In my remarks this morning, I’ve been asked to answer the question: is self-regulation dead? To cut to the chase, my answer is that I certainly hope not. If self-regulation is failing, we need to revive it, not write it off. Good self-regulation – in the broadest sense of the term, capturing self-discipline and restraint – is essential to providing the community with a well-regulated, efficient and value-adding financial services sector. It is not optional.
Read the full speech by Wayne Byres here.