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The Never-Ending Trek?
from Part II - The Trek towards Twin Peaks
Published online by Cambridge University Press: 24 June 2021
This chapter explores the Twin Peaks legal and regulatory framework in Australia, the challenges that have arisen in areas such as coordination and functional separation between the Twin Peaks regulators and the outcomes from numerous reviews in which the model has been subject to scrutiny. It explores the evolution of the Twin Peaks model in Australia and certain challenges that have arisen in governance, information-sharing and coordination, and funding arrangements. It then surveys the terrain in Australia by outlining the recommendations from a review of the financial system in 2014, the Financial System Inquiry (FSI), and subsequent recommendations and reforms, including those proposed by or arising out of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.
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