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Australia, UK partner to procure well-regulated financial markets
|Following its inaugural meeting in September 2025, the second UK-Australia Joint Financial Regulatory Forum took place this week, with Australia remaining vocal about placing greater emphasis on governance and asset valuation of private markets.
Count takes 30% stake in Brisbane advice firm
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Audit quality continues to fall short: ASIC
|The corporate regulator has called for improvements in audit quality and financial reporting after its latest surveillance found companies, including superannuation funds, are still not getting the fundamentals right.
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Jacqueline Fernley
CHIEF EXECUTIVE OFFICER
ARC POINT OCIO PTY LTD
ARC POINT OCIO PTY LTD
Jacqueline Fernley is a self-confessed nerd, a market animal and as of this year, her own boss. Riddhima Talwani writes.
The Financial Standard podcast Tune in each week as we discuss the latest developments in Australia's wealth management industry. |  |
I agree that lifting education standards of individuals is also not the sole solution to all the issues facing the industry at present. The companies and their ongoing compliance regimes (or lack of) also let down consumers.
The article also talks about a quality review program which really should be in place in order to adhere to their AFSL obligations. Maybe a national standard with greater guidance and adherance should be considered, ie AFSL lodging annual reports of their ongoing quality review regimes?
This could help demonstrate accountability by the AFSL's, how often they review their advisers, and eloborate on corrective action whereby they have made an adviser write to a client about a breach that was identified.
All the industry bodies, associations, investigations etc continue to ignore the main reason for all the shonky behaviour: senior management.
Now we have the ex-CBA boss running the investigation into financial services - talk about putting Dracula in charge of the blood bank! As if he will come down hard on his buddies: what a slap in the face of consumers.
Yak yak yak about "training" and "education" - they are important but have very little to do with what these groups do to their customers.
Shame on the government and the pathetic industry bodies.