Australia’s Financial Regulations provide a comprehensive framework that governs the financial services industry, ensuring stability, transparency, and integrity. These regulations cover a wide range of areas, including corporate governance, consumer protection, financial crime prevention, and market conduct.
Key legislation includes the Corporations Act 2001, National Consumer Credit Protection Act 2009, Corporations Regulations 2001 (Cth), ASIC Regulatory Guides, Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act), the Criminal Code Act 1995 (Cth), Financial Services: Australian Prudential Regulation Authority (APRA) standards, and Financial Sector Reform (Hayne Royal Commission Response) Act 2020.
All businesses operating in Australia’s financial sector, regardless of size, are required to comply with these regulations to maintain market confidence and protect consumers. Adhering to compliance ensures the following:
These regulations help ensure that financial markets operate fairly and transparently, promoting investor confidence and financial stability.
Businesses must adhere to consumer protection laws to ensure fair treatment, transparency, and accountability in their dealings with customers.
Adhering to international regulatory standards enhances global competitiveness and ensures seamless cross-border financial operations.
Complying with these laws helps avoid legal issues, hefty fines, and reputational damage, demonstrating your commitment to lawful and ethical business practices.
When investors know their interests are protected by robust regulations, their trust and loyalty to financial institutions increase.
The Corporations Act 2001 establishes the legal framework for companies, financial markets, and financial services in Australia. It sets out requirements for company formation, corporate governance, financial reporting, and disclosure.
This Act regulates consumer credit and financial services, ensuring that credit products are offered responsibly and transparently, protecting consumers from unfair practices and excessive charges.
The Corporations Regulations 2001 provide detailed rules and guidelines that support the implementation of the Corporations Act 2001, covering areas such as financial reporting, disclosure obligations, and corporate governance.
ASIC Regulatory Guides provide practical guidance on compliance with financial services laws and regulations, outlining ASIC’s expectations and offering best practice advice for industry participants.
The AML/CTF Act requires businesses to implement measures to detect and prevent money laundering and terrorism financing, including customer identification, transaction monitoring, and reporting suspicious activities.
This Act contains provisions related to financial crimes, including fraud, bribery, and corruption, establishing penalties and enforcement mechanisms to deter criminal conduct in the financial sector.
APRA oversees the prudential regulation of banks, insurance companies, and superannuation funds, ensuring the stability and resilience of Australia’s financial system through rigorous supervision and enforcement.
This Act implements reforms recommended by the Royal Commission into Misconduct in the Banking, Superannuation, and Financial Services Industry, enhancing consumer protections and strengthening regulatory oversight.
Safetrac’s online compliance training can assist your organisation in understanding and implementing corporate governance standards, ensuring your practices meet legal requirements. We offer tailored training modules to help your staff stay compliant and protect shareholder interests.
Safetrac provides comprehensive online compliance training for managing consumer credit compliance, including responsible lending practices, disclosure requirements, and complaint handling, ensuring your organisation can offer credit products responsibly and ethically.
We can help your workplace navigate ASIC’s regulatory expectations, providing training, compliance checklists, and best practice advice to ensure your financial services operations are lawful and aligned with industry standards.
Our compliance courses ensure your business can effectively prevent and detect financial crime, offering training on AML/CTF obligations, risk assessments, and reporting procedures, minimising legal risks and protecting your reputation.
We offer compliance courses to help you comply with APRA’s prudential standards, ensuring your organisation maintains financial stability and resilience, protecting depositors and policyholders.
| Law | Regulator | Recommended Course | |
|---|---|---|---|
| Law | Regulator | Recommended Course | |
| Corporations Act 2001 | Australian Securities and Investments Commission (ASIC) | National Consumer Credit Protection Training Course | Find out more |
| National Consumer Credit Protection Act 2009 | ASIC | Anti-Bribery and Corruption Training Course | Find out more |
| AML/CTF Act 2006 | AUSTRAC | AML/CTF Training Course | Find out more |
| APRA Prudential Standards | APRA | Prudential Standard 520 Fit and Proper Training Course | Find out more |
| Financial Sector Reform Act 2020 | ASIC, APRA | RG 234 Advertising Financial Products Training Course | Find out more |
