Election 2020 - Party Policies - Economy - Regulation
25th Jul 20, 5:55am
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Regulation
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- Cut existing ineffectual regulations and ensure new regulations were of a high-quality.
- Allow affected firms and individuals to sue the Government if regulations were unfair or ineffective.
- Restrain the Government's power to force new legislation through Parliament and automatically repeal all new regulations 10 years after they were passed, unless they are reviewed and actively re-introduced.
- Abolish the Government's oil and gas exploration ban and ill-considered agricultural methane and water regulations.
- Replace the Zero Carbon Act and Emissions Trading Scheme with a transparent and simple carbon price linked to that charged by our international competitors and trading partners.
- Allow farmers to use innovative technologies to reduce their greenhouse gas emissions and improve productivity.
- Read more here and here.
- Ensure that derivatives and securitisation are fully regulated.
- Require auditors to draw attention to instruments that they do not fully understand and to list them as unquantifiable risks.
- Require that trustees and auditors ensure investments fit with the investment strategy and prospectus, and ensure that trustees monitor, report on and, if necessary, require cancelling of related party transactions beyond legal limits.
- Regulate the broader financial sector to ensure depositors are adequately informed of the risks they are taking and vulnerable depositors are not exploited, including regular publication of "Plain English" information on risks.
- Introduce mandatory guidelines for the advertising of financial products and services to protect vulnerable depositors and ensure full compliance with consumer legislation.
- Review controls on lending to ensure that people and businesses can get the financing they need without excessive risk of default.
- Reintroduce Depositors’ Guarantee Schemes for registered banks, funded by the licensed institutions, rather than the taxpayer.
- Set capital adequacy ratios for all lending institutions.
- Read more here and here.
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