Financial innovation: ASIC’s role and how it affects you
A speech by Greg Tanzer, Commissioner, Australian Securities and Investments Commission to Norton Rose Fulbright’s Financial Innovation Symposium, 5 May 2015
The topic of this year’s Symposium, financial innovation, is indeed a highly relevant one. Like the world around us, our financial services and markets are being transformed by innovation. This presents both opportunities and risks for industry, and for regulators.
For industry to successfully realise any opportunity in a sustained way – and this especially applies to opportunities from financial innovation – they must not lose sight of the foundation of their success.
It is here where industry and regulators have a common interest – in seeing innovation that fosters investor and financial consumer trust and confidence.