‘Fiduciary’ and ‘best interest’ are commonly used terms interpreted differently in the law and often misunderstood by the legislature, media, in the investment chain and in corporate governance. Their heritage lies in equity, meaning a duty to give undivided loyalty to the vulnerable whom they serve. That is where divergence begins.

Dr David Millhouse, the Senior Research Fellow at the Faculty of Law at Bond University, discusses how to utilise analytics, AI and robotic process automation to meet regulatory duties. He will be delving further into this topic at the upcoming In-House Counsel: CPD Compulsory Units taking place on Tuesday 1 December 2020.

Scholarly empirical analyses provide guidance to policy makers in Australia’s ascent from the viral abyss to entrepreneurial sunlit uplands on which post-COVID prosperity might be built. These analyses provide regulatory options which can substantially diminish or lengthen the damage inflicted by the present crisis. They are policy choices only exercisable by the federal government.

Australia is replete with commissions and inquiries into egregious behaviour in its financial sector. This author has quantified the effects of those behaviours on individuals and the wider economy.1 These investigations include Heydon2 (elimination of unhealthy culture), Hayne3 (confluence of law and morality) and the Productivity Commission4 (trust).