Is self-regulation dead?

Thursday 5 September, 2019
by Wayne Byres, APRA Chairman
8 August 2019

Wayne Byres, Chairman – Crossroads: The 2019 Banking and Finance Oath Conference, Sydney

Good morning. I am very pleased to be part of this event, and to lend my support to the Banking & Finance Oath and to Finsia, both of whom are playing important and timely roles highlighting the importance of trust and professionalism for a successful financial sector.

In my remarks this morning, I’ve been asked to answer the question: is self-regulation dead? To cut to the chase, my answer is that I certainly hope not. If self-regulation is failing, we need to revive it, not write it off. Good self-regulation – in the broadest sense of the term, capturing self-discipline and restraint – is essential to providing the community with a well-regulated, efficient and value-adding financial services sector. It is not optional.

Read the full speech by Wayne Byres here.

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The Oath

  • Trust is the foundation of my profession.
  • I will serve all interests in good faith.
  • I will compete with honour.
  • I will pursue my ends with ethical restraint.
  • I will help create a sustainable future.
  • I will help create a more just society.
  • I will speak out against wrongdoing and support others who do the same.
  • I will accept responsibility for my actions.

In these and all other matters;
My word is my bond.

The Vision

A banking and finance industry that meets the community’s needs and has its full confidence thereby fulfilling its integral role in society.