Wealth Management

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September 17, 2011

Roger Martin reinvents the finance system

What makes a the Dean of an MBA school effective? Personally, I appreciate Roger Martin, Rotman, because he puts his opinions down on paper and we benefit from his books but he also participates in public debates.
Here he is with Ed Clark of TD Bank and Arianna Huffington on a panel with The Economist and their video series on the financial markets. Arianna does not agree with Roger Martin's thesis that the system needs regular tweaking just like the NFA. As I am a Director on the board of the Exempt Market Dealers Association, I do agree with Roger Martin. Making changes in the finance industry takes a great deal of time to get through the system and encouraging incremental changes in the rules is good. The danger is that this tweaking will morph into an ever thickening rule book. I am in the private equity industry and as an example of the foolishness of government and regulatory rules, my small office must submit Anti-Terrorist reports every few months as part of our compliance. It is the over-zealous rule book making we all fear.
The comments by Ed Clark also make the video well worth watching, particularly where he answers the question, "Banks are hated by the public - do you think that view is valid?"

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