On the 3rd of March 2022, the Federal Government confirmed its strong expectation that Australian superannuation funds will review their investment portfolios and take steps to divest any holdings in Russian assets.  

The revised Foreign Financial Services Provider Bill was introduced on 17 February 2022 in the House of Representatives. 

The Financial Accountability Regime Bill 2021 and Financial Services Compensation Scheme of Last Resort (“CSLR”) Levy Bill 2021 and related bills were referred to the Senate Economics Legislation Committee (“Committee”) for inquiry and report by 15 February 2022. 

Spiro Premetis has started at the FSC as our Executive Director for Advocacy, bringing with him extensive experience in financial services policy and politics.

As we draw stumps for 2021, it’s natural that we may feel in some way compelled to look back and reflect on the year we’ve, at times, had to struggle to get through. 

The financial services industry is closing out a challenging 2021, not only as a result of the continuing reverberations from COVID-19, but due to the significant waves of regulation that were implemented or commenced operation.