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Open Consultations: 26 May 2023

Thursday 25 May 2023


Australian Prudential Regulation Authority
Consultation: Authorised deposit-taking institutions’ Points of Presence ReviewSubmit by 23 June 2023
Description: The Australian Prudential Regulation Authority (APRA) is reviewing its data collection publication following recommendation 7 in the
Regional Banking Taskforce Final Report published last September:
Australian Prudential Regulation Authority (APRA) to commence 2022 a review of its Authorised Deposit-taking Institutions (ADI) Points of Presence collection to better capture indicators on how banking services are accessed, with public consultation in early 2023.
Australian Transaction Reports and Analysis Centre
Modernising Australia’s anti-money laundering and counter-terrorism financing regimeSubmit by 13 June 2023
Description: Apart from capturing Designated Non-Financial Businesses and Professions, financial crime compliance professionals might expect a simplified and modernised regime more in line with current international standards. 
Australian Treasury
Treasury Laws Amendment (Measures for Consultation) Bill 2023: AFCA jurisdiction to hear superannuation matters. Submit by 16 June 2023.
Description:  This is a result of the decision made concerning MetLife v AFCA, where it was ruled that the Australian Financial Complaints Authority (AFCA) did not have jurisdiction to hear matters concerning section 1053(1), which explains when a superannuation complaint can be made under the AFCA scheme:

  (1)  A person may, subject to section 1056, make a complaint relating to superannuation under the AFCA scheme only if the complaint is a complaint:
                     (a)  that the trustee of a regulated superannuation fund or of an approved deposit fund has made a decision (whether before or after the commencement of this section) relating to:
                              (i)  a particular member or a particular former member of a regulated superannuation fund; or
                             (ii)  a particular beneficiary or a particular former beneficiary of an approved deposit fund;
                            that is or was unfair or unreasonable; or
                     (b)  that a decision, by a trustee maintaining a life policy that covers a member of a life policy fund, to admit the member to the fund was unfair or unreasonable; or
                     (c)  that the conduct (including any act, omission or representation) of an insurer, or of a representative of an insurer, relating to the sale of an annuity policy was unfair.

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