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The papers in the special section of the journal consider important trends in the secured money markets, the self-managed super fund sector, asset management, industry culture, and concentration and contagion risks in the Australian banking sector. Angela Pearsall, Liam Hennessy and Jessica Taylor e...

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Bibliographic Details
Published inJASSA no. 1; pp. 4 - 5
Main Author Davis, Kevin
Format Journal Article
LanguageEnglish
Published Sydney Finsia - Financial Services Institute of Australasia 01.01.2017
Subjects
Asset management
Awards & honors
Banking
Banking industry
Financial services
Life expectancy
Money markets
Regulation of financial institutions
Regulatory reform
Retirement
Standard of living
Superannuation
Trends
Volatility
United Kingdom > UK
Australia
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Summary:The papers in the special section of the journal consider important trends in the secured money markets, the self-managed super fund sector, asset management, industry culture, and concentration and contagion risks in the Australian banking sector. Angela Pearsall, Liam Hennessy and Jessica Taylor examine the international regulatory reforms introduced in recent years, which are designed to heighten senior management responsibility and bring about cultural change in financial institutions, where people take ownership and responsibility for 'doing the right thing' and ensuring 'good outcomes for customers'. The paper also considers the likely impact of the introduction of the Banking Executive Accountability Regime (BEAR) on Australia's financial services landscape, which the authors note appears to be largely modelled on the UK Senior Managers Regime (SMR) that came into effect in March 2016.