New Financial Services Gateway Website

Joint media release: Assistant Treasurer Bill Shorten and Trade Minister Craig Emerson

1 July 2011

Austrade, the Australian Trade Commission, today launched an online portal which will help international investors navigate Australia’s financial sector while enhancing the country’s appeal as a regional investment hub.

Assistant Treasurer and Minister for Financial Services and Superannuation, Bill Shorten, welcomed the launch of the Gateway portal.

“This initiative will promote understanding of Australia’s regulatory environment and act as a central destination to guide potential investors to information regarding our banking, superannuation, insurance and funds management sectors,” Mr Shorten said.

The Financial Services Gateway portal was created in response to one of the recommendations of the Australian Financial Centre Forum’s report Australia as a Financial Centre: Building on our Strengths, also known as the Johnson Report.

It was developed by Austrade in close consultation with various regulatory bodies, including the Australian Prudential Regulation Authority, the Australian Securities and Investment Commission, the Treasury and the Australian Financial Centre Taskforce.

Content will be maintained by the relevant agencies, and Austrade will be the initial point of contact for offshore inquiries.

Trade Minister Craig Emerson said the creation of Gateway was further evidence of the Gillard Government’s commitment to making Australia more attractive as an investment destination.

“Good, clear information is vital to decision-making about investments in a foreign country,” Dr Emerson said.

“By creating this portal to Australia’s financial sector and its regulators we are helping streamline inward investment by international fund managers, corporations and other investors.”

Gateway built on previous Government reforms to strengthen Australia's reputation as a financial services centre, Mr Shorten said.

“The Government will continue to work hard to promote Australia as a prime destination for foreign investment and as a regional centre of excellence for fund management,” he said.

The Financial Services Gateway can be accessed via the Austrade website found at: www.austrade.gov.au/financialservices.

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