The Board of the Finance Industry Council of Australia (FICA) held talks with the APRA Chairman John Laker and Members, and ASIC Chairman Greg Medcraft and Commissioners on regulatory and other issues within the finance industry. The annual liaison meeting discussed a wide range of matters relevant to the Australian finance industry both at a national and international level. International developments discussed included international progress with implementing the new global Basel capital and liquidity standards and the growing impact of US laws on Australia’s financial system. Domestic issues around high frequency trading, dark pools and the development of the corporate bond market were also covered. The meeting agreed that a good continuing dialogue between the industry and its regulators is important to ensuring balanced outcomes for the industry and the broader community.