Switzerland, Shanghai, Sydney – your ASIC dollars at work
Outsider is pleased to note that while the Australian Securities and Investments Commission (ASIC) chairman, Greg Medcraft may be coming to the end of his extended tenure at the helm of the corporate watchdog he is exhibiting few signs of slackening his pace of international travel.
Early July found the peripatetic Medcraft in Shanghai answering the invitation of the Shanghai Institute of Finance to speak at the Bund Summit on Fintech – the perfect forum for him to demonstrate the awesome breadth of his knowledge on such matters, albeit there was nary a mention of ASIC’s foremost efforts in the arena – the regulatory sandbox.
Being the man he is, Medcraft concluded his address to the assembled and doubtless enraptured Shanghai fintechers by demonstrating the value of having access to a better than adequate travel budget.
He did so by quoting the words Chinese President Xi Jin Ping used earlier this year “when he gave an address at the World Economic Forum Annual Forum in Switzerland”.
“I had the privilege of being a member of the audience during President Xi’s address, and I can think of no better way to emphasise the importance of working together to face global challenges. This is what he said: ‘We should join hands and rise to the challenge. History is created by the brave. Let us boost confidence, take actions and march arm-in-arm toward a bright future.’”
Outsider feels certain that Medcraft’s observations are appreciated by all those financial services firms and superannuation funds currently contemplating how much they will be levied to fund the Government’s industry funding regime for ASIC.
AUTHOR
The Outsider
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