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Financial Services Council promotes financial adequacy for all Australians

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The Financial Services Council has over 130 members who combined are responsible for investing more than $11.8 trillion on behalf of 11 million Australians.

Members of the Council include:

  • retail and wholesale funds management businesses
  • superannuation funds
  • life insurers
  • financial advisory networks
  • trustee companies; and
  • public trustees.

The Council states that its mission is "to represent the interests of our members, our members' clients and customers, all investors and superannuation fund members, life insurance policy holders, users of financial advice and trustee services."

In order to achieve this, the Council continuously engages in advocacy concerning the development of the social, economic and regulatory framework in which its members operate, thereby helping them to better serve their clients and customers.

Further, the Financial Services Council states that it is committed to:

  • being open, transparent, and collaborative
  • encouraging ethical and equitable behaviour by members through the development of industry standards
  • negotiating the creation of efficient regulatory regimes; and
  • creating "level playing fields" and competitive markets.

As the financial services is the largest sector in the Australian economy, the Council notes, it has an obligation to speak out on macro-economic policy issues.

Current priorities for the Financial Services Council are:

  • working to improve the well being of all Australians
  • promoting financial adequacy for all Australians
  • increasing consumer confidence in the industry
  • promoting efficiency, integrity and good regulation; and
  • continuing to improve the professionalism and success of the FSC and its members.

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