5.2 Objectives

Australia has sought to implement the G20 financial regulation workstream in a way that:

  • best targets the goals of improved transparency and financial system stability;
  • encourages global adoption, so that Australian businesses benefit from consistent global regulation;
  • causes the least possible disruption to existing Australian markets practices; and
  • leaves room for industry-led initiatives and market forces to encourage adoption.

However, conflicting and inconsistent global implementation has also required that Australia consider small changes to Australian law that can assist Australian businesses to access global markets, while remaining primarily regulated in Australia.