Posts in IMHO
You're right, "Compliance" is (still) the problem

Smarter Compliance. As easy as it has been to highlight the ignorance and arrogance of some advice ‘leaders’, the reality is that their failings may have been exacerbated by compliance functions that were impotent, ignorant or lacking in courage. In fact, ASIC might add ‘compromised’ as a defining feature of some of these compliance functions. The sad truth is that ASIC was not alone in its criticism of compliance functions; both APRA and the Banking Royal Commission have echoed similar concerns and highlighted a need for the transformation of ‘compliance’. This article considers how burgeoning expectations about competency, capability and courage should apply to your compliance function.

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Head to Head: The MDA Guru on 2018

Smarter Compliance. Peter Turbach from MDA Guru believes that, as a result of FOFA, ASIC Regulatory Guide 179 (RG 179) and the Royal Commission, financial advisers, investment managers and MDA providers are struggling to identify how to identify the path forward in the face of regulatory ambiguity, legislative equivocation and uncertainty. In this article, Peter answers our questions and offers some thoughts and advice to advisers dealing with MDA and SMA.

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And another thing, I've been wondering, lately

The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry has identified so many cultural, ethical and management failures that vertical dis-integration, Product Intervention Powers, BEAR and the imposition of Principal Integrity Officers are needed to restore trust. Ignoring current and proposed "regulatory catalysts", I'd suggest that re-defining 'Compliance' is a critical step to restoring trust and creating transparency and accountability.

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Head to Head: Adviser Reviews

In these series articles, two experts provide their (sometimes divergent) views of topics with which licensees and advisers sometimes struggle. They offer their opinions and occasionally some insight. Feel free to join the debate and offer your commentary. This article addresses monitoring and supervision and explores alternative ways of reviewing advisers. If you struggle to understand why on-site reviews are better than remote reviews (or why remote reviews are better than on-site reviews) this article may help you identify the reasons, risks and implications. 

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Why Advisers should be more like Captain Kirk

Despite his tendency to ignore inconvenient Starfleet regulations (and notwithstanding his inappropriate workplace conduct) Captain James Tiberius Kirk really "got" compliance. In fact, he embraced file-notes more frequently than he embraced Orion slave girls. Financial planners would do well to follow his example. He shows that you can be compliant and cool; on the downside, he shows us that the future doesn't have any fewer bureaucratic record keeping obligations. 

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