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The Corporate Counsel Show: Risk, reform and financial services
When it comes to the sheer scale and pace of change in the development of risk, how we understand it and how to respond to it, in-house legal teams are finding that “the law isn’t being a helping hand”. This needs to change.
Robyn Tongol
On this episode of The Corporate Counsel Show, host Jerome Doraisamy welcomes Australian Law Reform Commission senior legal officer Nicholas Simoes da Silva to discuss the commission’s new background paper, Risk and Reform in Australian Financial Services Law, and the evolution in thinking about risk as a drive in financial services law reform.
Mr Simoes da Silva spoke about the need for increased flexibility and reduced complexity, the extent to which corporate counsel are subject to legislative changes, the state of affairs for risk and how it has entered mainstream language, how the law isn’t always helpful in assisting in-house teams mitigate risk, and how legislative frameworks need to be able to handle changing approaches to risk and how obligations are imposed on financial services, providers and licensees.
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