FSC urges Australia to show regional ambitions
The Financial Services Council has called for a new industry body and reform of the country's tax and regulatory systems so it can compete with Hong Kong and Singapore.
Australia’s Financial Services Council (FSC) has urged domestic policymakers to internationalise the nation's $2.3 trillion domestic fund industry to rival Hong Kong and Singapore.
This call by the council – which represents domestic asset managers, superannuation funds, life insurers, advisory networks and trustee firms – comes just two days after Singapore, Malaysia and Thailand jointly released the framework for the Asean fund passport.
The FSC wants the Australian Securities…
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