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The MFAA attended the federal government’s Regulator Performance Framework briefing last week to discuss key issues with a number of industry stakeholders.
The event was an opportunity for the industry body and was facilitated at ASIC’s Sydney office by a network of key regulator representatives.
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“The MFAA is committed to having a voice in these discussions and directly representing our network of 11,000 members,” MFAA chief executive Siobhan Hayden said.
“This was a key chance to find out more about the framework and discuss the way forward with other stakeholders.”
The new Regulator Performance Framework was released in October 2014 as part of the government’s election commitment to reduce the cost of inefficient regulation forced on individuals, business and community organisations by at least $1 billion every year.
It established a shared set of performance measures that allows for “comprehensive assessment of regulator performance and engagement with stakeholders”.
All Commonwealth regulators will be assessed by six key performance indicators: reducing regulatory burden; communications; risk-based and proportionate approaches; efficient and coordinated monitoring; transparency; and continuous improvement.
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