7 chapter 2 the australian financial system introduction 1 this provides an overview of main institutions markets and products which constitute it begins with a brief summary how its regulatory framework have evolved is followed by description 3 purpose to introduce industries are subject inquiry full analysis forces shaped existing arrangements including deregulation not provided here required s terms reference will be in final report 4 undergoing rapid change snapshot at any moment time reflects influence both past developments for now acting upon these identified their likely future impact discussed as way introducing major task facing recommending appropriate 8 fifty years