Post by Australian Finance Industry Association

Great to see industry and regulatory leaders come together at AFIA’s Risk Summit to engage in forward-looking, practical discussions. Day two opened with a keynote from ASIC Commissioner Kate O’Rourke highlighting ASIC’s role in supporting Australia’s productivity agenda, who then joined AFIA CEO Diane Tate for a fireside conversation setting the tone for the day ahead. Dr Scott Farrell, Data Standards Chair for the Consumer Data Right (CDR) and Digital ID, presented on fairness and competition in the data economy before opening the floor to questions, hosted by Roza L., AFIA’s Executive Director Policy and Public Affairs. AUSTRAC’s CEO Brendan Thomas shared insightful remarks on emerging risks in competition and conduct enforcement, with a Q&A session moderated by Dr Emma Penzo PhD, AFIA’s Head of Regulatory Policy. Carly Kind, Australia’s Privacy Commissioner, shared an update from the Office of the Australian Information Commissioner, as organisations prepare for expanded Privacy Act coverage under AML/CTF reforms and new transparency requirements for automated decision-making. Finally, Australian Financial Security Authority (AFSA) CEO Tim Beresford presented on AFSA’s role in a changing credit landscape, covering financial resilience, insolvency and the Personal Property Securities Register (PPSR). Thank you to our regulatory stakeholders for engaging openly with our members and responding directly to their questions. AFIA looks forward to building on this momentum with continued conversations and collaboration. #AFIA #RiskSummit #Regulation #CustomerOutcomes