Coronavirus (COVID-19) updates from the Australian Government

18 January 2013 meeting

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SuperStream Advisory Council meeting
18 January 2013 

Key messages

Regulatory Environment

  • There will be a transition period for SuperStream standards, but the interests of members and efficiency of the system means that dual processes cannot persist beyond the appropriate transition period.  The SSAC will need to continue to monitor this during the transition period.
  • SSAC encouraged the Australian Taxation Office (ATO) to publish and update regularly 'Frequently Asked Questions' on the implementation of data standards as a mechanism to disseminate information.  This could also address any misconceptions within the industry.  It encourages industry to look there first when seeking clarity on the operation of the data standards.
  • SSAC noted advice that it was expected that the forthcoming RSA regulations would mirror the SIS regulations and associated documents.
  • SSAC noted advice on how the robustness of the regulatory framework to changes in standards relied upon by SuperStream (for example, BPAY and EBMS).  The regulatory framework was such that the industry could plan and manage any changes with a timetable appropriate to the industry.  This would occur in consultation with the ATO.

Governance

  • SSAC will continue to liaise with industry over the implementation of governance arrangements for the gateway network.  SSAC notes that this is of primary importance to the industry.  The SSAC noted that there were ongoing discussions amongst the various industry bodies but that no concrete proposals had been developed.  Whilst an industry solution is preferable, alternatives may be needed in the short‑term.
  • The SSAC formally set up sub-groups on governance, technical architecture and industry readiness to consult with the industry on specific issues and to assist the SSAC in its advice to Government.

Implementation

  • SSAC noted ATO plans to encourage funds to cluster in smaller groups (10-15) for testing purposes.  It also noted that the ATO was developing various tools that would assist the implementation for industry and these should be publicised as soon as possible.
  • SSAC noted that trustees were starting to consider their gateway provider.  Prudent trustees should consider the outsourcing of networking services as a material business process.  It would be prudent for trustees to consider appropriate review clauses should their proposed gateway provider ultimately not meet the standards for interoperability as they develop.