The Council of Financial Regulators (CFR) is the coordinating body for Australia's main financial regulatory agencies. It is a non-statutory body whose role is to contribute to the efficiency and effectiveness of financial regulation and to promote stability of the Australian financial system. Its membership comprises the Reserve Bank of Australia (RBA), which chairs the CFR; the Australian Prudential Regulation Authority (APRA); the Australian Securities and Investments Commission (ASIC); and The Treasury. In the CFR, members share information, discuss regulatory issues and, if the need arises, coordinate responses to potential threats to financial stability. The CFR also advises Government on the adequacy of Australia's financial regulatory arrangements.
Type of Body
D. Advisory Body - Policy and Stakeholder Consultation
Established By / Under
Agreement / Treaty / Council Order
Established By/Under More info
Recommendation of the Financial System Inquiry in 1997 (the Wallis Committee), its key documents are MOUs between the four agencies