Published impact analyses

Independent Review – Australian Prudential Regulation Authority

On 5 August 2021, the Australian Prudential Regulation Authority (APRA) announced a final revised Prudential Standard APS 111 Capital Adequacy: Measurement of Capital (APS 111).

The updates to the Prudential Standard on capital adequacy are designed to reinforce financial system resilience, promote simple and transparent capital issuance through removing the allowance for the use of special purpose vehicles (SPVs) in regulatory capital issuance, and clarify aspects of APS 111 to assist Authorised Deposit-Taking Institutions issue capital instruments.

Problem being addressed
The Regulation Impact Statement (RIS) identifies a number of inefficiencies in existing pricing arrangements for holders of radiocommunications apparatus licences, following recommendations from the Spectrum Pricing Review (SPR) made by the Department of Infrastructure, Transport, Regional Development and Communications. The SPR was endorsed by the then government in February 2018.
This RIS extends on the implementation of reforms under the 1st tranche of the Spectrum Pricing Review in June 2021. An independent review was certified in lieu of a RIS regarding the 1st tranche of the review.

Proposal

The RIS proposes that the preferred option is to update the pricing formula to better reflect current demand with the intention to smooth demand across spectrum locations and geographic locations.

Assessed RIS outcome
Good practice
 

Announcement date
12 July 2022
 
Link to announcement
New rules to fight SMS scams | ACMA

Announcement date
7 July 2022
 

Link to announcement
Material change in network infrastructure project costs | AEMC
 

Announcement date
10 June 2022

Link to announcement
National Quality Framework Review (nqfreview.com.au)

Problem being addressed
The National Quality Framework (NQF) provides a national approach to the regulation of the quality of education and care services across Australia. The review identified three areas for improvement to ensure the NFQ continues to support quality, safe early childhood education: poor information accessibility; administrative and regulatory compliance burdens; and unacceptable hazards or risks to children. In December 2018, Commonwealth, state and territory education ministers agreed to commission the review to ensure the NFQ is fit for purpose and complies with best practice regulatory standards.  

Announcement date
14/06/2022
 

Link to Announcement

https://asic.gov.au/about-asic/news-centre/find-a-media-release/2022-releases/22-142mr-asic-remakes-relief-on-pdss-superannuation-dashboards-and-fsgs/

Links to Newly Remade Instruments

ASIC Corporations (In-use Notices for Employer-sponsored Superannuation and Superannuation Dashboards) Instrument 2022/496 - https://www.legislation.gov.au/Details/F2022L00762

Announcement date
30/06/2022
 

On 30 June 2022, the Australian Prudential Regulation Authority (APRA) released a Post-Implementation Review (PIR) for Basel III liquidity reforms, which has been assessed as adequate by the Office of Best Practice Regulation (OBPR).

Two core measures of the reforms - the Liquidity Coverage Ratio (LCR) and the Net Stable Funding Ratio (NSFR), became effective from 2015 and 2018 respectively, with the objectives of: 

Announcement date
3 March 2022

Link to announcement
https://www.legislation.gov.au/Details/F2022L00253

Problem being addressed
It is difficult for smaller wholesale broadband providers to roll out their networks due to the requirement that they structurally or functionally separate their wholesale and retail businesses once they have more than 2,000 customers. Under this threshold, providers are exempt from the separation requirements.

Proposal
Increasing the class exemption threshold from 2,000 to 12,000 for small broadband businesses.

Assessed RIS outcome
Adequate

Announcement date
1 April 2022

Link to announcement
Telecommunications Service Provider (Customer Identity Authentication) Determination 2022

Link to announcement
https://consultation.accc.gov.au/product-safety/toppling-furniture-consultation-regulation-impact/