Skip to content
Banking, Government Federal

House Economics Committee to focus on financial sector competition in upcoming APRA hearing

House of Representatives 2 mins read

The Australian Prudential Regulation Authority (APRA) will appear at a House of Representatives Standing Committee on Economics public hearing on 2 June 2023.

APRA will be discussing the Review of the APRA Annual Report 2022 as well as giving evidence to the Inquiry into promoting economic dynamism, competition and business formation.

Chair Dr Daniel Mulino MP said that with the committee investigating issues including competition, business formation and productivity, APRA’s perspective on how these issues play out in Australia’s financial system would be invaluable.

‘APRA must balance the benefits of efficiency, competition, contestability and competitive neutrality with financial stability — something that can be challenging to do as new technologies are introduced at rapid pace and great scale.

‘Australia is a world leader in FinTech, and APRA plays a critical role in balancing risk with the opportunities, such as broader consumer choice, that these technologies provide.’

The committee will also be discussing the wider activities of APRA as part of its review of the agency’s 2021-22 Annual Report.

‘APRA is an essential pillar of our regulatory environment. Strong and proactive prudential supervision and the promotion of financial system stability is one of the reasons Australia’s financial system is one of the safest in the world,’ Dr Mulino said.

‘Superannuation, insurance and banking are central elements of Australians’ lives — and understanding the challenges facing APRA in these areas is of continual interest.’

More details about the inquiries and upcoming public hearings are available on the committee’s website.

Public hearing details

Date : 2 June 2023
Time : 9.00am to 11.30am
Location : Committee Room 1R3, Parliament House, Canberra

The public hearing will also be broadcast live at

Media inquiries

Committee Chair
02 6277 4311

For background information

Committee Secretariat
02 6277 4587

For more information about this committee, visit its website. On the site, you can make a submission to the inquiry, read other submissions, and get details for upcoming public hearings. You can also track the committee and receive email updates by clicking on the blue ‘Track Committee’ button in the bottom right-hand side of the page.

More from this category

  • Government Federal
  • 08/12/2023
  • 02:07
The Justice Initiative

Advocates Deliver Over 540,000 Signatures Demanding Increased Regulation to Combat Child Sexual Abuse Online

The Petition's Delivery to EU Institutions Marks the First Mass Public Outcry Calling for Legislators' Attention Amid Global DebatesBRUSSELS, BELGIUM / ACCESSWIRE / December 7, 2023 / Since 2022, proposed legislation to combat online child abuse -- the Regulation to Prevent and Combat Child Sexual Abuse -- has gone through a number of iterations, the latest of which child protection advocates view as a compromise too far. This echoes happenings globally, as legislation in countries like the United States and United Kingdom face roadblocks. However, with over 540,000 signatures, a petition submitted to the European Union demonstrates mass support to…

  • Disability, Government Federal
  • 07/12/2023
  • 14:10
RMIT University

NDIS review: scheme will continue to be a “fiscal sinkhole”

An expert from RMIT University says the review is disappointing and is effectively recommending more of the same when what is needed is wholescale reform. Dr David Hayward, Emeritus Professor, Public Policy and the Social Economy Topics: NDIS, healthcare, care economy, disability, social policy, aged care, childcare “The NDIS review is disappointing and confirms it will continue to be a fiscal sink hole. “Rather than offering solutions it is effectively recommending more of the same when what is needed is wholescale reform. “The review is full of ideas for reform involving new forms, new types of bureaucracy and bureaucrats with new…

  • Government Federal, Taxation
  • 07/12/2023
  • 13:36
Australian Taxation Office

Appointment of next Commissioner of Taxation

The Hon Dr Jim Chalmers MP, Treasurer, has today announced the appointment of Mr Rob Heferen as the next Commissioner of Taxation, Registrar of the Australian Business Register, the Australian Business Registry Services, and Register of Foreign Ownership of Australian Assets. Mr Heferen has been appointed to a 7-year term starting 1 March 2024. Current Commissioner Chris Jordan’s term runs through to February 2024. ‘I congratulate Rob on his appointment,’ Commissioner Jordan said. ‘Being Commissioner of Taxation has been the highlight of my career and I am enormously proud of what the ATO has achieved over the past 10 years,’…

Media Outreach made fast, easy, simple.

Feature your press release on Medianet's News Hub every time your distribute with Medianet. Pay per release or save with a subscription.