Regulators at the forefront of change
A presentation by ASIC Commissioner Belinda Gibson to the Company Directors Conference, 11 June 2009
I think today's session can be paraphrased as "Where are the Regulators going to take us now in response to the Global Financial Crisis?", or perhaps – "Where are the Regulators going to make us go?".
I propose to outline ASIC's major post GFC regulatory responses that are most relevant to you as company directors.
I will start with a necessarily (and assuredly) brief review of our economic position, relative to the other major economies. That's a pretty good story. That will lead to a discussion of the fundamental regulatory structure questions that are being faced overseas.
Then I will pick up the specific initiatives we are working on, first with the overseas regulators and then specifically in our own markets. The objective of all ASIC's work is to restore confidence in the markets, so investment and lending can resume.