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Is self-regulation dead?

Thursday 5 September, 2019
by Wayne Byres, APRA Chairman
8 August 2019

Wayne Byres, Chairman – Crossroads: The 2019 Banking and Financial Services Oath Conference, Sydney

Good morning. I am very pleased to be part of this event, and to lend my support to the Banking and Financial Services Oath and to Finsia, both of whom are playing important and timely roles highlighting the importance of trust and professionalism for a successful financial sector.

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.

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