Government Response to Financial System Inquiry

Posted by IFS on October 21, 2015

The Government established a Financial System Inquiry (‘the Inquiry’) in late 2013, delivering on an election commitment to hold a root and branch examination of Australia’s financial system. The Inquiry, chaired by Mr David Murray AO, was asked to make recommendations that would position the financial system to best meet Australia’s evolving needs and support economic growth. The Inquiry found that Australia has a well performing financial system.

The Government’s Financial System Program to be implemented progressively is designed to:

  • strengthen the resilience of the financial system;
  • improve the efficiency of the superannuation system;
  • stimulate innovation in the financial system;
  • support consumers of financial products being treated fairly; and
  • strengthen regulator capabilities and accountability

The full report can be read here. For further information about Limited Recourse Borrowing Arrangements within SMSF please contact our office on 07 5562 2200.

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