The Crest of the Commonwealth of Australia Treasury Portfolio Ministers
Picture of Bill Shorten

Bill Shorten

Assistant Treasurer and Minister for Financial Services & Superannuation

14 September 2010 - 14 December 2011

Ministerial Responsibilities within the Treasury Portfolio

Minister for Financial Services and Superannuation

Assists the Treasurer in the development, implementation and administration of policies in the following areas:

Financial services

  • Financial markets conduct, disclosure, investor protection and supervision issues (excluding monetary and foreign exchange policy)
  • Design, implementation and administration of legislation relating to markets, services and products.
  • Administration, and further development, of national consumer credit policy.

Prudential regulation and financial institutions

  • Administration of the Australian Prudential Regulation Authority (APRA).
  • Prudential regulation of banking, insurance and superannuation.
  • Levies on financial institutions, cheques and bills of exchange.

Australia as a financial services hub

  • Financial market linkages between Australia and overseas.

Superannuation

  • Policy and administration including taxation and prudential regulation in relation to superannuation, and responsibility for the Australian Government Actuary.
  • Consultation and implementation of the recommendations of the Cooper Review

Taxation

  • Design of taxation law as delegated by the Treasurer.
  • Administration of taxation laws and administrative matters relating to the Australian Taxation Office.
  • Taxation proposals in relation to compliance.

Foreign investment

  • Dealing with individual cases other than major and/or sensitive cases.
  • Oversight of the Foreign Investment Review Board (FIRB).

Other

  • Representational duties, correspondence and administrative matters in general portfolio matters as referred by the Treasurer.
  • The Housing Loans Insurance Corporation (HLIC).
  • The Australian Bureau of Statistics (ABS).
  • The Royal Australian Mint including currency and coinage.
  • The Board of Taxation.
  • Productivity Commission (PC).