Blog post on the challenge of being a regulatory board member

The unique challenges of being a regulatory board member

If you sit on the Board of a regulator, congratulations! You are probably overworked, under-compensated, little appreciated and not understood. After all, regulatory Boards are strange creatures. Whilst they often look like Boards of corporate entities, their remit isn’t to increase profits but to reduce harm. In a company, profit is easily measured and seen. In a regulator, however, harm […]

What is compliance planning

Compliance Planning: Allocating scarce resources to the issues you care about

One of the main challenges for regulators is how to stretch our resources to adequately cover our responsibilities. Compliance planning is an essential tool for meeting these challenges. Where are you going to put your regulatory efforts? How much capacity do you have? Where do you put your energy to minimise harm? How do you communicate your plan so duty […]

Economic regulation with Simon Corden

Is Economic Regulation Just About Markets? Regulating to Protect Consumers and Vulnerable Populations

The Nobel Prize winning economist Milton Friedman famously said that the business of business is business, and that business’s only social responsibility is to increase profits within the rules of the game. Those rules contribute to the science and art of economic regulation, addressing market failures or, alternatively, making markets work better. Economic regulation is effectively government-sponsored intervention in market […]

culture corruption risk management

Is Culture really a Soft Skill? Culture as a Defence Against Corruption

Culture is the currency of delivery The Royal Commission into Banking Misconduct revealed many instances of systematic corruption, from employees setting up fraudulent loans, to opening children’s accounts to meet targets for bonuses. Commissioner Hayne recommended that organisations assess their culture. Philosopher Amelie Rortywrote about corruption in a 1998 essay which started, ‘Nothing is more natural than sliding down the […]