Conversation Series – 27 Nov 2013
For the last LIXI Conversation Series of 2013, LIXI was thrilled to welcome Kym Dalton and Alex Erskine for a panel discussion focused on the benefits, challenges and industry issues associated with a principles-based regulatory system.
Kym Dalton, Chairman of GlobalED, is a passionate advocate of financial literacy, a self-titled “Comprehensive-ist” and advocate of playing fair, both by lenders and borrowers. His current roles include 'futurist', expert witness and finding a simple solution to addressing the discrepancy between consumer disclosure and comprehension.
Until recently, Alex Erskine served as the Chief Economist of ASIC. Now the Managing Director & Founder of Erskinomics Consulting, Alex has previously worked for Citibank and earlier as an Assistant Secretary of the Economic Division to the Department of the Prime Minister and Cabinet when government was responding to the Campbell Report.
As the custodian of data messaging standards, LIXI focused this Conversation Series on regulation as Members have indicated the organization has a role to play in assisting Members to gain clarity around certain regulations issues, specifically in regards to standards requirements and development. Conversation was wide ranging and fast paced between the panelists and audience; some of the topics covered were the discrepancies between lenders in regards to interpretation of regulation and how this may be more effectively managed and the resources of the regulatory bodies to meet the growing demand associated with increasing regulation and enforcement. There was also conversation about 'the next 800 years' of NCCP, what the future of the current Australian regulatory architecture and framework may evolve into and the importance of consumer education in the lending process.
LIXI formed the Conversation Series in late 2012 specifically for high-level, non-technical discussion focusing on common industry issues where further efficiency has been identified by the lending community. Since inception, industry response has been positive for this community approach and the series has grown in popularity and scope.
Thank you to NAB for hosting this event.