Regulation is not the only answer: Herbert Smith FreehillsBY LAURA MILLAN | WEDNESDAY, 12 AUG 2015 9:15AMThe word governance only appears nine times in the Wallace report, but 48 times in the Murray report, and many more times than that in the Cooper report. "Everything gets blamed on poor governance," Herbert Smith Freehills and university lecturer Scott Donald said.
Related News |
Editor's Choice
Actuaries Institute proposes new performance test measure
The Actuaries Institute has proposed revising the annual superannuation performance test, so it better aligns trustees' investments with the best financial interests of members.
JANA appoints new director of client development
The new appointment previously worked for APSEC Funds Management.
MSC Certane wins Suncorp mandate
MSC Certane has been appointed as trustee for Suncorp's latest note issue.
Auditors lambast mandatory climate reporting requirements
The peak accounting body said most auditors believe the government's mandatory reporting rules are a "significant miscalculation".
Videos
Brought to you by ![]()
Further Reading
 Sponsored by | Where do advisers invest their time?The stage 3 tax cuts have sparked discussions on bracket creep. Implementing a tax-effective investment strategy is crucial now more than ever. |
 Sponsored by | Quality and Yield. A Powerful combination.With central bank rates seemingly peaked, investors are not awaiting yield increases. We're bucking the trend with investment rates at decadal highs |
 Sponsored by | Why it could be a good time to be a growth contrarianGrowth-style companies are in vogue, but you may need to think outside the box to ensure you don't overpay. |
Products
Expert Feed
Why advisers should consider offering general insurance to HNW clients
I have read many articles over the years about servicing high-net-worth (HNW) clients in the financial services industry.
The role of AI in financial planning: Insights from the US
Ever since ChatGPT burst onto the scene late last year, generative AI has been front and centre of business discussions and financial planning, just like ...
Considerations when nominating a charity for your super upon death
There has been a lot of talk lately about the upcoming great wealth transfer, and you might be wondering where charities fit into all this.
The end of free money
With institutional investors prudently reassessing their risks in current market conditions and seeking safe havens in alternatives such as secured private ...
Featured Profile
Fiona Mann
HEAD OF LISTED EQUITIES AND ESG
BRIGHTER SUPER
BRIGHTER SUPER
Brighter Super head of listed equities and ESG Fiona Mann was shaped by a childhood steeped in military-like discipline and global nomadism. Andrew McKean writes.
Download the app Premium subscribers can access even more content from Financial Standard. |  |
This is why neither Liberal or Labor want a royal commission, because it would show the people of this country how they both took so much money away from the regulator that it simply became a lap dog for the big banks to play with and nobody gets scared of a little fluffy dog that just rolls over to get it's belly scratched.
Both governments continue to blame the advisor when they know full well the majority of those advisors were recruited by the big banks, shown large bonuses and left to their own devices to achieve them.
Apart from ramping up fees for the people doing the right thing nothing will change until a government is prepared to accept the problem and put money where it will make real changes.
Having said that, at the rate their spending on Helicopters and Bieber concerts there will be nothing left to finance any regulators.