January 30, 2014
Media Release

Call for Initial Submissions

The Financial System Inquiry is calling for initial submissions on the issues set out in its terms of reference. The terms of reference are available on the Inquiry’s website.

As the Treasurer stated in his press release of 20 December 2013, the deadline for initial submissions is 31 March 2014.

Submissions on all of the terms of reference are welcome but respondents should not feel they must address each of the Inquiry’s terms of reference in making a submission. Submissions should highlight particular issues, ideas, data or research that may be relevant to the Inquiry.

An important role of the Inquiry is to assess the current state of the Australian financial system and the extent to which the system meets the needs of users of the system.  Respondents are invited to comment on the strengths of the system as well as identifying potential gaps and deficiencies.

The Inquiry would also welcome submissions on the factors likely to reshape Australia’s financial system over the foreseeable future. This will assist the Inquiry to make recommendations to the Government on positioning the system to best meet Australia’s evolving needs and support its economic growth.

Finally, the Inquiry would welcome practical suggestions for improving regulatory settings and reducing unnecessary compliance costs.

There will be a second call for submissions following release of the Inquiry’s Interim Report in mid‑2014.

Submissions will be published on the Inquiry’s website. Submissions (or parts of submissions) that are intended to remain confidential should be clearly labelled as confidential.

For further information, please contact fsi@fsi.gov.au.

David Murray AO,
Chairman, Financial System Inquiry

The Financial System Inquiry Final Report was released on Sunday 7 December 2014 and the Inquiry has concluded.

On Tuesday 20 October 2015 the Hon Scott Morrison and the Hon Kelly O'Dwyer released the Government's response to the Inquiry.