Report on the Financial Services Reform Bill 2001

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Report on the Financial Services Reform Bill 2001

August 2001

View the report as a single document - (PDF 586KB)

View the report as separate downloadable parts:


Membership of the Committee	(PDF 118KB)
Duties of the Committee

Chapter 1 - The Committee's Inquiry	(PDF 77KB)

Chapter 2 - Background to the Bill	(PDF 127KB)
Changes to the exposure draft Bill Summary

Chapter 3 - Outline of the Bill	(PDF 129KB)
Objects of Part 7 Key definitions Definition of financial product Definition of financial service Licensing of financial markets Licensing of clearing and settlement facilities Limits on involvement with licensees Compensation arrangements Licensing of providers of financial services Disclosure and other conduct requirements for licensees Other provisions relating to conduct Financial product disclosure Market misconduct and other prohibited conduct Title to securities and other matters Telephone monitoring during takeover bids Amendments Possible Future Amendments Timing and Transitional Arrangements

Chapter 4 - Support for the Bill and process issues	(PDF 140KB)
Introduction Support for the Bill Concerns about the process ASIC: administrator and regulator of financial reform Timing and consultation Transitional licensing arrangements

Chapter 5 - Policy issues raised by the Bill	(PDF 294KB)
Introduction Overview of issues raised Revoking of the media exemption Telephone tape recording proposal Issues relating to Australia as an international financial centre Issues raised by authorised deposit taking institutions (ADI) Issues which affect small business Issues relating to the insurance industry Issues relating to declared professional bodies Consumer protection issues Superannuation

Chapter 6 - Conclusions and recommendations	(PDF 136KB)
Support for the Bill Concerns about the process Revoking of the media exemption Telephone tape recording proposal Issues relating to Australia as an international financial centre Issues raised by authorised deposit taking institutions (ADI) Issues which affect small business Issues relating to the insurance industry Issues relating to declared professional bodies Consumer protection issues Superannuation

Labor Members Minority Report	(PDF 146KB)

Australian Democrats Supplementary Report	(PDF 94KB)

Appendix 1 - Submissions received	(PDF 80KB)

Appendix 2 - Witnesses at hearings	(PDF 74KB)

For further information, contact:

Committee Secretary
Parliamentary Joint Committee on Corporations and Financial Services
PO Box 6100
Parliament House
Canberra ACT 2600
Australia

Phone: +61 2 6277 3583

Fax: +61 2 6277 5719

Email: corporations.joint@aph.gov.au

Phone:	+61 2 6277 3583
Fax:	+61 2 6277 5719
Email:	corporations.joint@aph.gov.au