Read our latest thinking and insights on the Financial System Inquiry, which we welcome as an opportunity to improve a broadly sound financial system.
Read our latest thinking and insights on the Financial System Inquiry.
As international and domestic markets evolve to respond to the changes in consumer behaviour, patterns of trade and investment, funding, ageing demographics and new technology, the Australian financial system and regulatory framework should adapt to ensure both a stable and efficient market, as well as an environment that supports innovation and economic growth.
The world is changing profoundly as broad demographics shift and change the fundamental things consumers want our of their financial system; as market systems globalise and become more interconnected; and as technology facilitates a revolution in consumption and communications.
Looking to the next decade (and beyond), there are both major opportunities and risks associated with the level of change that is likely to occur. Australia has historically had an excellent track record of regulating for change and creating the frameworks and systems needed to ensure our system is robust and yet flexible enough to encourage innovation. KPMG is confident our already sound financial system and regulatory architecture will be even further enhanced by the FSI.
Gary Gill and Mark Tims explore how the FSI recommendation will drive innovation.