The Parliamentary Secretary to the Treasurer
has released the Corporate and Financial Services Regulation Review
Proposals Paper. The 35 proposals include suggestions to simplify
and improve regulation in the areas of:

• financial services;
• company reporting obligations;
• auditor independence;
• corporate governance;
• fundraising;
• takeovers; and
• compliance.

The time for submissions closes on 22 December 2006.

The corporations and financial services law reform proposals will be included in a Bill, to be introduced into the Parliament in 2007, entitled the Simpler Regulatory System Bill.