Transparency and efficiency amid industry change was the focus of last week’s 2013 Investment Administration Conference, held in Sydney. John Brogden, chief executive officer of the Financial Services Council closed proceedings with a keynote address on the state of the nation, discussing the potential outlook for financial services and the roles of its players.
Pierre Jond, chair of the Australian Custodial Services Association (ACSA), which is a partner to Conexus Financial in the event, applauded Brogden’s speech, saying he deserved his time on stage.
Jond also pointed to input from the Australian Securities and Investments Commission (ASIC) on gatekeeping, namely Gerard Fitzpatrick, senior executive leader, investment managers and superannuation.
“We have a very good relationship with ASIC, and we talk very openly and frequently. I was very pleased to hear from Gerard Fitzpatrick [that] gatekeeping is really the application of the law and not some sort of generic requirement to be a watchdog over the responsible entities.”
Joseph Antonellis, vice chairman of State Street Corporation in Boston delivered a keynote address on global trends and developments in custody and investment administration.
Elsewhere, Jond says there was interesting discussion around data provision and, despite differing views, data or information provision reporting is going to be a main focus and driver for custody going forward.
“It’s structuring and providing information to investment funds or clients,” he says. “It’s something which is already occurring, but I think that this is going to be an area of focus, and an area where more emphasis is going to be placed.”