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The Standard is a bi-monthly publication to snapshot financial services regulatory issues and the opportunity to contribute to policy development and submissions.

The First Word | The November Standard

by Chris Whitehead F FIN | 14 Nov 2019
Welcome to The Standard, which is published on the eve of our The Regulators lunch.

So it perhaps appropriate that our latest edition is heavy on regulatory content, starting with a warning from APRA of the ongoing need for vigilance against cyber security breaches.

That they will occur is a question of “when” rather than “if” - and in a worst case scenario such an attack could force a firm out of business. So we have been warned.

Still sticking to the digital world, we have an extract from a rejuvenated Australian Journal of Applied Finance highlighting the challenges facing regulators over bitcoin.

PwC - who are the main sponsors of this year’s lunch looking forward to 2020 - have revealed the “stark reality” facing the sector in their Major Banks Analysis which we preview in this edition.

But it doesn’t mean the outlook has to be gloomy.

An undoubted success story in the financial services sector has been that of Judo Bank, whose co-founder spoke to The Standard on the eve of The Regulators lunch. 

His message to them and the boards and CEOs of the banks is that they have an opportunity to restore trust in the industry by adopting a professional approach - and making Chartered Banker compulsory.

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