Legislation: more competition in financial markets

Parliament has passed legislation to improve competition in the trading of shares and other securities. The Treasurer, Jim Chalmers, noted that the legislation “will support competition in clearing and settlement services, which are critical to the functioning and stability of financial markets“.

The summary of the Act provides, in part:

Amends the: … Competition and Consumer Act 2010 to provide the Australian Competition and Consumer Commission with the power to conduct binding arbitration to resolve disputes regarding access to certain CS services; …

See Treasury Laws Amendment (2023 Measures No 3) Bill 2023

See also

• The Hon Dr Jim Chalmers MP (Treasurer) and The Hon Stephen Jones MP (Assistant Treasurer and Minister for Financial Services), ‘New Legislation to Promote More Competition in Financial Markets’ (Media release, 6 September 2023)