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"How can we accelerate the rebuilding of trustworthiness and confidence in financial services?"
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When and where is the symposium?
Registration is at 9AM for a 9:30AM start; ending at 4PM on Tuesday 15th October at:
Dimensional Fund Advisors,
43/1 Macquarie Place,
If you already know you want to attend
Click on the button below to secure your place and note that there are 3 ticket options: Standard, Discounted and Complimentary; the notes you get to will provide all the information you need about the ticket options but feel free to get in touch if you have any enquiries about the ticket options or any other matter, by sending an Email to: firstname.lastname@example.org
What can you expect at the symposium?
You can expect to be amongst progressively minded and collaboratively minded people who are keen to explore how best to reform financial services so that consumers get a better deal; and trust & confidence in the system can be restored.
You will learn about the major international effort that is now underway - in particular, you will get to understand how people around the world are working together to create a new “Framework for Finance Reform” at the heart of which are the “The 12 Finance Development Goals.”
The 12 Finance Development Goals are a similar concept to the United Nations' Sustainable Development Goals but instead of dealing with issues such as hunger, climate change, access to clean water and gender equality; they deal with well-known financial services problem areas such as conflicts of interest, the “profits before principles” mindset, the need for better governance and the desperate need for greater transparency.
The development of the Finance Development Goals (FDGs) is bringing together a wide cross-section of stakeholders, right around the world, including politicians, policymakers, financial regulators, financial trade bodies and professional associations; plus, many commercial organisations, leading academics and think tanks etc.
There will be presentations from individuals with interesting insights and experiences to share; plus, a panel session and ample scope for discussion and debate so that all attendees will be able to share their views and ideas.
You can expect the meeting to function as a highly interactive and highly engaging workshop, where everybody gets the opportunity to participate as much as they would like to.
We know that using that approach we will be able to harness the camaraderie, collegiality and willingness to collaborate that the project is already cultivating, right around the world.
In essence, this is a rare and perhaps even unique opportunity to become “part of the solution” so will be particularly appealing to people that want to help make a difference.
Here's the programme, so far*
Registration, refreshments and networking
Welcome to the symposium
Nigel Stewart, Executive Director, Dimensional Fund Advisors, Australia
Andy Agathangelou, Founder, Transparency Task Force; Governor at the UK’s Pensions Policy Institute; Chair, The Interoperability Steering Group
Nigel Stewart, Executive Director, Dimensional Fund Advisors, Australia
Refreshments and further networking
Dr Shann Turnbull, Principal, International Institute for Self-Governance; Principal, Management and Investment Services; Founder & Former President, Australian Employee Ownership Association; Ambassador of the Transparency Task Force
Paul Resnik, Convenor of the Financial Stability Forum; Founder, Finametrica; Executive Director, PlanPlus Global
Professor Justin O’Brien, Director, The Trust Project
Professor Thomas Clarke, Director for Corporate Governance, University of Technology, Sydney; Fellow, The Royal Society of Arts; former visiting Professor at the University of Paris, Dauphine; and ESC Lille, France; University of Geneva, Switzerland; FGV Business School, Sao Paulo, Brazil; UAM Business School, Mexico City; and a Nuffield Foundation Visiting Research Fellowship at the University of Warwick.
Presentation of the Transparency Trophy; a special trophy is awarded to a champion of transparency and finance reform at each of our symposia around the world
Lunch and further networking; followed by "Team Photo"
"The book that is much more than just a book"
Denis Kilroy, Managing Director, KBA Consultancy
Sally Loane, Chief Executive Officer, The Financial Services Council; former Broadcaster, Australian Broadcasting Corporation
The Power Panel, where selected participants will have the opportunity to share their thoughts on our primary question:
"How can we accelerate the rebuilding of trust and confidence in financial services?"
Our Power Panellists are:
- Cris Parker, Director, the Banking & Finance Oath; & Leader, The Ethics Alliance at The Ethics Centre
- Dr Anna Young-Ferris, Lecturer, University of Sydney; Technical Expert, One Stone
- Ian Fryer, Head of Research, Chant West; Ambassador of the Transparency Task Force
- Darren McShane, Specialist Financial Regulation Consultant; former senior executive at ASIC, IMRO, MPFSA, IOPS; Ambassador of the Transparency Task Force
The Open Debate; where all attendees, panellists and speakers will have the opportunity to freely discuss the key issues raised through the course of the symposium.
Andy Agathangelou, Founder, Transparency Task Force; Governor at the UK’s Pensions Policy Institute; Chair, The Interoperability Steering Group to cover off key conclusions and suggested next steps
Refreshments and further networking
*The programme will continuously evolve so is subject to change
For more detail about the project...
Click on the button below to get to a web page dedicated to providing a full and detailed explanation of the project:
Places are limited; to secure yours:
Click on the button below to secure your place and note that there are 3 ticket options: Standard, Discounted and Complimentary.
Here's an explanation of our very flexible pricing policy:
We are a not-for-profit and we desperately need funds to cover our costs and keep our many finance reform initiatives alive - we’re just about surviving.
Therefore, unless you genuinely cannot afford it, please select the Standard Ticket Option (435 AUD).
However, if that is genuinely beyond your budget, select the Discounted Ticket Option and choose the amount you wish to pay; please be as generous as you can afford to be.
Furthermore, if you genuinely need to apply for a Complimentary Ticket Option, please Email email@example.com but note any complimentary places must be agreed in advance and are by arrangement only.
If any of the above requires clarification, please don’t hesitate to get in touch.
You can pay through PayPal or invoice.
Further information about the TTF
You can click on the button below to read about the 130+ Transparency Task Force Ambassadors. The list includes world class academics and highly respected thought leaders from right around the world.
You can click on the button below to read about the Transparency Task Force Advisory Board, which is Chaired by the former Chair of the Financial Conduct Authority's Financial Services Consumer Panel.
Bios of key participants
provided thus far*
Andy Agathangelou FRSA,
Transparency Task Force
Andy will be Chairing the Symposium. His overall objective is to galvanise support for the idea that greater transparency in financial services can drive positive, transformational change for the benefit of all.
Andy formed the Transparency Task Force following a meeting he led at Senate House, University of London on 6th May 2015. The meeting was the about the trust deficit that is impacting financial services and how harnessing the transformational power of transparency can drive the change that is needed.
That meeting set off a chain of events that led directly to the creation of the collaborative, campaigning community that is the Transparency Task Force.
Our activity is is built on the idea that 'Sunlight is the Best Disinfectant' and our guiding "North Star" question is "what is best for the consumer?"
The mission of the Transparency Task Force is
"To help protect consumers' financial interests by reforming the financial services industry around the world, through harnessing the transformational power of transprency"
We have many Special Interest Groups made up of subject-matter experts working collaboratively:
We are building a global network of Ambassadors:
We are working hard to rebuild trust and confidence in financial services through creating a Framework for Finance Reform built on the Finance Development Goals:
We have a highly credible Advisory Board:
Andy is also:
Global Pension and Retirement Leader,
Ernst & Young
Josef leads EYs Global Pension and Retirement business working across EY’s Financial Services and Government and Public Sector
He has an accomplished record of designing and delivering exceptional stakeholder and commercial outcomes in complex, political and uncertain environments. Josef is skilled in engaging, connecting and galvanizing diverse stakeholders on board, senior executive andoperational levels behind evolutionary or transformational strategies and initiatives. His has an adaptive leadership style working across 30 countries with leading private and public sector clients as well as governments and regulators.
Josef brings 25+ years of expertise and insights across wealth and asset management, retirement, life insurance and retail banking across 4 continents in industry and advisory roles. He is skilled
in board, strategy, risk and governance, distribution, investments, administration and digital from working with leading financial services organisations locally and globally. As a leader he enjoys
seeing colleagues grow and evolve personally
As previous COO Retirement of a pension fund master trust, pension trustee director and working with boards in several countries Josef learned the importance of purpose, good governance, a members’ best interest culture as well as rigorous risk and conflict management and fit for purpose oversight to deliver predictable outcomes. Trust and confidence are key. And conflicts of interest are omnipresent. He thrives navigating transformational change from running a business strategy consultancy and leading market entry, growth and
complex implementation programs for many leading pension, retirement and social security organisations, life insurers, asset managers and wealth management businesses globally. But, his industry and advisory roles taught him that only successful implementation makes a successful strategy. And, behavioural change is tough.
Josef was involved in supporting informed decisions and policy reform in many countries working with political, policy, regulatory and industry leaders. It taught him two key lessons: pension, retirement and financial well-being policy reforms require tough decisions and behavioural change, and they require translating between different stakeholders to convert industry jargon into stakeholder understanding and empathy. Successfully building, evolving and governing growing direct investment portfolios across different regions, countries, asset categories and themes became his passion again as it maximises retirement assets as ultimate member outcome. Josef is a frequent speaker and author on pension, retirement, governance and risk management issues on many global and local forums to help build a better retirement world for all stakeholders.
Dr Shann Turnbull,
International Institute of
Dr Shann Turnbull is the Principal of the International Institute of Self-governance based in Sydney, Australia. His bibliography is posted https://independent.academia.edu/ShannTurnbull/CurriculumVitae
Shann Turnbull obtained an MBA from Harvard in 1963 and published The Management of Capital in 1965 to promote modern financial analysis in Australia. He became a part time teacher at Australia’s first business schools while being a serial entrepreneur founding many enterprises with three becoming traded on the Australian stock exchange. From 1967 to 1974 he was in charge of research for a private equity group that acquired and re-organized a eight publicly traded companies. In this role and as a company promoter he gained experience as a controlling shareholder, company director, chairman and/or CEO of public companies. In 1970 he also became a founding joint CEO/owner of a public mutual fund management company.
In 1971 he advocated education for company directors and in1973 his first academic paper “Time Limited Corporations” was published in ABACUS: A journal of accounting, finance and business
Shann pioneered research and teaching of corporate governance before this term came into vogue as a co-author in 1975 of the first course in the world to provide an educational qualification for company directors. In 1975 he also published his first book on Democratising the Wealth of Nations. The novel ideas in his book led to consulting assignments for multi-national corporations, United Nations, World Bank, and governments, including in 1991 the Peoples Republic of China and Czechoslovakia. Shann has been a prolific writer on reforming the theories and practices of capitalism based on biomimicry.
In 2001 he obtained a PhD from Macquarie University with a thesis that showed how the science of control and communication in the animal and the machine described as cybernetics could be extended to organizations to create a science of governance using bytes as the unit of analysis. His thesis built upon his education as an electrical engineer in Tasmania in 1957 and a BSc from the University of Melbourne in 1960. His PhD thesis, many journal articles, book chapters and books are posted at http://ssrn.com/author=26239. Two articles were selected for re-publishing in 2000 with the seminal contributions of 24 leading scholars in the Corporate Governance volume of The History of Management Thought.
Shann applied the methodology developed in his dissertation to evaluate and rate the governance integrity of the largest 100 organizations in Australia by turnover for three years from 2001. From 2001 to 2006 he was the Australian Advisor to the London based Hermes Focus Asset Management. In 2002 he was commissioned by the London based New Economics Foundation to write a public policy booklet on A New Way to Govern: Organizations and society after Enron. Based on his PhD research he designed a MBA course that he taught during 2003/4 at Macquarie University on evaluating and designing the governance architecture of organizations in the government, non-profit and private sectors. He taught risk analysis to graduate students at the University of NSW in 2007 and at Sydney University in 2008. In 2011 Shann founded the Green Money Working Group in the UK to provide liquidity for Small and Medium sized enterprises in the event of another financial crisis. Group members represent 25% of the UK population as described at www.gmwg.org.
Dr Anna-Young Ferris,
Discipine of Accounting,
The University of Sydney Business School
Dr. Anna Young-Ferris is an established academic who works to raise consciousness in business and education, through forums such as responsible investment, corporate sustainability, integrated reporting and responsible management education. She is a sustainability and carbon accounting specialist bringing more than 15 years of academic (research and lecturing) and corporate experience.
After becoming disillusioned with the state of sustainability reporting in the corporate sector Anna joined academia in 2010 to pursue her research in the field with a focus on institutional investors and a more conscious capitalism. Her award-winning PhD study examined the integration of environmental, social and corporate governance (ESG) accounting information in mainstream investment decisions and she continues to focus and publish her research in the field of institutional investment and business sustainability. She has presented her research work at numerous international settings including Harvard University, the London School of Economics and HEC Paris.
Anna lectures in the areas of conscious capitalism; corporate sustainability accounting and integrated reporting; carbon accounting; responsible investment; and management accounting. She is an academic advisor for the UN Principles for Responsible Management Education; the leader of the UN-supported Principles for Responsible Investment Australasia Academic Network; a founding member of the Australian Business Leaders Reporting Forum for Integrated Reporting; a technical consultant for One Stone Advisors and has convened a number of research forums.
Previously, she was a climate change and sustainability management consultant at Ernst & Young. Anna graduated with Honours in Economics, her thesis examined Triple Bottom Line accounting.
Head of Research
Ian is an actuary who has worked in the superannuation industry for over 20 years in a range of actuarial, administration, consulting and research roles. For the last 14 years he has been Head of Research at Chant West, a leading superannuation consultancy and research firm.
He is responsible for managing a team that provides product research used by a large number of superannuation funds, financial advisers and consumers to compare superannuation and pension products.
His particular areas of interest are member services, insurance and consistent disclosure of fees and costs. Ian led the Industry Working Group on RG97 in 2017.
Chief Executive Officer,
Financial Services Council
Sally Loane joined the Financial Services Council as Chief Executive Officer in
Prior to this Sally had a decade in the corporate sector, working at Coca-Cola
Amatil as a senior executive. Her first career was in the media, where she spent 25
years as a broadcaster and journalist across radio, television and print. Sally is also a published author.
Sally is a Director of Venues NSW, Destination NSW, the Avner Pancreatic Cancer Research Foundation and Committee for Sydney. Sally is also a Governor of the Cerebral Palsy Research Foundation, Ambassador for Business Events Sydney and a member of Chief Executive Women.
Sally was the first female director of Waratahs Rugby and served on the board for seven years. She was a Director of SCEGGS Darlinghurst for 12 years and chaired the Salvation Army’s Sydney East Doorknock Appeal from 2008-2011.
Professor Justin O'Brien,
Professor Justin O’Brien is a globally acknowledged expert in the dynamics of regulatory politics. He has written extensively on enforcement priorities and their comparative efficacy, with particular recent reference to the manipulation of benchmarks and the FX market in London, Singapore, the United States, within the European Union Competition Directorate and here in Australia.
He is exceptionally well-connected globally and his experience in evaluating government policy in relation to capital markets invaluable for the planned audience. He has penned a series of essays for the Australian Financial Review on the Royal Commission and recently published Trust, Accountability and Purpose: The Regulation of Corporate Governance (Cambridge University Press, 2019) and was a co-editor on The Oxford Handbook of the Corporation (Oxford University Press, 2019). A former investigative journalist with a range of broadcasters, including the BBC, he is a skilled communicator. His essays for the AFR can be found here:
Adam Creighton is an award-winning journalist with a special interest in tax and financial policy. He was a Journalist in Residence at the University of Chicago’s Booth School of Business in 2019.
He has written for The Economist and The Wall Street Journal from London and Washington DC, and authored book chapters on superannuation for Oxford University Press. He started his career at the Reserve Bank of Australia and the Australian Prudential Regulation Authority.
Adam holds a Bachelor of Economics with First Class Honours from the University of New South Wales, and Master of Philosophy in Economics from Balliol College, Oxford, where he was a Commonwealth Scholar.
Dimensional Fund Advisors
A director of DFA Australia Limited since 1994, Nigel A.D. Stewart is a well-known advisor in Australia and a central figure in its investment management sector. A frequent speaker at conferences in Australia and abroad, Nigel has a key role in providing 'best practice' consulting advice to advisors who embrace a scientific, evidence based and clear process-driven approach to wealth management. He also has a pivotal role in developing Dimensional's regional business.
Nigel's contribution to Dimensional is grounded in his extensive experience in the advice and investment management sectors. He is also Chairman of the separate firm Stewart Partners. He is a fellow of the Financial Services Institute of Australasia (FINSIA), a foundation member and fellow of the Financial Planning Association of Australia, and a fellow of the Australian Institute of Company Directors. Nigel has a deep interest in sustainability and philanthropy. He provides guidance to several foundations and is on the board of Pain Management Research Institute of Australia.
Nigel joined Bain & Company (now Deutsche Bank) in 1977 as an advisor, and in 1983 he founded Nigel Stewart and Associates Pty Limited, which merged with Potter Warburg in 1995. He became executive chairman of Potter Warburg Pty Limited (now UBS Wealth Management) in 1996. In 1998 he founded Stewart Partners. Nigel is the recipient of a graduate diploma in applied finance and investment from FINSIA, an AICD diploma from the University of New England and he is an Accredited Investment Fiduciary® (AIF®).
The Great Divide
You can read the speech by Andrew G. Haldane, FAcSS (the Bank of England's Chief Economist and Executive Director of Monetary Analysis and Statistics) that he gave on 18th May 2016 at the New City Agenda Annual dinner.
The speech is entitled The Great Divide and it is a first class explanation of why the trust deficit really matters and why it makes sense to try to do something about it.
Please click on the green button to access it; if you're not convinced of its relevance to our initiative, here's part of it:
..."The most important and compelling message the Bank received at the Open Forum came in the first session. The Bank had conducted some polling of perceptions of the financial sector – for example, by asking people what one word best described the future of financial markets. Among the Bank’s usual contacts, including those in the financial sector, the most used word was “regulated”. Many of us will have heard that message from financial insiders concerned about the perils of over-zealous regulators.
For me, the more revealing responses came from the general public, from the customers, rather than the producers, of financial services. The word most used by them when describing financial markets was a rather different one: it was “corrupt”. Not far behind were words like “manipulated”, “self-serving”, “destructive” and “greedy”. I am sure many of you have heard those messages too. They are certainly ones I have encountered frequently on my visits around the country."...
Please click the green button below to access the full speech. If you need to read another piece first, here it is:
..."At least until recently many economists like me, when faced with this evidence, might have shrugged our shoulders. Social capital had no real role in our models of economic growth, unlike physical capital and human capital. Trust did not butter our parsnips and nor did it enter our production functions.
Recently, however, that orthodoxy has changed and the importance of trust has become clearer.
Evidence has emerged, both micro and macro, to suggest trust may play a crucial role in value creation. At the micro level, there is now ample evidence the degree of trust or social capital within a company contributes positively to its value creation capacity.
At the macro level, there is now a strong body of evidence, looking across a large range of countries and over long periods of time, that high levels of trust and co-operation are associated with higher economic growth.
Put differently, a lack of trust jeopardises one of finance’s key societal functions – higher growth.
Those social capital effects appear to be particularly potent when it comes to financial decisions. Evidence suggests that a lack of trust leads people to retreat from the stock market and banks and to move towards cash holdings and informal sources of credit, such as payday lenders and loan sharks. That jeopardises the second key benefit of finance to society – improved risk-sharing by households and companies.
So a lack of trust in finance potentially hobbles both economic growth and financial stability.
That lack of trust is the mirror-image of the perception gap between the financial sector and wider society, the Great Divide.
The Great Divide matters because it signals a pronounced and protracted erosion of social capital. It puts finance on notice for losing its social licence. And, unaddressed, that jeopardises future wealth and well-being."...
Please click on the green button to access the full speech. If you're not yet convinced you should, here's a final snippet:
..." As a survey in 2013 of financial professionals found, rather remarkably, that over half believed their competitors engaged in illegal or unethical behaviour. A smaller, but still high, fraction of 24% believed their own company engaged in such practices. Similar percentages believed their industry did not fulfil its fiduciary function of putting clients’ interests first.
The significance of these findings is not the precise percentages, as striking as these are.
More fundamentally, it is because of what they reveal about finance’s perception of itself, the mirror it holds to the social identity of finance."...
Click onto the button below to access the full speech; you'll be glad you did, it's profoundly thought-provoking for anybody interested in the future of the financial services industry:
If you are not already on the right page and want to read about our major international project to help rebuild trustworthiness and confidence in financial services, click on the orange button below: