Opinion
There’s a simple way to simplify the red tape strangling business
The Australian Law Reform Commission has set out a blueprint to fix our financial service laws mess. It must not be allowed to gather dust.
Glenda HansonCorporate lawyerAt ASIC’s annual forum on Thursday chair Joe Longo called on legislators, regulators and business to work together on reducing complexity in financial services regulation, in the interest of handing future generations a more efficient and effective system.
It is a welcome call. Our financial services law is a mess that hurts the Australian economy through lower productivity and higher costs for all. ASIC will kickstart the process with consultation, but legislation will be needed.
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