This research report is part of a project, funded by the Australian Research Council, which will contribute to broader understanding role financial literacy and consumer behaviour in Australia. The explores causes considers whether suboptimal has other than lack literacy. Part A explains importance identifies benefits consumers, community, economy markets. B meaning reviews surveys conducted worldwide refers academic literature explain key competencies proficiencies financially literate...

There are approximately 7,000 registered company auditors in Australia according to the Australian Securities and Investments Commission. This report, which was commissioned by Minister for Financial Services Regulation, examines Australia's existing legislative professional requirements on independence of compares them with equivalent overseas requirements. Where appropriate, report proposes measures strengthening The also reviews a large number empirical studies relating auditors.

Financial product design and distribution obligations commenced in Australia October 2021. These require issuers to financial products that meet the needs of an identified target market take reasonable steps ensure is distributed market. The have been described as requiring be designed a way meets consumers. Enforcement undertaken by Australian Securities Investments Commission (ASIC). ASIC has wide range enforcement powers relation obligations, including issuing stop orders, accepting...

In this article, we focus on one of the most important statutory protections for Australian consumers in financial hardship: right to seek a variation credit contract contained s 72 National Credit Code. We provide comprehensive history right, which has been part consumer law since 1970s. Over years, it evolved from very limited an extension time pay debt grounds illness and unemployment, broader provision that requires providers comply with prescribed process before they can commence...

... Coordinated global government action alone, were it possible, would be insufficient to mitigate the significant potential economic and financial impacts of climate change transition sustainable economies. Achievement goals Paris Agreement on change1 will require a major shift in investment patterns, necessitating trillions dollars low-carbon climate-resilient infrastructure.2 Ensuring that new infrastructure is low carbon increases its cost.3 Climate adaptation an additional $280–500...

An important and controversial corporate governance issue is the extent to which share ownership by directors increases performance. Some commentators suggest that increasing directors’ shareholdings in their companies provides with incentive improve Other high levels of director may simply entrench directors. We examine whether there a positive relationship between level performance for 180 listed Australian companies. find that, some circumstances, such does exist but results differ...

Employee share ownership ("ESO") schemes have recently been the subject of public policy interest in Australia. Employees owning shares company for which they work potentially has a number ramifications, not least is prospect that these might circumvent problematic employees as "outsiders" corporate governance.

The key aspects and features of personal insolvency law in Australia the factors that indicate is an increasingly middle class phenomenon are discussed. reach expanding has altered demographics Australian insolvents.

This research report presents findings from a survey of employee share ownership practice in Australian listed companies. The focused on broad-based plans (ESOPs): that is, are open to majority employees within the company. purpose this study was fourfold: (1) inform public policy debate issue through providing, for first time, detailed account plan companies; (2) examine how, if at all, regulatory framework taxation and corporate law is impacting upon decision by companies implement ESOPs...

An important debate concerns the meaning of duty imposed on company directors to act in best interests company. Are shareholders' paramount when accordance with this duty? To what extent can stakeholders other than shareholders be considered by directors? Does need changed facilitate socially responsible behaviour There have been significant international developments addressing these questions. For example, United Kingdom was reformulated 2006. In Australia, two recent government inquiries...

... An effect of the Global Financial Crisis (GFC) has been renewal regulatory coordination and integration as a topic central importance. This is highlighted by academic discussion, policy proposals steady emergence empirical examples integration. The precise nature these discussions, extremely varied in both their complexity sophistication. Although an important body scholarly literature emerged concerning area derivatives regulation,1 to date focused on analysing specific initiatives...

This research report provides detailed analysis of data collected from a major survey into how company directors balance the competing and sometimes conflicting interests stakeholder groups, including employees, creditors shareholders. The findings have significant policy implications. obligations toward stakeholders whether law directors' duties needs to be changed been subject much public debate. There government inquiries on this topic in number countries. However, there has little...

Journal Article Cross-border cooperation in financial regulation: crossing the Fintech bridge Get access Lev Bromberg, Bromberg Search for other works by this author on: Oxford Academic Google Scholar Andrew Godwin, Godwin Ian Ramsay Capital Markets Law Journal, Volume 13, Issue 1, January 2018, Pages 59–84, https://doi.org/10.1093/cmlj/kmx041 Published: 08 December 2017 history Accepted: 27 October

This paper examines accounting and non‐accounting based restrictive covenants in Australian private debt agreements. With respect to the former, our findings differ from previous research on public debt. We find more varied definitions of constraints their specified tightness contracts than contracts. Further, limits interest cover are found be continuing not ‘once‐off’ limits. The reports frequent use specific or ‘tailored’ inclusion off‐balance sheet numbers measurement rules specified....