House of Representatives Standing Committee on Financial Institutions and Public Administration

Committee activities (inquiries and reports)

Reviews of the 1995-96 annual reports of the Reserve Bank of Australia, Australian Securities Commission and the Insurance and Superannuation Commission

The Committee tabled its report Reviews of the 1995-96 annual reports of the Reserve bank of Australia, Australian Securities Commission and the Insurance and Superannuation Commission on 29 September 1997. Copies of the full report are available in PDF format (151KB) and from the Committee Secretariat.

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Table of contents of report

FOREWORD

MEMBERS OF THE COMMITTEE

TERMS OF REFERENCE

ACRONYMS AND ABBREVIATIONS

RECOMMENDATIONS

CHAPTER ONE: REVIEW OF ANNUAL REPORTS 1995-96

Introduction
Conduct of the reviews

CHAPTER TWO: RESERVE BANK OF AUSTRALIA

Introduction
Monetary and fiscal policy

Unemployment
Interest rates and inflation

Conduct of monetary policy
Small business
Bank profitability
Future regulatory arrangements
Cheque clearance

The cheque clearing process
Electronic presentment
Costs associated with cheque processing

Other matters

RBA's commercial operations
Recent innovations
Derivatives

Conclusion

CHAPTER THREE: AUSTRALIAN SECURITIES COMMISSION

Introduction
Investment advisers
Prospectuses
Crown immunity
Changes to Corporations Law
Phoenix companies
Insider trading
Derivatives
Proposed demutualisation of the Stock Exchange
Council of Financial Supervisors
Funding cuts

CHAPTER FOUR: INSURANCE AND SUPERANNUATION COMMISSION

Introduction
Derivatives
Superannuation review program and outcome
Compensation for financial losses
Fraud detection
Retirement savings accounts
Superannuation levy
The regulatory framework

APPENDIX 1: INDEX OF SUBMISSIONS

APPENDIX 2: LIST OF HEARINGS AND WITNESSES (A copy of the public hearing transcripts is available in PDF format)

APPENDIX 3: STATEMENT ON THE CONDUCT OF MONETARY POLICY

Media release

The following media release was issued by the Committee when it tabled its report: 29 September 1997 Making the regulators accountable.

Speeches

• Tabling speech: Mr D Hawker MP (Chairman), 29 September 1997
• Tabling speech: Mr G Wilton MP (Deputy Chairman), 29 September 1997

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