Government establishes regulatory grid

The government has established the Regulatory Initiatives Grid, aiming to better streamline and coordinate regulation in the financial sector to help build a more competitive, dynamic and productive economy.

The government announced development of the RIG earlier this year, modelled on a similar grid in place in the UK.

The RIG aims to provide clear visibility of regulatory changes that will materially affect financial service providers over the next two years and help these businesses engage with the government and regulators more effectively.

The RIG houses a forward program of key initiatives from agencies including the ASIC, APRA, the ACC, the RBA, the ATO, AUSTRAC, and the Australian Financial Security Authority.

The RIG will be updated twice a year and include information from a range of financial sector regulators. To incorporate feedback on this first edition, the second edition of the RIG will be published in the second half of next year.

It is available in three formats: a RIG Report, an interactive dashboard, and an Excel workbook.