Summary
Amends the: Corporations Act 2001 and 8 other Acts to implement recommendations by the Council of Financial Regulators in relation to Australia’s financial market infrastructure by: introducing a crisis management and resolution regime for domestic clearing and settlement (CS) facilities; expanding the licensing, supervisory and enforcement powers of the Australian Securities and Investments Commission (ASIC) and the Reserve Bank of Australia (RBA); and transferring certain powers relating to the licensing and supervision of CS facilities and financial markets to ASIC and the RBA; Australian Securities and Investments Commission Act 2001 and Corporations Act 2001 to phase-in new climate-related financial reporting requirements for entities; and Australian Securities and Investments Commission Act 2001, Corporations Act 2001 and Insurance Act 1973 to make minor and technical amendments.