Which group coordinates Australia's main financial regulatory agencies?

The Council of Financial Regulators is the correct choice as it serves as a coordinating body for the major financial regulatory agencies in Australia. This council is crucial because it brings together different regulators, such as the Australian Securities and Investments Commission (ASIC), the Australian Prudential Regulation Authority (APRA), the Reserve Bank of Australia (RBA), and the Treasury.

The role of the Council is to enhance the overall stability of the financial system, improve communication between the regulatory bodies, and ensure a cohesive approach to financial regulation and oversight. By facilitating collaboration and discussion among its members, the Council of Financial Regulators strengthens the regulatory framework and addresses systemic risks that could impact the Australian economy.

In contrast, while ASIC, APRA, and the RBA are important components of Australia's financial regulatory structure, they each focus on specific areas: ASIC primarily oversees corporate and financial services, APRA regulates banks and insurance companies, and the RBA manages monetary policy and financial stability. Their roles are complementary, but it is the Council of Financial Regulators that coordinates their efforts to maintain an effective and robust financial system.