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Interest rates - Column

By Julia Newbould
 — 1 minute read
What do Dodgeball, Zoolander and the corporate regulator have in common? It's not a Ben Stiller movie, yet.
We all have favourites - in everything we do. When I watch a movie to relax, I like a comedy. When I choose a comedy, I like Ben Stiller. What do I like about Ben Stiller comedies? He's often the little guy, downtrodden, struggling to achieve what he wants.

He battles his future father-in-law in Meet the Parents. His father-in-law is the sophisticated ex-CIA spook. In Zoolander, he plays a dimwitted male model who has to fight against the bad guys who want him to murder the Prime Minister of Malaysia. In Dodgeball he turns the tables and is the rich business owner trying to take over the little guys in the rundown loser gym next door. But the good guys still manage to take a stand and win.

While I think he's bloody funny, I also like the stories of the little guys not afraid to speak out in the name of what's right and decent. The feature this week looks at ASIC and highlights an issue the little guys have in that they feel they can't speak out against the regulator/enforcer. When they complain or suggest the regulations don't make sense, they feel they or their businesses may receive extra scrutiny.

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ASIC has the power to ban an adviser from their job, effectively cutting their livelihood. Even the head of the FPA has suggested the regulator sometimes jumps to conclusions and has a slightly inconsistent approach. Should the enforcer also be the policymaker and interpreter? Should policy statements be issued as guidelines or laws? Should there be flexibility for industry to have input into what is best for all concerned? Is coregulation an option? Is Ben Stiller going to be available for the movie?

Interest rates - Column
What do Dodgeball, Zoolander and the corporate regulator have in common? It's not a Ben Stiller movie, yet.
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