Objective 1.1

Ease of movement of people, capital, services and data across borders

Action 1.1D

The Government will support ASIC and APRA in promoting Australian and international standards for financial regulation through the International Organisation of Securities Commissions, Basel Committee on Banking Supervision, Financial Stability Board, and arrangements with key markets, including China, Japan and the Republic of Korea.

Department of the Treasury

Industry
recommendation/s
Description
Government response
Related Action/s
12A

Led by Treasury and ASIC, seek to negotiate bilateral regulatory cooperation arrangements with China, Japan and the Republic of Korea, to facilitate and implement agreed FTA market access commitments in the cross-border provision of portfolio administration and insurance services.

Agreed-in-principle
12B

Seek to negotiate bilateral cooperation agreements between ASIC, APRA and the Australian Tax Office (ATO) and their counterparts in China, Japan and the Republic of Korea to allow a wider range of wholesale (business-to-business) activities.

Agreed-in-principle

Progress to date

The UK-Australia FinTech Bridge deepens collaboration between governments, regulators, and industry bodies and supports improved access for Australian FinTech firms to the UK market.