Changing perimeter of securities regulation: The perspective from Australia
A speech by Peter Kell, Deputy Chairman, Australian Securities and Investments Commission at the Berle V Conference, Capital Markets, the Corporation and the Asian Century: Governance, Accountability and the Future of Corporate Law, Sydney, 13 May 2013.
When I think about what’s ahead for securities regulation, I see three things:
These present a major challenge to securities regulators globally. Securities regulators have common strategic objectives of:
ensuring financial markets are fair, orderly and transparent
ensuring investors are confident and informed when they participate in the market
mitigating systemic risk in the financial system.
These strategic objectives are critical in having an efficient financial system where business has access to cost-effective capital in order to fund economic growth.