CFR

The CFR is the coordinating body for Australia's main financial regulatory agencies. There are four members: the Australian Prudential Regulation Authority (APRA), the Australian Securities and Investments Commission (ASIC), the Australian Treasury and the Reserve Bank of Australia, which chairs the Council. It is a non-statutory group, without regulatory or policy decision-making powers. Those powers reside with its members. The Council's objectives are to promote stability of the Australian financial system and support effective and efficient regulation by Australia's financial regulatory agencies. In doing so, the Council recognises the benefits of a competitive, efficient and fair financial system... The CFR is a non-statutory body. That is, it has no legislative backing and as a consequence has no formal regulatory or policy decision-making powers. Those powers rest with its members under their respective acts. Instead, the CFR operates as a means for cooperation and coordination..

Primary location: Sydney Australia