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Regulation of Financial Markets There have been significant changes in the regulation of financial markets in Australia. Financial markets consist of the buying and selling of financial securities. The key markets within the financial sector are the primary market, which is concerned with the first issue of the securities and the secondary market, which is concerned with the buying and selling of the securities after the initial issue. The key changes in the regulation of the financial market occurred in 1983. Prior to 1983, financial markets were heavily regulated, most importantly the total regulation of the Banking System by the Reserve Bank of Australia, which set products and prices (interest rates).
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