How to build regulatory trust: five questions every senior leader should ask
Regulatory trust isn’t won in a single ASIC meeting; it’s earned daily through accurate, timely, well-governed reporting. In James Dickson’s SIAA Monthly piece (Dec 2025, pp. 13–15), leaders are given a clear framework: ask sharper questions about ownership, causes, notifications, data architecture and independent assurance, then prove answers with evidence.
The five questions (and why they matter)
When something goes wrong, who owns it, and how quickly is it fixed?
Speed, accountable ownership and structured remediation signal maturity, not defensiveness.Are root causes fixed with complete back-reporting, or are symptoms just patched?
Regulators expect full-population analysis, historic corrections where needed, and proof the issue won’t recur.Do breach/incident reports genuinely enlighten ASIC?
Clear plain-English explanations, quantified impact, root-cause analysis, governance evidence and time-bound next steps build confidence.Is your data architecture strong enough for both daily reporting and long-term scrutiny?
End-to-end lineage, consistent definitions, sensible logic and robust change management are essential, especially when back-reporting is required.Is there independent, data-driven assurance, not just internal reassurance?
Full-population testing and external challenge reveal issues internal teams miss and give boards objective confidence.
What “good” looks like
Clear ownership and credible timelines for every material issue.
Root-cause remediation plus complete back-reporting where appropriate.
High-quality notifications that actually inform the regulator.
Strong data governance that supports accuracy today and scrutiny tomorrow.
Independent assurance to complement internal controls.
Bottom line
Trust is built through integration, not isolation: well-managed systems, sensible logic, strong governance, effective controls and active leadership - evidenced, not asserted.
