The Financial Accountability Regime—Consultation on the Regulator rules and Transitional rules
The Financial Services Committee of the Business Law Section of the Law Council of Australia (the Committee) provided a submission to the Australian Prudential Regulation Authority (APRA) in relation to the consultation drafts of the:
- Financial Accountability Regime Act (Information for register) Regulator Rules 2023 (Cth) (the Regulator Rules);
- ADI Key Functions descriptions; and
- Financial Accountability Regime (Consequential Amendments) Transitional Rules 2023 (Cth) (the Transitional Rules).
These were released by the Australian Prudential Regulation Authority and the Australian Securities and Investments Commission (collectively, the Regulators) on 20 July 2023.