How the performance test could be tougher

The proposed performance benchmark understates performance when it comes to adjustments for withholding tax and benchmarking credit exposure with traditional fixed income indices, meaning that relative performance is overstated, David Bell writes.

Good engagement creates better policy

The key to addressing complexity and subjectivity in my experience is through good engagement. For engagement to work there needs to be a level of trust. Trusting can be difficult when significant agency issues exist.