Better Regulation Roadmap

Download the Better Regulation Roadmap – Implementation Plan [250KB]

The Council of Financial Regulators (CFR) are working together to deliver better regulation of the financial sector, aiming to improve efficiency through regulatory reform without compromising financial stability, consumer protection and market integrity.

This reform agenda is being undertaken in collaboration by the CFR (APRA, ASIC, RBA and Treasury) with other financial sector regulators – the Australian Competition and Consumer Commission (ACCC), the Australian Financial Security Authority (AFSA), the Australian Taxation Office (ATO) and the Australian Transaction Reports and Analysis Centre (AUSTRAC) – collectively known as ‘CFR Plus’.

The roadmap comprises a series of coordinated activities the CFR Plus are undertaking to advance the Government’s better regulation agenda. These coordinated activities include implementing the regulator’s commitments made as part of the Economic Reform Roundtable in 2025, streamlining data collections and data sharing, and identifying priority legislative reforms to support better regulation.

Reform initiatives will be included in the Regulatory Initiatives Grid (RIG) where relevant, in line with the RIG coordination principles. The RIG is published in March and September on the Treasury website, and covers regulatory reform priorities and initiatives that will materially affect the financial sector over the next 2 years.

Implementing commitments for regulatory reform

The CFR Plus has published an implementation plan for regulatory reform commitments. The implementation plan includes over 50 commitments made as part of the Economic Reform Roundtable. They can be categorised into three key themes:

• simplification and removal of duplication
• enabling digital and data capability
• improving government engagement, consultation or guidance

The commitments cover a range of regulatory reform initiatives and while each individual commitment is incremental, the CFR Plus considers that they will collectively have a meaningful impact on the financial sector.

Improving data collection and cross-regulator data sharing

The CFR Plus is examining opportunities to streamline and harmonise data collections, and ways of enhancing data sharing across regulators. There have been a number of industry engagements and sector-specific deep dives held in 2025 to explore the issues around data duplication and to canvas ideas for improved data sharing.

CFR Plus plans to update this roadmap with further detail on initiatives in 2026, with the goal of making data reporting more efficient, transparent, and coordinated.

Legislative reform

CFR Plus are reviewing feedback from industry on legislative reforms which could improve financial sector regulation, including submissions provided prior to the Economic Reform Roundtable. This prioritisation process will inform advice to Government on options that could be progressed, with the aim of improving efficiency without compromising financial stability, consumer protection and market integrity.