Instant Access To 100,000+ Essays!

The financial system is essential to the well-being of all Australians. The system is undergoing change under the pressure of new market and customer needs, new technologies and global competitive forces. The last comprehensive review of the system was undertaken by the Australian Financial System Inquiry (the Campbell Committee), which presented its report in 1981. Decisions taken in the following years set in train substantial reforms of the regulatory framework generally described as ‘financial deregulation’. The Treasurer, the Hon. Peter Costello MP, established the present Financial System Inquiry in June 1996 with the following mission: The Inquiry is charged with providing a stocktake of the results arising from the financial deregulation of the Australian financial system since the early