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Corporate social responsibility Gavin McCosker
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Corporate social responsibility Gavin McCosker

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  • 1. Gavin McCosker Chief Operating Officer Australian Financial Security Authority Corporate Social Responsibility – the interaction with registry operations
  • 2. • A holistic approach • Public good • Equity of access • Ethical supply chains • Transparent environmental standards Corporate social responsibility
  • 3. • Familiar with values of corporate social responsibility • Influence behaviour of corporations • Work in partnership What role can government play?
  • 4. • Significant micro-economic reform • Replaced: - around 70 pieces of federal, state and territory legislation - and about 30-40 national, state and territory registers. Personal Property Securities reform
  • 5. • Support economic growth • Reduce cost of doing business - one national register - single low fee • Reduce complexity • Increase consistency Intention of PPSR
  • 6. Different channels – same functionality -Credit Bureau -Banks -Non-bank finance companies -Information brokers -Small/medium business -Non-bank finance companies -Individuals -Small/medium business -Individuals Consistentfunctionality
  • 7. • Online register - available 24 / 7 • Supported by national service centre • Direct registrations and searches by anyone – individuals or corporations • Private companies can use register to offer value-added services • Significant reform – supports private sector risk management and access to capital Personal Property Securities Register
  • 8. • Current - authentication of users via email • Future • Standard Business Reporting (xBRL) • Proof of identity for individuals (secure online automated system) • Proof of identity for business through AUSkey (business to government online system) • Consistent with online insolvency system Data integrity is critical – start from the front door
  • 9. •Secure interaction with other registers • Validation at the point of entry (registration and search) • Companies register (ASIC) • Australian Business Register (Tax office) • Vehicle information (VIN, stolen, written off – amalgamation of state based databases) • Proof of identity – Individuals – Attorney-General’s Department – Business (AUSKey) – Tax office Data integrity is critical…continued
  • 10. •PPSR a different model - as facilitator - maintain register in accordance with legislation - as enabler - work with others to add value and deliver Australian Financial Security Authority
  • 11. • Majority of transactions made by business to government (B2G) providers – growing and competitive market • Sustained growth in use of PPSR • Stability of the PPSR Achieving the right balance
  • 12. • We’re clear about our role • We have a close working relationship with a range of stakeholders • We focus on maintaining a competitive environment • We encourage innovation • We effectively manage compliance Achieving our outcomes
  • 13. Effective stakeholder engagement • Essential to success of the PPSR • Regular, meaningful engagement > identifies service gaps > co-design solutions • Regular dialogue with cross-section of stakeholders > builds understanding of competing demands > builds commitment to longer-term benefits Influencing corporate social responsibility
  • 14. Encourage competition • Builds capacity of private sector • Value-add products genuinely competitive with direct access • Builds market – including harder to reach sectors • Technical information freely provided > helps potential clients to cost and assess risks • Limit administrative burden > ease of start up & investment Influencing corporate social responsibility
  • 15. Drive innovation • Competitive environment drives innovation • Co-design technical enhancements > delivers tangible functional improvements and removes technical barriers > creates an environment conducive to innovation • Investment by AFSA > improved register stability • Co-design > allows AFSA to keep pace with market expectations and ensures innovation that helps build equity of access Influencing corporate social responsibility
  • 16. Monitor compliance • Our terms and conditions ensure register operates well • Private sector providers have a vested interest in the register operating well • Private sector providers therefore have vested interest in complying with terms and conditions • Support self-reporting of non-compliance and assist efforts to comply Influencing corporate social responsibility
  • 17. Government agencies can influence corporate social responsibility • Be clear about the outcomes you need • Be clear about the role of government • Commit to genuine engagement with stakeholders • Encourage competition and innovation • Build confidence in your providers to self report non- compliance – and support their efforts to comply Conclusion
  • 18. Questions / Comments

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