Our draft regulatory charter defines our approach to regulation strategies, priorities and programs for our personal insolvency and Personal Property Securities Register (PPSR) services.
AFSA strives to be a firm and fair regulator, delivering equitable financial outcomes for consumers, business and the Australian community.
We’ve been considering our role as a regulator within the financial services sector, undertaking a project to honestly assess what we do, how we do it and why we do it. This helps us to see where we need to change or improve our practices, including how we think about the work we do.
An outcome of this review is the development of our regulatory charter.
Our regulatory charter outlines our framework and approach to regulation taken in our strategies, priorities and programs and applies across the agency.
We are keen to hear what you think about our proposed regulatory charter, with a focus on increasing the compliance rate of users of our systems and the proposed compliance model.
We are also looking for thoughts on the possible inclusion of a strengths-based regulatory approach to supplement our current compliance approach. The goal of strengths-based regulation is to contain a suite of escalating strategies designed to support and encourage positive behaviour, while continuing to act against those who are deliberately avoiding their obligations or misusing the systems we regulate.