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Industry reports

Financial System Inquiry

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Efficient and effective funding of the Australian economyThe third Finsia Financial System Inquiry roundtable, held in April and hosted by National Australia Bank discussed one of the key issues to be addressed by the Murray Financial System Inquiry: the efficient and effective allocation of capital to fund the Australian economy.Karin Derkley Download
Is superannuation meeting its mandate?Ahead of the deadline for submissions to the Murray Inquiry into the financial services sector, Finsia convened a roundtable of industry experts to identify the strengths and weaknesses of Australia’s current superannuation system. The roundtable participants what discussed changes to policy, regulation and system structure are required to ensure the system remains affordable and effective.Bernard Kellerman Download
Australia as a regional financial playerThe first of Finsia’s Financial System Inquiry roundtables, hosted by King & Wood Mallesons, covered the technical and professional skills topics that will need to be addressed to ensure Australia’s financial services and funds management sector is “Asia ready”.Bernard Kellerman Download
Navigating Reform — Australia and the Global Financial CrisisThis report is structured around the following four key questions that arise from Australia’s experience of the GFC. Why was Australia’s experience of the GFC comparatively benign? What have we learned about financial markets and their regulation? How might we change our regulatory arrangements in light of the GFC? Can Australia’s experience of the GFC be used to press our strengths as a regional financial centre?  Download
Financial services regulation in focus While finance industry professionals concede the need for greater governance and enforcement, they largely agree that the underlying strength of Australia’s financial regulatory environment protected us from the worst of the global financial crisis, and that the comparatively strong position of Australia’s finance sector should be used to the best advantage. This and other findings are set out in this survey report.  Download

Retirement Risk Zone

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The role of asset allocation in navigating the retirement risk zone   Download
Sequencing risk — A key challenge to creating sustainable retirement incomeIf market risk were not challenging enough for superannuation funds, this important and unique research finds that the sequence in which returns are realised by investors plays a critical role in determining the sustainability of retirement incomes. This report is part one of the Retirement Risk Zone series.   Download
Financial wellbeing in retirementWhen the issue of financial wellbeing in retirement is raised, most people immediately think of superannuation and the aged pension. However, it actually encompasses a broad range of issues, most of which are complex and not well understood. This paper examines the sustainability of individual and public financial resources to support Australia’s ageing population.  Download
KiwiSaver and retirement savings in 2012As at July 2012, KiwiSaver has been operational for five years, with the first cohort of members now eligible to draw contributions. As KiwiSaver matures, the number of scheme participants eligible to realise their investments, and the size of those investments, will continue to grow. While this is a positive shift, taking account of factors such as population ageing, the growth of KiwiSaver membership and investment presents its own set of policy challenges.  Download
How safe are safe withdrawal rates in retirement? An Australian perspectiveThis study challenges the long-held convention that adequacy and sustainability of retirement savings is assured by a 4 per cent withdrawal rate — the 4% Rule. This report is part two of the Retirement Risk Zone series   Download
KiwiSaver and retirement savings in 2011Current population projections predict that one in five New Zealanders will be aged 65 or over by 2031, up from one in eight in 2009. This paper investigates public perceptions of the Kiwisaver scheme, and New Zealanders' understanding of the importance of saving for retirement.  Download

Diversity in financial services

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Lightbulb Moments: Gordon Cairns   Download
Lightbulb Moments: Stephen Roberts   Download
Lightbulb Moments: Philip Chronican   Download
Lightbulb Moments: Ian Narev   Download
Lightbulb Moments: Brian Hartzer   Download
Significance of the gender divide in financial services 2014Finsia survey that measures attitudes to policy responses to bridge the gender gap in financial services.   Download
Guidelines for gender balance performance and reporting AustraliaThese are a practical and relevant framework to enable Australian entities to raise their performance and reporting of gender balance in their workforce.  Download
Mythbusters — Seven myths about women and workRenowned journalist and author Catherine Fox examines and debunks seven of the most pervasive misconceptions and assumptions that perpetuate the scarcity of women in senior business roles in Australia’s finance industry.  Download
Promoting gender equity through transparencyThis discussion paper includes a set of draft principles against which companies can report in order to help benchmark, measure and address the employment gender divide in the financial services industry.  Download
Significance of the gender divide in financial services NZ 2012A survey of New Zealand-based financial services professionals about their perceptions of gender equity in the workplace.  Download
Significance of the gender divide in financial services 2012A survey of 962 financial services professionals about their perceptions of gender equity in the workplace.   Download

Foreign direct investment

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Regulating foreign direct investment in AustraliaWritten by Dr Stephen Kirchner, this discussion paper argues for fundamental reform of Australia's regulatory framework for assessing foreign direct investment.  Download

Research partnerships

Technology and innovation in financial services

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Financial services innovation in payments: Innovate to differentiateThis research paper seeks to evaluate the development of the New Payments Platform in Australia. It discusses how financial institutions can deal with the challenge of balancing the requirement to commoditise payments while providing consumers with the ability to securely pay anyone, anytime, anywhere.Daniel Biondi, Greg van der Pennen, Robert Tesoriero Download

Funding Australia’s future

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International linkages: Financial markets and technologyInternational capital flows can be facilitated directly through market based transactions or indirectly through intermediaries including banks and investment managers. In both cases, the financial infrastructure available to financial sector participants plays a key role in determining the efficiency and fairness of the transactions. This paper explores the efficiency and fairness of the financial markets most important to Australia.Professor Deborah Ralston, Martin Jenkinson Download
Financing the Australian business sectorThis paper analyses the supply of finance to the Australian business sector. It attempts to identify problems in the provision of finance to Australian business in terms of constricted volume of finance or high cost of finance. The paper then analyses the cause of these problems.Dr Sam Wylie Download
Regulating the Australian financial systemThis paper addresses some questions that have arisen since the Wallis Inquiry on how the financial system is best regulated to fund Australia’s future. Some stem from structural developments, including the growth of superannuation, the rise of Asia, the availability and complexity of financial products and the cost of financial services, or from advances in technology. Others arise from the Global Financial Crisis, which has been the catalyst for regulatory reforms around the world as previous approaches to regulation have been found wanting.Alex Erskine Download
Australian household sector financesProviding an overview of recent household savings, investment and borrowing trends, including rates of return, costs and risks, and types of financial products and services used (including in post-retirement) this paper considers how the financial sector currently contributes to household balance sheet development over the lifecycle.Professor Michael E Drew, Dr Adam N Walk Download