Regulation of Stored-value Facilities in Australia: Conclusions of a Review by the CFR

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The Council of Financial Regulators (CFR) has undertaken a review of the regulation of stored-value facilities (SVFs) in Australia. The recommendations in this report are aimed at modernising regulatory arrangements for SVFs, recognising the potential for such facilities to play a more prominent role in the payments system in the future as has occurred in some other jurisdictions. The CFR has sought to simplify the regulatory framework in a way that is conducive to innovation, while providing appropriate consumer protections.

The report follows an Issues Paper published by the CFR in September 2018 for public consultation