ASIC Chairman Greg Medcraft reiterates faith in markets, self-regulation

Australian Securities and Exchange Commission chairman Greg Medcraft says the collapse of Lehman Brothers and Bernie Madoff has not shaken his faith in markets or self-regulation.

Medcraft, who was global head of securitisation at Societe Generale before he was ASIC chairman, says the financial industry and its regulators have responded well to the global financial crises.

“The re-shaping of regulation and industry standards is happening at the present time,” says Medcraft. “It is an evolutionary process.”

The fund management industry in Australia is operating well, he says.

“Our market is operating fairly and efficiently,” says Medcraft.

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Robeco CIO says AI winners and losers will be decided within a year

Asset managers that underestimate the importance of artificial intelligence to their businesses do so at their own peril, according to Anton Eser, global chief investment officer of Robeco, who thinks that many have less than a year to get across the “most important transformation” the industry has seen since the beginning of the index business more than 25 years ago.

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