Regulation of financial institutions

Financial institutions are subject to a range of regulators – in addition to those of the competition authorities. Putting submissions to these regulators requires knowledge and skills in finance and in industrial economics.

Frontier works with leading financial institutions advising them on strategy in dealing with regulators. Frontier also drafts submissions and expert reports that are put to regulators who are conducting reviews of financial institutions.

We have advised in the following matters:

• Regulation of credit cards – Frontier was retained by the Australian banks to assist them in putting submissions to the Reserve Bank of Australia during the first review of credit card regulation. (2002)
  
• Regulation of debit cards – Frontier was retained by merchants to assist them in opposing authorisation of the agreement among the banks to fix the level of interchange applicable to debit cards. The Australian Competition Tribunal refused to grant authorisation. The Reserve Bank proceeded to regulate debit interchange directly. (2005)
  
• ASIC consultation on new market proposals – Frontier was retained by the ASX to assist them in putting submissions to ASIC during the consultation. (2007) 
  
• Reserve Bank review of regulation of credit and debit card regulation – Frontier was retained by Mastercard to assist them in putting submissions to the Reserve Bank review of its regulation of credit and debit regulation. (2007)