Louise Denver 
Financial Services Media Relations
Deloitte
Mobile: 0414 889 857
Tel: +61 (0) 2 9322 7615

Vessa Playfair
Director of Media & Communications
Deloitte
Mobile : 0419 267 676
Tel : +61 (0) 2 9322 7576

A report released yesterday in Washington D.C. has singled out the supervisory oversight model used by Australia and the Netherlands as closest to ‘optimal’ and highlighted it as the one that a number of other countries are ‘engaged in debates over adopting’.

Launched by Paul Volcker, Chairman of the Group of Thirty (G30) Board of Trustees and former Chairman of the U.S. Federal Reserve Board, the comprehensive G30 report, The Structure of Financial Supervision: Approaches and Challenges in a Global Marketplace provides insights into the current challenges facing the global financial system and information to inform future banking regulation reforms.

Sarah Woodhouse, Deloitte Wealth Management and Regulatory leader said, “The report was compiled by the G30 Regulatory Systems Working Group with the active support of the Deloitte Center for Banking Solutions. It compares and analyses the financial regulatory approaches across 17 jurisdictions including Australia.

“Of the four principal models of supervisory oversight, the Twin Peaks approach, the one that Australia and the Netherlands have adopted, is singled out by the report as maybe ‘the optimal means of ensuring that issues of transparency, market integrity, and consumer protection receive sufficient priority.’ It is the one that others are ‘engaged in debates over adopting’,” Ms Woodhouse said.

“The report highlights that the countries looking at our APRA, ASIC-like model include France, Italy, Spain, and the United States of America,” she said.

Sarah Woodhouse
Wealth Management and Regulatory Leader,
Deloitte 
Tel: +61 (0) 2 9322 7510

Graham Mott
Financial Service Partner,
Deloitte
Tel: +61 (0) 2 9322 7970