Banks, superannuation funds and insurers are set to fork out 10 per cent more to fund the work of the prudential regulator thanks in part to the fallout from the Hayne banking royal commission.
In a discussion paper released by Treasury on Tuesday, the government said banks, insurers and super funds would be required collectively to pay $236 million in the 2020 financial year in supervisory levies. That is a 10.6 per cent increase from this financial year.
