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When
Monday 21st October from 6PM to 8PM AEDT/8AM to 10AM BSTWhere
Online symposium via Zoom.Format
There'll be a great line-up of speakers plus ample scope for discussion and debate.Why you should attend
This symposium is all about galvanising support for the positive, progressive and purposeful finance reform that is so desperately needed.
If you believe there is scope for the financial services sector in Australia to serve society better, then this is an event for you.
If you know about problems around market conduct that need fixing then, please do all you can to participate – we want to hear from you.
Furthermore, if you have ideas about what can be done to make a positive difference, then it’s vital you get involved. We know there are many great ideas that can help drive the transformational change that is desperately needed; and we want to shine a big bright light on those ideas.
There are many important questions that need to be discussed and our events are all about creating a forum where people can “tell it as it is” and be heard, not ignored.
Questions such as:
- Do the financial regulators in Australia have sufficient powers to properly govern the sector?
- If they do have sufficient powers, are those powers being used effectively?
- If not, is regulatory capture a factor?
- What can be done to provide better oversight of their work?
- Are vested interests getting in the way of consumers getting good outcomes?
- Are positive innovations being ignored, because they challenge vested interests and the status quo?
- Are the public finding it easy to get the information they need to make well-informed decisions?
- Is the financial services sector in Australia serving society as it should?
- Has the Friedmanite idea of “maximising profit in the short term” spoiled the culture in financial services?
- What are the underlying forces driving poor market conduct?
These are the types of questions and issues that impact the public’s perceptions of the financial services sector, which has been riddled with various types of malpractice, malfeasance, misconduct and mis-selling for many years; not just in Australia but in most parts of the world.
Clearly, the reputational integrity of the sector has been badly damaged. That’s why the Transparency Task Force is initiating and facilitating a global conversation about what’s wrong in financial services; and what needs to be done to fix it.
Here's the programme and timings so far...
—————————————-6:00pm AEDT—————————————-
Welcome to the symposium, introductions and initial exploration of the main issues; by
Andy Agathangelou
Founder, Transparency Task Force; Governor, Pensions Policy Institute; Chair, Secretariat Committee, APPG on Pension Scams; Chair, Secretariat Committee, APPG on Personal Banking and Fairer Financial Services; Chair of the Violation Tracker UK Advisory Board
—————————————-6:15pm AEDT—————————————-
Presentation #1, for 15 minutes + 5 minutes Q&A/Discussion by
Andy Schmulow
Management Consultant, Academic, Advisor to Governments
—————————————-6:35pm AEDT—————————————-
Presentation #2, for 15 minutes + 5 minutes Q&A/Discussion by
Bernard Thomson
National Coordinator, Rethinking Economics Australia
—————————————-6:55pm AEDT—————————————-
The “Just a minute”-round
Inspired by the BBC Radio 4 programme, we have asked a selection of our attendees to spend just a minute sharing their thoughts on what has been covered during the symposium. But unlike the Radio 4 programme our speakers won’t be penalised for hesitation, repetition or deviation!
Speakers:
Stephen Huppert
Director, Stephen Huppert Consulting
Peter Hanlon
Treasurer, Rotary Melbourne
– Speakers to be added –
—————————————-7:00pm AEDT—————————————-
General discussion and debate, 45 minutes
—————————————-7:45pm AEDT—————————————-
Final conclusions; and suggested next steps and close to the formal proceedings.
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*The programme will continuously evolve so is subject to change
Andy Schmulow
Management Consultant, Academic, Advisor to Governments
Dr Andy Schmulow is an Australian legal academic specialising in financial system regulation, specifically Twin Peaks. His focus is on driving good conduct towards consumers and combatting regulatory capture. His advice has been sought by, among others, the Australian Banking Royal Commission, the Australian Law Reform Commission, the South African National Treasury, the Korean insurance association, the New Zealand Law Reform Commission, regulators, central banks and parliamentarians. His advice has been reflected in recommendations made by those bodies and in legislation such as the Financial Regulator Assessment Authority Bill in Australia and the Conduct of Financial Institutions Bill in South Africa. He was tasked by CGAP, a division of the World Bank, to lead in the creation of the world’s first consumer-outcomes indicator framework, to measure consumer financial well-being, first in South Africa, and ultimately for deployment in countries comprising some 1.5 billion consumers. He consults to the financial industry on embracing and embedding fair treatment of consumers, and his research has been published in some of the world’s leading peer-reviewed journals. He has held honorary positions at various universities around the world and is a member of a research cluster at the European Banking Institute. He is admitted to practice in South Africa and Australia.
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Bernard Thomson
National Coordinator, Rethinking Economics Australia
Bernard Thomson is the National Co-ordinator for Rethinking Economics Australia and board member of Economic Reform Australia. He has a BSc in Economics (Phil) from the London school of Economics. and resides in South Australia.
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