APRA hasn’t read the room on board governance overhaul
A better option for the regulator would be to improve enforcement efforts, rather than increasing the compliance and governance burden on directors and boards.
Non-executive directors across the finance sector will take comfort from prudential regulator chairman John Lonsdale going to great lengths to say his latest governance overhaul will involve “genuine consultation”.
That’s particularly the case given the Australian Prudential Regulation Authority’s proposal has caused consternation and is in stark contrast to moves in other markets where regulatory requirements are being cut, with a view to turbocharge economic activity.
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Joyce Moullakis writes on banking and finance, specialising in investment banking, private equity, and financial services. Connect with Joyce on Twitter. Email Joyce at jmoullakis@afr.com.au
