Federal Treasury  has called for the Financial System Inquiry to consider "the scope for promoting market solutions by redesigning disclosure requirements for the digital age." In its submission to the inquiry, Treasury imagines innovations that would "enable the growth of 'information intermediaries' that can apply expertise in presenting information in an effective and digestible way.""This goes beyond promoting standardised format for digitised information, and includes information technology that can aggregate quotes for a product or service in circumstances where consumers must first supply information to service providers," Treasury said. Some comparison services already deliver some of these services, though Treasury may envisage business models where the algorithms address the "complexity and challenges in obtaining and analysing information."By way of context, Treasury said that "events since the Wallis Inquiry - as the widespread confusion around the definition of flood cover in insurance policies and the collapse of Storm Financial demonstrate - [show] that the main regulatory tool to address these issues - mandated disclosure - does not provide sufficiently meaningful and digestible information to consumers constrained by time or ability."Amongst the deluge of 200 contributions to the work of the inquiry, Treasury's submission is a rarity that takes time to contemplate a policy agenda for the panel.        Rethinking recent steps by the Australian Securities and Investments Commission to devise a scheme of prudential regulation for non-bank deposit-takers is one policy item promoted by Treasury for review."Achieving clear demarcations between financial promises of varying intensity and between regulators, namely ASIC and the Australian Prudential Regulation Authority."The recent proposals for ASIC to take on quasi-prudential functions following the collapse of Banksia illustrate the difficulties in maintaining clear demarcations in the face of changing products and market structures."