Systemic risk: The role of securities regulators
28 June 2011
Greg Medcraft, Chairman of the Australian Securities and Investments Commission (ASIC), said that the nature of innovation means that it is difficult for regulators to anticipate or even keep up with developments, and systemic risks can emerge very quickly.
The main factors guiding ASIC's approach are:
• legislative responsibilities;
• systemic or regulatory risk (Medcraft addresses this in greater depth in his speech);
• stakeholder expectations; and
• government policy.
