The Crest of the Commonwealth of Australia Treasury Portfolio Ministers
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Chris Bowen

Minister for Financial Services, Superannuation and Corporate Law

9 June 2009 - 14 September 2010

Ministerial Responsibilities within the Treasury Portfolio

Assists the Treasurer in the development, implementation and administration of policies in the Treasury portfolio.  Not included are those areas that are the responsibility of the Assistant Treasurer, and the Minister for Competition Policy and Consumer Affairs.

Financial services

Financial markets conduct, disclosure, investor protection and supervision issues (excluding prudential, monetary and foreign exchange policy) including the design, implementation and administration of legislation relating to markets, services and products.

Superannuation

Policy and administration including taxation and prudential regulation in relation to superannuation, and responsibility for the Australian Government Actuary.

Corporate governance

Development of policy and its implementation in relation to corporate governance, insolvency, accounting and audit regulations.

Administration of the Australian Securities and Investments Commission (ASIC) and representation on the Ministerial Council for Corporations.

Other responsibilities

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

Australia as a financial services hub

  • Financial market linkages between Australia and overseas.

Financial literacy

  • Ministerial responsibility for achieving government objectives in regard to financial literacy in raising public awareness and fostering initiatives that will build the capacity of Australians to make better decisions about their money.

Prudential regulation and financial institutions

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

Other

  • Representational duties, correspondence and administrative matters in general portfolio matters as referred by the Treasurer.
  • The Housing Loans Insurance Corporation (HLIC).