find the latest legal job
Senior Associate - Litigation & Dispute Resolution
Category: Litigation and Dispute Resolution | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Come work for a firm ranked in Lawyers Weekly Top 25 Attraction Firms
View details
Associate - Workplace Relations & Safety
Category: Industrial Relations and Employment Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Employer of choice · Strong team culture
View details
Freelance Lawyers
Category: Banking and Finance Law | Location: All Perth WA
· Freelance opportunities through Vario from Pinsent Masons
View details
Freelance Lawyers
Category: Other | Location: All Adelaide SA
· • Qualified lawyer with a strong academic background
View details
Freelance Lawyers
Category: Other | Location: All Melbourne VIC
· • Qualified lawyer with a strong academic background
View details
Regulators need to adapt to new technology

Regulators need to adapt to new technology

New South Wales Law Society head Stuart Westgarth has singled out the "lightning speed" of trading on global financial markets as the next major issue for regulators.Westgarth was speaking at…

New South Wales Law Society head Stuart Westgarth has singled out the "lightning speed" of trading on global financial markets as the next major issue for regulators.

Westgarth was speaking at the opening of a major corporate law conference at the NSW Supreme Court in Sydney this afternoon (23 August).

He said that the speed of such transactions would prompt regulators to review its policies.

"Jurisdictions around the world are taking a fresh look at market regulation to ensure the stability of securities markets," he said.

Westgarth added that the law needs to keep pace with the increasingly electronic nature of securities trading, with regulators needing to ascertain whether the increasingly complex nature of financial markets has made it more difficult to track transactions within any reasonable length of time.

Westgarth also lauded Australian regulators during his address for a "principles-based approach to market regulation". He said that the Australian model was being increasingly looked at by the International Organisation of Securities Commissions and that the success of the Australian regulatory approach had "shielded Australian entities from the worst fall-out consequences of the GFC".

Other speakers at the conference, which examined trends in share market regulation, included Tom Bathurst, the Chief Justice of NSW, Shane Tregillis, who is leaving his current post as the ASIC Commissioner to assume the role of chief ombudsman with the Financial Ombudsman Service on Thursday (26 August), and Alan Cameron, the chair of ASX Compliance.

See Lawyers Weekly tomorrow for more coverage of the conference.

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Regulators need to adapt to new technology
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
microphone
Oct 20 2017
Podcast: One of law’s most infamous alumni – in conversation with Julian Morrow
In this episode of The Lawyers Weekly Show, Melissa Coade is joined by The Chaser’s Julian Morrow....
protest
Oct 20 2017
High Court overturns ‘excessive’ anti-protest legislation
Bob Brown’s recent victory in the High Court over the Tasmanian government was a win for fundament...
Blocked
Oct 20 2017
Changes to Australian citizenship laws blocked
Attempts to beef up the requirements to obtain Australian citizenship were thwarted this week, after...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...