House of Representatives

Financial Sector Reform (Hayne Royal Commission Response No. 2) Bill 2020

Explanatory Memorandum

(Circulated by authority of the Treasurer, the Hon Josh Frydenberg MP)

Glossary

The following abbreviations and acronyms are used throughout this explanatory memorandum.

Abbreviation Definition
APRA Australia Prudential Regulation Authority
ASIC Australian Securities and Investments Commission
Bill Financial Sector Reform (Hayne Royal Commission Response No. 2) Bill 2020
Corporations Act Corporations Act 2001
Financial Services Royal Commission Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry
Financial Services Royal Commission Final Report The Final Report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry
Ongoing fee arrangement A type of arrangement defined in section 962A of the Corporations Act and the subject of amendments implementing recommendation 2.1 (see Schedule 1 to this Bill).
SIS Act Superannuation Industry (Supervision) Act 1993


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