Review legislation, guidelines and operating framework to:
- Make it easier for business to:
- Understand and comply with operational legislation.
- Understand, manage and predict financial liabilities.
- Clarify penalties and remedies for any individual or organisation who knowingly directly and/or indirectly mishandle customer, taxpayer or other funds.
- Ensure that people affected by intentional improper behaviour receives appropriate protection, assistance and proportionate compensation.
Review processes and penalties:
- Relating to available funds, balances, minimum (re)payments and electronic transactions.
- For any individual or entity who knowingly directly or indirectly mishandles customer, taxpayer or other funds.
- For any individual or entity who knowingly provides misleading, inaccurate, incorrect or legally questionable conduct and/or advice relating to directly and/or indirectly accepting and managing customer, taxpayer or other funds.