Ministerial Responsibilities within the Treasury Portfolio

Minister for Financial Services and Superannuation

Assists the Treasurer in the development, implementation and administration of policies in the following areas:

Financial services

• Financial markets conduct, disclosure, investor protection and supervision issues (excluding monetary and foreign exchange policy)
• Design, implementation and administration of legislation relating to markets, services and products.
• Administration, and further development, of national consumer credit policy.

Prudential regulation and financial institutions

• Administration of the Australian Prudential Regulation Authority (APRA).
• Prudential regulation of banking, insurance and superannuation.
• Levies on financial institutions, cheques and bills of exchange.

Australia as a financial services hub

• Financial market linkages between Australia and overseas.

Superannuation

• Policy and administration including taxation and prudential regulation in relation to superannuation, and responsibility for the Australian Government Actuary.
• Consultation and implementation of the recommendations of the Cooper Review

Taxation

• Design of taxation law as delegated by the Treasurer.
• Administration of taxation laws and administrative matters relating to the Australian Taxation Office.
• Taxation proposals in relation to compliance.

Foreign investment

• Dealing with individual cases other than major and/or sensitive cases.
• Oversight of the Foreign Investment Review Board (FIRB).

Other

• Representational duties, correspondence and administrative matters in general portfolio matters as referred by the Treasurer.
• The Housing Loans Insurance Corporation (HLIC).
• The Australian Bureau of Statistics (ABS).
• The Royal Australian Mint including currency and coinage.
• The Board of Taxation.
• Productivity Commission (PC).