Australia's Council of Financial Regulators (CoFR) has started an independent review to assess its effectiveness and recommend a more strategic and purposeful future state, following a Heads meeting on 4 June. The review will examine CoFR’s structure, governance and alignment with its statutory purpose, benchmark similar overseas models, and explore ways to improve efficiency and reduce regulatory duplication. While the review is underway, CoFR will continue external meetings with industry bodies, deliver a regulatory initiatives calendar, progress work agreed through Cabinet papers and conduct Community of Practice engagements, with other work paused and no new work being undertaken. A final report is expected in mid-July 2025, and CoFR has published the review’s terms of reference.
Council of Financial Regulators (CoFR) 2025-06-10
Australia's Council of Financial Regulators begins independent review and pauses new work
Australia's Council of Financial Regulators (CoFR) has initiated an independent review to evaluate its effectiveness and propose strategic improvements, with a final report due in mid-July 2025. The review will focus on CoFR’s structure, governance, and statutory alignment, while ongoing external engagements and regulatory initiatives continue.