Sector has to prove its worth

New Zealand’s financial services sector must prove it deserves the public’s trust – or face the consequences of a situation like the one unfolding in Australia, says the country’s leading financial ethics and integrity association.

CFA Society New Zealand holds its 13th annual Gala Forecast Dinner in Auckland on October 31 and the fallout of the findings by Royal Commission into banking, superannuation and financial services across the Tasman will be the central topic for discussion.

“It’s been a big year for the industry, but not necessarily for the right reasons,” says CFA Society NZ president Jeff Stangl.

“We’re not immune to what’s happening in Australia and public confidence in our financial institutions has been severely shaken. For New Zealand it’s a timely warning that, as a professional sector, we need to lift our game and restore public trust or risk having regulators stepping in to do it for us.”