The Australian Law Reform Commission (ALRC) is undertaking a Review of the Legislative Framework for Corporations and Financial Services Regulation to inquire into the potential simplification of laws that regulate financial services in Australia.
The Terms of Reference set out three key areas for the focus of the Review to be examined through consultation reports:
- A first interim report focusing on the appropriate use of definitions in corporations and financial services legislation, released 30 November 2021;
- A second interim report focusing on regulatory design and the hierarchy of primary law provisions, regulations, class orders, and standards, is due by 30 September 2022;
- A third interim report focusing on potential reframing or restructuring of Chapter 7 of the Corporations Act is due by 25 August 2023.
A consolidated final report is due by 30 November 2023.
We are always keen to hear your valuable feedback and suggestions. Please let us know if there are any policy issues or concerns that affect you.
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