- Members Portal
- ABA Website
Lack of clarity clouds the nation’s rule of law
3 February 2022
The Australian: One of the defining tests of a nation’s adherence to the rule of law is whether its laws are accessible, clear and predictable. Australia is falling short of that mark when it comes to the regulation of corporations and financial services.
In September 2020, the federal government called an inquiry after former High Court judge Kenneth Hayne put the case for reform in the final report of his royal commission into financial services.
This was about much more than merely plugging gaps and enacting more laws. Hayne suggests that if the goal is to stamp out misconduct, the clarity of corporate law might be just as important as its quantity.
Latest news
Key News: “The Cash Distribution Framework is an important piece of regulatory reform to ensure the continued availability of cash given the decline in its usage and recent uncertainties across the sector.” ABA CEO Simon Birmingham. Media release, 3 September 2026. Media & Communications Update: Political Update: Economic Update: Regulatory Update Upcoming Submissions Selected Media… Read more »
Key News: “You might just think it’s harmless letting somebody access your bank account and getting a few hundred bucks in return, but these are crime syndicates, these are money launderers. You may well be helping to scam a vulnerable Australian out of their life savings.” ABA CEO Simon Birmingham. Interview with 2SM’s Tim Webster,… Read more »
Key News: “Every dollar of bank profits that gets reinvested into bank capital, generates on the analysis we showed this week, $4.70 of economic activity across the Australian economy.” ABA CEO Simon Birmingham. Interview with Ross Greenwood, 21 June. Media & Communications Update: Political Update: Economic Update: Regulatory Update Upcoming Submissions Selected Media Warm regards,The… Read more »