Access by foreign banks and offshore information processing firms to the Australian and New Zealand markets may be widened if an international Trade in Services Agreement (TISA) proceeds as presently drafted. Late last week WikiLeaks released analysis of the TISA draft by Jane Kelsey from the Faculty of Law at the University of Auckland in which she says governments will be expected:"- to lock in and extend their current levels of financial deregulation and liberalisation;- to lose the right to require data to be held onshore: and- to risk a legal challenge if they adopt measures to prevent or respond to another crisis."APRA's rules on data handling and privacy and outsourcing could thus be reviewed if the agreement comes into force.An interpretation published by Fairfax Media on Friday that TISA may compel Australia's government to water down its "four pillars" policy - inhibiting foreign bank takeovers - seems to be a stretched reading of the agreement.Suggestions that this might be the case sent the Government scurrying to defend the status quo."We are not changing the four pillars policy," the Treasurer, Joe Hockey, told The Weekend Australian."It has served us well, it has provided stability and a reasonable level of competition."He said no trade agreement would take away the government's right to block takeover bids for the banks or Parliament's right to regulate financial services. "There will be no international trade agreements that undermine our capacity to properly regulate our financial services industry," Hockey told The Australian.Trade Minister Andrew Robb said the leaked documents were "the latest instalment of the reprehensible campaign being waged by anti-trade groups.""Australia has a most enviable services sector which includes financial services and through our trade negotiations we are looking to open up new opportunities and advance their interests particularly in the growing markets of Asia," he said in a statement."We are certainly not going to enter into any agreement that undermines our world class domestic banking and financial services sector. Why would we?"AFP reported on Robb's remarks.