Our submission outlined KPMG’s views on a number of recommendations, including those regarding:
- Resilience: Capital levels, narrowing mortgage risk weight differences, loss absorbing and recapitalisation capacity, crisis management, and leverage ratio.
- Superannuation and retirement income: The objectives of the superannuation system, and the retirement phase of superannuation.
- Innovation: Collaboration to enable innovation, digital identity, crowdfunding and comprehensive credit reporting.
- Consumer outcomes: Strengthening product issuer and distributor accountability.
- Regulatory system: Strengthening regulator accountability and competition in the financial system, compliance costs and policy processes, updating the Cyber Security Strategy and rationalisation of legacy products.