A Panel Discussion, opened by former HIH Royal Commissioner the Hon Neville Owen, on the current Financial Services Royal Commission, shared some personal, philosophical and sobering wisdom on the workings and outcomes of Royal Commissions.
In the context of the misconduct found by the Financial Services Royal Commission (FSRC): “Do you think that it is important to find ways of reducing excessive CEO power and remuneration?”
The issue of consumer trust has attracted significant attention in the financial services industry in the last year or two. Here, Estelle Pearson offers her view on why this evolved to be the case and gives a glimpse into how the role of actuaries may potentially need to adapt to help foster trust again in the general insurance industry.
APRA Chairman Wayne Byres' speech "Good banking, by good bankers" is an important call to financial services professionals to heed the lessons of the Royal Commission and improve the professionalism in the industry.
Posted October 15 2014
