Council of Financial Regulators updated Charter and Crisis Management Memorandum of Understanding – July 2025

The Council of Financial Regulators (the Council) has today published an updated Charter, reinforcing cooperation arrangements for contributing to financial stability across its members: the Australian Prudential Regulation Authority (APRA), the Australian Securities and Investments Commission (ASIC), the Australian Treasury and the Reserve Bank of Australia (RBA).

The Council is the main coordinating body for financial regulatory agencies in Australia, with the ultimate aim of promoting the stability of the Australian financial system. It sees effective and efficient regulation, alongside the promotion of competition in the financial system, as consistent with this aim. The Council works to identify and coordinate actions to address systemic risks and vulnerabilities, support the coordination of financial regulation, and maintain crisis management readiness. As Australia’s financial regulators have complementary and, in some cases, shared mandates and responsibilities in relation to financial stability, it is important that member agencies continue to work closely with one other.

The Council’s updated Charter clarifies the outcomes it seeks to achieve and the roles of member agencies, reflecting developments in its operating model in recent years. The Council has also updated the related Memorandum of Understanding on Crisis Management, which sets out a framework for coordination across agencies to support the Australian financial system in instances of potential or actual financial instability.