Australia

Details

  • Service: Topics, Financial Services Regulation
  • Industry: Financial Services, Investment Management
  • Type: Business and industry issue
  • Date: 10/07/2014

Evolving Financial Services Regulation

Evolving Financial Services Regulation
This series discusses the regulatory challenges facing the financial services industry and provides insight on implications and issues to consider.

Evolving Investment Management Regulation: Clarity leads to opportunity 

Make no mistake, the current wave of regulation creates considerable challenges for investment firms. However, the signs are that regulation is slowly becoming more coherent and different jurisdictions and regulators are starting to work in tandem.
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Australian investment managers are juggling increased competition, regulatory pressures and driving structural and technology transformation agendas to optimise their businesses.

 

We are seeing an increasing trend of organisations moving towards a more customer centric operating model to increase their share of the retirement segment via retention drivers and targeted customer segments aligned to their distribution channels and businesses.

 

This report identifies four key areas – structural market change, data and reporting, risk governance and conduct, culture and remuneration, where regulation, combined with other pressures, is already forcing asset managers to make significant changes.

 

  • Funds passporting has been a key area of focus for many regulators, governments and key industry players in the ASPAC region. It provides Australian fund managers access to a larger regional market and for investors, greater product choice and exposure to Australian fund manager expertise.
  • Future of Financial Advice reforms has resulted in the unbundling of product and advice fees, changes to remuneration/fee structures and significant improvement of advice processes, quality standards and governance models.
  • Superannuation and Self Managed Superannuation Funds are attracting increased focus from regulators and investors seeking greater control of their investments and taxation.
  • The financial systems inquiry presents an opportunity to examine and improve on the regulatory architecture and make further enhancements to improve a broadly sound financial system.
 

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Financial services regulation

Financial services regulatory change
Regulation can involve change and complexity, however many organisations use regulatory to underpin business transformation and drive change.

Investment Management

We work with clients to gain an in-depth market understanding and develop strategies spanning fund life cycles from value creation to realisation.