KPMG’s response to the Treasurer on the FSI Final Report

KPMG’s response to the Treasurer on FSI Final Report

KPMG welcomed the opportunity to make a submission on the recommendations set out in the FSI Final Report as part of the Government’s consultation on the Inquiry’s recommendations.

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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.

Financial System Inquiry

Read our latest thinking and insights on the Financial System Inquiry, which we welcome as an opportunity to improve a broadly sound financial system.

 
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