Australian Securities and Investments Commission (ASIC): Past, Present and Future

Event status:

Practitioner Plenary Panel

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Thursday 08 April 2021 02:30 pm until Thursday 08 April 2021 04:00 pm (Add to calendar)
Professor Balasingham Balachandran
Presented by:
11th Financial Markets and Corporate Governance Conference and PhD symposium (FMCG 2021)
Type of Event:
Conference; Public Lecture; Seminar/Workshop/Training

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    Topic: "Australian Securities and Investments Commission (ASIC): Past, Present and Future"

    How might the Hayne Royal Commission suggestion to administer the law differently be implemented? A question Brexit has made relevant for the UK. Should a dedicated consumer regulator be created or should the competition regulator take on this role? Should a regulator of regulators be created or the Ralph Nader initiative of forming firm specific stakeholders associations appointing expert advocates/co-regulators? According to system scientists this bottom-up approach is the only way regulation or control of complexity can become reliable. It creates reliable risk management for directors while avoiding regulators being captured by private interests. It removes the cost of public or private ombudspersons. Unlike firm funded embedded regulators, stakeholder advocates also become management mentors to enhance both business competitiveness and stakeholder wellbeing. Directors of financial service firms and their regulators would become directly accountable to citizen stakeholders to enrich democracy.
    Professor Allan Fels AO, Professorial Fellow, University of Melbourne; Foundation Chair of the Australian Competition and Consumer Commission (ACCC 1995-2003); and, Foundation Dean, ANZSOG
    Panel Members
    Professor Pamela Hanrahan, Professor of Commercial Law and Regulation, UNSW Business School; Adviser to the Hayne Royal Commission; and, Queensland Regional Commissioner of ASIC in 2013-15
    Ms Belinda Gibson, Commissioner/Deputy Chair, ASIC 2007-2013; and, Independent Company Director
    Dr Shann Turnbull, Founding Life Fellow, Australian Institute of Company Directors (AICD) & 1975 founder of its education course; and, Principal, International Institute for Self-governance
    Senator Andrew Bragg, Chair of Australian Parliamentary Select Committee on Financial Technology and Regulatory Technology (representing the government)
    Mr Stephen Jones MP, Shadow Minister for Financial Services (representing Labor Party)



21st Oct 2021 10:09pm

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