Editor’s note:
On 7 July 2020, ½ñÈÕÈÈÃÅʼþwrote to the Secretariat of the House of Representatives’ Standing Committee on Economics (Committee), providing further information relevant to the opening statement.
Opening statement by Sean Hughes, ½ñÈÕÈÈÃÅʼþCommissioner, at the House of Representatives Standing Committee on Economics (Australia's four major banks and other financial institutions), 3 June 2020.
CHECK AGAINST DELIVERY
Thank you Chair. My name is Commissioner Sean Hughes and I am representing the ½ñÈÕÈÈÃÅʼþ today, I wish to table a brief opening statement. Joining me today from ½ñÈÕÈÈÃÅʼþis Mr Warren Day,Regional Commissioner Victoria and Executive Director, Assessment and Intelligence, as well as Mr Tim Gough, acting Executive Director, Financial Services.
- ASIC’s understanding of the redraw issue
- ASIC’s interaction with ME Bank on this issue
- Outline the process that entities undertake to report breaches to ASIC; and finally
- The communication we have had with other regulators and agencies on this issue.
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