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Competition in Financial Services

154 Pages Posted: 29 Sep 2015  

Carolyn M. Evans

University of New South Wales (UNSW) Faculty of Law; ThinkEvans Pty Ltd

Deborah Healey

University of New South Wales (UNSW) - Faculty of Law

Marina Nehme

UNSW Australia

Rob Nicholls

UNSW Business School; UNSW Law Centre for Law, Markets and Regulation

Date Written: August 25, 2015

Abstract

The Centre for International Finance and Regulation and UNSW Australia jointly funded this research under CIFR Project T20. The Centre for International Finance and Regulation is funded by the Commonwealth and NSW Governments and is supported by other Consortium members. The research question for this project was ‘What are the optimal competition law and policy settings that should apply to the financial services sector?’

The research question was driven by two Australian Government inquiries which will affect competition policy in the financial services sector: the Financial System Inquiry chaired by David Murray and the Competition Policy Review, chaired by Professor Ian Harper.

The project has three objectives.

The first is to investigate the nature of competition in certain sectors of the financial markets. Meeting this objective will provide Australian evidence on which decisions as to the competitive settings in the sector can, or should be, adjusted.

The second is to consider the mechanisms by which competition in the financial services sector can be promoted. This includes an analysis of the approaches used on an international basis for the promotion of competition in financial services. Meeting this objective will provide evidence on which decisions as to allocation of responsibility for promoting competition can be made.

The third is to consider the sector-specific competition settings in the financial sector, including the balance between competition and stability. As the global financial crisis did not provide Australia with direct experience of the practical limitations of this balance, the work investigates theoretical approaches and international experience. Meeting this objective will provide evidence for appropriate policy settings if there are to be any sector-specific competition policy exemptions.
Research.

Suggested Citation

Evans, Carolyn M. and Healey, Deborah and Nehme, Marina and Nicholls, Rob, Competition in Financial Services (August 25, 2015). CIFR Paper No. RR/2015. Available at SSRN: https://ssrn.com/abstract=2666851 or http://dx.doi.org/10.2139/ssrn.2666851

Carolyn M. Evans

University of New South Wales (UNSW) Faculty of Law ( email )

Sydney
Australia

HOME PAGE: http://www.law.unsw.edu.au/profile/carolyn-evans

ThinkEvans Pty Ltd ( email )

PO Box 112
Coogee, NSW 2034
Australia

HOME PAGE: http://www.thinkevans.com.au

Deborah Healey

University of New South Wales (UNSW) - Faculty of Law ( email )

Kensington, New South Wales 2052
Australia

Marina Nehme

UNSW Australia ( email )

UNSW Sydney NSW
Kensington, NSW 2052
Australia

HOME PAGE: http://www.law.unsw.edu.au/profile/marina-nehme

Rob Nicholls (Contact Author)

UNSW Law Centre for Law, Markets and Regulation ( email )

Kensington, New South Wales 2052
Australia
+61 4 1264 6477 (Phone)

HOME PAGE: http://www.law.unsw.edu.au/user/1923

UNSW Business School ( email )

Sydney, NSW 2052
Australia
+61412646477 (Phone)

HOME PAGE: http://https://www.business.unsw.edu.au/

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