Productivity Commission’s Inquiry into Competition in the Financial System
The Productivity Commission’s draft report on Competition in the Australian Financial System was released on 7 February 2018.
Read the overview and draft report
Consistent with recent press coverage, the report finds some notable failings in competitive behaviour in markets of home loans and SME finance. The unbalanced effect of regulation on competition is highlighted in the draft Report.
The Productivity Commission recommends that financial regulators collectively now place more emphasis on competition, after a sustained period of stability following the GFC, striking more of a balance between competition and financial stability.
The Productivity Commission welcomes submissions or comments on the draft report by 20 March.
The Productivity Commission is also holding public hearings for this inquiry which will be held in Sydney on 28 February and 1 March, and in Melbourne on 5 and 6 March. If you wish to attend any of these sessions either as a participant or observer you will need to register online with the Productivity Commission.
The final report is expected to be handed to the Australian Government by 1 July 2018.
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