Join us for a vital discussion on the future of financial regulation in Australia with Associate Professor Andy Schmulow, a leading expert on financial services law.

The actions of financial service providers, including banks, insurers, and superannuation funds, have a profound impact on nearly every Australian. Despite the findings of the 2019 Financial Services Royal Commission (FSRC), misconduct such as mis-selling, fraud, and charging fees for no service continues to harm consumers. The existing regulatory framework is widely regarded as overly complex and rigid, enabling institutions to exploit legal loopholes instead of prioritizing fair and ethical practices.

Dr. Schmulow will discuss his groundbreaking research project, funded by a $561,000 ARC Discovery Grant, which investigates the potential introduction of a ‘Treating Customers Fairly’ (TCF) regime in Australia. Already adopted in the UK, South Africa, and New Zealand, TCF is a principles- and outcomes-based model that prioritises consumer protection by ensuring financial firms proactively treat customers fairly. The project aims to develop a blueprint for reform, simplifying Australia’s 5,000 pages of legislation and 43,000 pages of regulations into a clearer, more effective system.

Without reform, misconduct will persist, putting millions of Australians at risk. This event will explore how a new regulatory framework could create a fairer financial system for all.