Financial Reform

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Why We'll Never Be Free Of Payday Lenders

A list of the terms our society uses to describe payday lenders almost tells you everything you need to know. It reads a bit like a description of a B-grade horror film: predators, thieves, vampires, slave-drivers, or (my favourite) rapacious usurers. But if they're so awful, why are they everywhere? Why is it that, despite a seemingly universal hatred for them, they have popped up like mushrooms in cities across Canada?
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G20 Fails to Fix Global Finance. Again.

It's a wonder that the heads of state and heads of government of the G20 who just met in Russia spent any time at all talking economics. Seriously, how could they pull themselves away from discussing Syria (or Sochi, or Snowden) long enough to actually focus on the international financial system? Sure, that's the explicit purpose of the G20 meetings, but still, let's give credit where credit is due.

Incentive Pay That Works

It is hardly surprising that boards do not focus on value creation, strategic planning, or maximizing company performance, survey after survey, as much as they do on compliance. Their compensation structure does not incent them to. Here is what is needed to align director pay with shareholder interests:

Does Your Audit Committee Need a Reset?

There is a strong bias for audit committees to oversee many risks, not just financial. No regulation mandates this however. Audit committees should not oversee risks that they are not qualified to oversee. Here are a dozen broader questions to determine whether your Audit Committee needs a reset.