In both cases, this occurred under provisions requiring the overseas regulatory regime to be deemed ‘sufficiently equivalent’ to that in Australia and supervisory cooperation arrangements to be concluded with the relevant overseas regulators. The resulting oversight regime maintains a broad equivalence of standards, avoids regulatory overlap and provides for deference to the home regulator.
You also need to have coordination between the authorities. In addition to information gathering, we’ll have more resources devoted to analysis and also have the ability to make policy recommendations. BIS Review 167/2010  1  When you say policy recommendations do you mean just in terms of regulation or also in the context of monetary policy?