The Minister for Financial Services & Regulation, Joe Hockey today announced the set-up of a taskforce to inquire into the operation of industry self-regulation in Australia.
"I have set up the taskforce to provide feedback to Government, to industry and to consumers on what constitutes best practice in industry self-regulation," the Minister said.
"The taskforce will identify where different forms of self-regulation have worked well and why that self-regulation has worked well. This is a big picture inquiry into self-regulation in Australia.
"My objectives in setting up this taskforce are to reduce the regulatory burden on business, to identify best practice in self-regulation, and to ultimately improve market outcomes for consumers."
The taskforce will undertake extensive consultations, including with peak business organisations, small business groups, consumer representatives and government bodies. In particular, the taskforce will be interested in listening to people with direct experience in developing or implementing industry self-regulation.
"I am keen to learn from this process and I have appointed a taskforce that is prepared to go out into the marketplace and hear what people have to say.
"To obtain the optimal mix of experience and viewpoints on the taskforce, I have appointed a range of people with expertise in business, consumer policy and regulation."
The taskforce will be chaired by Professor Berna Collier, who is the Clayton Utz Professor of Commercial Law and Director of the Centre for Commercial and Property Law, at the Queensland University of Technology.
The list of taskforce members is attached.
12 August 1999 38/99
Media contact: Matthew Abbott, Ministers office, 02 6277 7230, 0413
076 213
Treasury contact: Janet Murphy, 02 6263 3992
The Minister's media releases and speeches are available on www.minfsr.gov.au
SELF-REGULATION TASK FORCE
Chair:
Berna Collier
Clayton Utz Professor of Commercial Law and Director of the Centre for
Commercial and Property Law
Members:
Peter Daly
Chair, Insurance Enquiries and Complaints Ltd and the Life Insurance
Complaints Service Ltd
Louise Sylvan
CEO, Australian Consumers Association
Mark Paterson
CEO, ACCI
Johanna Plante
CEO, Australian Communications Industry Forum
Ella Keenan
National President of Business and Professional Women of Australia
Rob Edwards
CEO, Australian Direct Marketing Association
Marina Santini Darling
GIO Australia Holdings Ltd, National Trustees Ltd, Public Transport
Corporation of Victoria, Southern Cross Broadcasting (Australia) Ltd and
Argo Investments Ltd.
Gary Potts
The Treasury