AFCF Institutional Arrangements

Flowchart showing the Australian Financial Centre Forum Institutional Arrangements

Chairman

  • The Chairman will provide a leadership role in establishing and promoting Australia as a leading financial services centre in the region.
  • The Chairman is the key spokesperson for the Australian Financial Centre Forum and is responsible for liaising with the Government on the progress of promoting Australia as a leading financial services centre.

Panel of Experts

  • The Panel of Experts will work with the Chairman to set out a ‘vision’ of what this initiative should be seeking to achieve and develop a blueprint encompassing a coherent policy framework for positioning Australia as a leading financial services centre. This will involve identifying the Australian financial sector’s comparative advantages, the opportunities for growing the sector through increased international trade and investment, and the policy priorities for enhancing the international competitiveness of the sector.

Reference Group

  • The Reference Group comprises representatives from the peak Australian financial sector industry organisations, Austrade, the State and Territory Governments and the Financial Sector Union.
  • The Reference Group is responsible for identifying a clear set of priorities for positioning Australia as a leading financial services centre.

Treasury Taskforce

  • The Treasury Taskforce is responsible for establishing the institutional arrangements to promote Australia as a leading financial services centre and will provide appropriate support to the Chairman and the Panel of Experts in developing a vision and a blueprint to progress this initiative.
  • The Treasury Taskforce will input on policy issues throughout the process and review the policy priorities and proposals put forward by Panel of Experts and the Reference Group. The Treasury Taskforce will also facilitate progress on the key policy and regulatory issues identified to enhance the international competitiveness of the Australian financial services sector.

Financial Sector Advisory Council (FSAC)

  • FSAC will have an ongoing role in providing advice to the Government on proposed initiatives to position Australia as a leading financial services centre. FSAC will also provide advice to the Treasury Taskforce.