Key Points:
The Financial System Inquiry is intended as a sweeping
review that will tailor Australia's financial system to current
and future challenges.
The Federal Government has announced a "root and branch"
review of Australia's financial system, charged with examining
how the financial system should be positioned to best meet the
nation's evolving needs and support economic growth.
Proceeding from the Government's broader deregulation agenda,
the Financial System Inquiry (FSI) aims to develop recommendations
that will foster an "efficient, competitive and flexible
financial system" consistent with principles of
"financial stability, prudence, integrity and
fairness".
On 20 November 2013, Treasurer Joe Hockey MP and Prime Minister
Tony Abbott MP announced the appointment of Mr David Murray AO,
former Future Fund Chairman and Chief Executive Officer of
Commonwealth Bank, to head the Inquiry. Also comprising four
eminent Australians from the finance,
