The Australian Financial Security Authority’s intervention in Jon Adgemis’ financial affairs has drawn much attention. The Federal Court orders to enter Adgemis into bankruptcy followed independent actions by AFSA and the Australian Taxation Office. While the headlines focus on personalities, the lesson is broader: effective insolvency regulation is an engine of productivity, economic growth and renewal.
The federal government has put regulation at the centre of its productivity agenda, dedicating part of the Economic Reform Roundtable to it, with a clear challenge: regulate with a growth mindset. That means proportionate, purposeful and outcomes focused regulation, overseen in ways that encourage participation and confidence.
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