BLO 3405 Lecture Notes - Lecture 1: Consumer Protection
31 Jul 2021
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Securities - part b - guarantees, banker"s liens and freezing orders. Week 1-12: written assignment (25%) week 6 and week 10. Introduction to the australian banking system and regulations. Under the cth constitution s 51(xiii), the federal govt has power to make laws with respect to banking. Nature and scope of law regulating financial institutions in australia (a) sources of banking law: financial deregulation (a) deregulatory steps taken since 1980"s include: Removal of official controls on all bank interest rates. Floating of the exchange rate and removal of exchange rate controls (1983) Entry of new players such as foreign banks and new domestic banks (1985) introduction of new system of regulation based on prudential guidelines and monitoring ( based on wallis report, 1997) (b) wallis enquiry. Promotion of efficient and cost-effective services for users. Current regulatory model as a result of wallis enquiry.
