The Government legislated a second tranche of Royal Commission recommendations, with the Financial Sector Reform (Hayne Royal Commission Response) Bill 2020 passing Parliament on the final sitting day of 2020. 

Lisa Schutz is Managing Director of Verifier – a consumer driven data sharing platform that puts people in control of their data to get better service and better outcomes in financial services.

It might be the year all of us wish to forget, but the consequences of COVID-19 have been defining moments for many – and for advice, 2021 is the year in which the industry charts a new course.

Climate change. Regulation. COVID-19. Recession. Populism. All these topics and more were tackled by local and international speakers at the FSC’s inaugural Investment Summit this week. 

The economist Milton Friedman famously said that in a market economy, ‘there is one and only one social responsibility of business – to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game.’ 

Christmas is around the corner (sure does not feel like it) but ironically feels premature given the prolonged months of slow activity during 2020 for reasons well-known.

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