Regulation of Stored-value Facilities in Australia: Conclusions of a Review by the CFR
Download the complete Report [396KB]
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