bytes": 276670, "link_text": "Evolution of the BBSW methodology: 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