Keynote address by James Shipton, Chair, Australian Securities and Investments Commission, Australian Council of Superannuation Investors Annual Conference
(Sydney, Australia), 17 May 2018
Ladies and gentlemen,
I have now been at ASIC for three months at a time of intense scrutiny of the financial services sector and its regulation.
Timing, as they say, is everything. And this is a fundamentally important time for corporate Australia, especially its financial sector.
So, after these three months, I thought it would be useful to talk about my observations of Australia’s financial system and its regulatory structure, the challenges it faces and its future direction.
What I hope to do today is:
- present my perspectives as someone who has worked internationally in the financial services sector and as an overseas regulator and who is, essentially, new to Australia’s financial system.
- Accordingly, I hope, I come to my new role with 'fresh eyes'.
- And without wishing to pre-empt the important work of the Royal Commission, I would also like to make some proposals aimed at addressing the challenges facing our financial services sector.