News from the regulator
A speech by Greg Medcraft, Chairman, Australian Securities and Investments Commission at FOS National Conference 2011, Melbourne Convention and Exhibition Centre, 2 June 2011
This is the first occasion I have had to speak to you since taking on the role of Chairman in May this year. I want to use this opportunity to set out the approach I intend to take as the new Chairman of ASIC.
Business as usual: ASIC's priorities
Under my Chairmanship, ASIC will focus on three key priorities:
Firstly, confident and informed investors and financial consumers. Within this, we have three areas of particular focus, which I will speak more about today:
education is key;
Our second key priority is facilitating fair and efficient financial markets.
And thirdly, ASIC will focus on ensuring efficient registration and licensing of our stakeholders with particular focus on small business.
The important role of FOS
Before going on, I would like to take a moment to pay tribute to the great contribution that FOS makes to protecting investors and financial consumers. Accessible, fair and independent dispute resolution is a hallmark of our financial services and credit regimes. Indeed, our system is the envy of other industry sectors and overseas jurisdictions.
At ASIC, we really value the excellent working relationship we have with FOS, and its expertise in accessible, fair and independent dispute resolution.