The Bank may make regulations prescribing business standards that regulated financial service providers must comply with. The standards aim to ensure providers act in the best interests of customers and of the integrity of the market, act honestly, fairly and professionally, and with due skill, care and diligence. In particular, standards require that providers do not mislead customers about the advantages or disadvantages of services; maintain adequate financial resources; control and manage affairs and systems (including risk management, internal controls and governance); prevent or manage conflicts of interest; protect customer assets; cooperate promptly with the Bank and comparable foreign authorities; and disclose to the Bank matters it would reasonably expect notice of.

The Bank may prescribe the systems, controls, processes, policies and procedures required to meet the standards. Before making regulations the Bank shall consult the Minister and may consult others, must have regard to effectiveness and proportionality by reference to nature, scale and complexity, and must carry out and publish a cost–benefit assessment that includes impacts on customers and fair competition by the date regulations are made. Regulations may apply generally or to specified classes and may contain different provisions by class; the Bank must supply the Minister with a copy and sections 61C and 61D of the Act of 1942 apply.