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Treasury has released the second edition of the Regulatory Initiatives Grid (RIG), setting out a two-year roadmap of financial reforms aimed at cutting red tape and improving coordination between regulators.
Introduced in 2024, the RIG provides a clearer picture of upcoming policies, legislation, and programs across the finance sector. It helps agencies, regulators, and businesses plan ahead – particularly in areas where overlapping consultations and data collection have previously slowed progress.
A key update is the inclusion of three Coordination Principles, now part of the RIG’s terms of reference. Regulators are required to avoid overlapping consultations, sequence related reforms more effectively, and reduce duplication by sharing data between agencies. Treasury said these measures stem from the Economic Reform Roundtable, where the government tasked the Council of Financial Regulators with streamlining data-sharing and coordination.
The new framework aims to progress reforms efficiently while recognising the capacity limits of industry to adapt.
The second edition also reflects recent administrative changes. The Australian Financial Security Authority has moved under Treasury, while AUSTRAC has shifted to the Home Affairs portfolio – clarifying oversight of insolvency and anti–money laundering regulation.
Several reforms are highlighted in the grid. These include new rules to streamline Australia’s foreign investment approval process, tighter scrutiny for high-risk proposals, and faster assessment of low-risk cases. A Cash Distribution Regulatory Framework, developed by the Council of Financial Regulators and the ACCC, will safeguard access to physical currency. The government also plans to introduce consistent labelling and disclosure standards for sustainable investment products across managed funds and superannuation by 2027.
Other initiatives cover reforms to the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, updates to the Payment Systems (Regulation) Act 1998, and new best-practice principles for superannuation funds to improve post-retirement outcomes.
The RIG also lists ongoing collaborative projects, including the Financial Accountability Regime jointly administered by ASIC and APRA, and Project Acacia, a multi-agency initiative exploring how digital money and tokenised assets could function in Australia’s financial system.
Treasury said the RIG will be updated twice a year, in March and September, and refined through ongoing stakeholder consultation. Feedback submitted by April each year will inform future editions. The Regulatory Initiatives Grid is available as a report, interactive dashboard, and Excel workbook on Treasury’s website.
