ASIC Regulatory Update: Expectations in the current environment? Our perspective on reform and regulatory developments
Opening comments by Peter Kell, Deputy Chair,
Australian Securities and Investments Commission
Actuaries Institute Financial Services Forum, Hilton Sydney
(Sydney, Australia), 22 May 2018
Thank you for the opportunity to speak today.
I will talk to you about four broad topics:
- the trust deficit in financial services and what that means for standards of conduct in industry
- ASIC’s focus on life insurance including ASIC’s work on financial advice, direct insurance and insurance through super
- opportunities for financial services firms to strengthen codes and to take cross-industry action to restore consumer trust and confidence
- regulatory reforms with implications for both legal requirements and community expectations.