The Inquiry presented its report to the Treasurer in March 1997.
The Treasurer announced on 30 May 1996 the establishment of an Inquiry into the Australian financial system, to report to him by 31 March 1997.
The Inquiry is directed to provide a stocktake of the results arising from the financial deregulation of the Australian financial system since the early 1980s. The forces driving further change will be analysed, in particular, technological development. The Inquiry will make recommendations on the nature of the regulatory arrangements that will best ensure an efficient, responsive, competitive and flexible financial system to underpin stronger economic performance, consistent with financial stability, prudence, integrity and fairness.
The Inquiry is chaired by Australian businessman, Mr Stan Wallis and will be supported by a full time secretariat. The Secretary will be Mr Greg Smith who has been seconded from the Treasury. The secretariat will be responsible exclusively to the Inquiry and will include staff from the private sector and staff seconded from other agencies.
The Inquiry may be contacted at:
The Financial System Inquiry Secretariat
C-/ Treasury Building
PARKES ACT 2600