Weekly Update: 13 June 2025

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Highlights this week:

• Anthony Albanese announced that Jim Chalmers will convene a growth and productivity roundtable in August involving figures from business, civil society and unions.

Quote of the week:
“Just as co-operation between different levels of government is vital to securing the services and support that Australians expect and deserve, co-operation between government, business and unions is essential to securing our future growth and prosperity.”

– Anthony Albanese, Prime Minister. Address to the National Press Club, 10 June 2025.

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Media & Communications Update:

• The ABA and COTA have developed a media release to mark Elder Abuse Awareness Day, reminding Australians to have a conversation about financial harm.

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Parliamentary Update:

• On Tuesday, Anthony Albanese addressed the National Press Club to outline the government’s second-term agenda.
• Tasmania is heading to a snap election on 19 July after Premier Jeremy Rockliff, having lost a no-confidence motion, advised the Governor to dissolve Parliament on 10 June.

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Policy Update:

• The Council of Financial Regulators held its regular quarterly meeting this week with the statement available here.
• The ABA attended the DSB Industry Forum for CDR and Digital ID.
• The ABA met with:
  • GetVerified and NZBA to discuss comparative approaches to scam regulation and data sharing.
  • AUSTRAC to discuss implementation planning for AML/CTF Rules.
  • the AASB to discuss the ongoing implementation of AASB S2.
  • AFSA to discuss work they are undertaking in improving small business understanding and visibility of the PPSR and personal insolvency.
• Finalised feedback to PEXA on proposed changes to its Participation Agreement with Financial Institutions, driven by CPS 230 uplift requirements
• Sent feedback to the Queensland Government regarding potential changes to the Queensland Home Warranty Scheme.
• Anna Bligh attended the Prime Minister’s address to the National Press Club.
• A farewell event for ABA CEO Anna Bligh was held this week, with Treasurer Jim Chalmers and Assistant Treasurer Dan Mulino in attendance among others.

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Regulatory Update

• APRA issued a consultation paper on modifying the capital framework for annuities.
• APRA wrote to all Registrable Superannuation Entity licensee board chairs, reinforcing expectations around information security and the implementation of robust authentication controls.
• RBA Head of Domestic Markets, David Jacobs, gave a speech titled ‘Australia’s Bond Market in a Volatile World’ at the Australian Government Fixed Income Forum in Tokyo.

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Coming up next week:

• Data:
  • 19/06 – Labour Force

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Upcoming Submissions:

Published submissions

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Upcoming Events:

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Selected Media

• The Australian – Australia, get ready for the great wealth transfer
• AFR – Henry tells Chalmers to stop ‘fiddling’ and launch into tax reform
• SMH – The big change coming to your buy now, pay later options today
• ABC -US dollar hits multi-year low as analysts warn of dangers of Trump policies
• News.com.au – Bank staff stop elderly customer from being fleeced of life savings

Warm regards,
The ABA Team

Weekly Update