Growth and Consolidation

Since the Wallis Inquiry the financial system as a whole has grown significantly, especially the superannuation sector. The system has also seen considerable consolidation and integration, particularly in banking.

Against this backdrop of growth and consolidation, and noting the consequences of the global financial crisis, the Inquiry observes several issues, including: opportunities for improvement in competition and contestability, distortions in funding flows, and issues with the efficiency and policy settings of the superannuation system.