Speaking notes for address by Greg Medcraft, Chairman, Australian Securities and Investments Commission to the FINSIA Financial Services Conference 2011, Ivy Ballroom, Sydney, 25 October 2011.
Thank you for having me along to address the FINSIA conference this year.
FINSIA is an impressive institution and has had a major presence in the Australian financial services sector for many years.
FINSIA's 125th anniversary celebrations this year recognise the longstanding role of FINSIA and its predecessor bodies – the Australasian Institute of Banking and Finance, and the Securities Institute of Australia – in raising industry standards and supporting the professionalism of those working in the financial services industry.
On a personal note, when I was running the American Securitisation Forum and they were looking for a professional training framework to emulate, the model they looked towards was FINSIA's.
I know that to mark this milestone, the FINSIA Pinnacle Awards were launched to identify and celebrate the achievements of Australasia‘s most outstanding financial services professionals. I understand former ASIC Chairman, Tony D'Aloisio, is up for an award so we‘ll be watching with interest. The awards will be conferred at this evening‘s Gala Dinner – so I won't pre-empt that now.
Ladies and gentlemen, I would first like to outline ASIC‘s priorities for the next five years. I will then explain how ASIC‘s involvement in creating a professional financial advice industry fits in to our strategic framework.