Book contents
- The Cambridge Handbook of Twin Peaks Financial Regulation
- The Cambridge Handbook of Twin Peaks Financial Regulation
- Copyright page
- Contents
- Figures
- Tables
- Contributors
- Foreword
- Acknowledgements
- 1 Introduction
- Part I Surveying the Terrain
- Part II The Trek towards Twin Peaks
- 5 Twin Peaks in Australia
- 6 Twin Peaks Financial Regulation in New Zealand
- 7 Identifying Lessons and Best Practices for the Twin Peaks Model
- 8 Twin Peaks in South Africa
- 9 The Role of the SARB as Central Bank in the South African Twin Peaks Model
- Part III Different Topographies
- Part IV Seismic Activity and Fault Lines
5 - Twin Peaks in Australia
The Never-Ending Trek?
from Part II - The Trek towards Twin Peaks
Published online by Cambridge University Press: 24 June 2021
- The Cambridge Handbook of Twin Peaks Financial Regulation
- The Cambridge Handbook of Twin Peaks Financial Regulation
- Copyright page
- Contents
- Figures
- Tables
- Contributors
- Foreword
- Acknowledgements
- 1 Introduction
- Part I Surveying the Terrain
- Part II The Trek towards Twin Peaks
- 5 Twin Peaks in Australia
- 6 Twin Peaks Financial Regulation in New Zealand
- 7 Identifying Lessons and Best Practices for the Twin Peaks Model
- 8 Twin Peaks in South Africa
- 9 The Role of the SARB as Central Bank in the South African Twin Peaks Model
- Part III Different Topographies
- Part IV Seismic Activity and Fault Lines
Summary
This chapter explores the Twin Peaks legal and regulatory framework in Australia, the challenges that have arisen in areas such as coordination and functional separation between the Twin Peaks regulators and the outcomes from numerous reviews in which the model has been subject to scrutiny. It explores the evolution of the Twin Peaks model in Australia and certain challenges that have arisen in governance, information-sharing and coordination, and funding arrangements. It then surveys the terrain in Australia by outlining the recommendations from a review of the financial system in 2014, the Financial System Inquiry (FSI), and subsequent recommendations and reforms, including those proposed by or arising out of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.
- Type
- Chapter
- Information
- Publisher: Cambridge University PressPrint publication year: 2021