william c dudley : opening remarks at the evolution of work conference opening remarks by mr william c dudley, president and chief executive officer of the federal reserve bank of new york, at the evolution of work conference, federal reserve bank of new york, new york city, 17 november 2016. * * * nora fitzpatrick, laura pilossoph, anika pratt and aysegul sahin assisted in preparing these remarks. good morning. i would like to welcome you to this conference on the evolution of work. today, we will explore how the nature of work is evolving, including the role of technology, shifts in employee work arrangements and employer - employee relationships, and the effects of these changes on workforce development strategies. we are pleased to host this conference with the board of governors of the federal reserve system and the freelancers union. we welcome all the leaders from across academia, government, industry, labor and the nonprofit sector assembled here to explore the transformation of the workforce, and the impact this has had on communities and the economy more broadly. as always, what i have to say today reflects my own views and not necessarily those of the federal open market committee or the federal reserve system. as you know, the federal reserve monitors the labor market closely, given that maximum sustainable employment is one goal of the fed ’ s dual mandate. the evolving nature of the workplace — and the speed with which it is changing — are therefore important developments that we must continue to monitor. traditional nine - to - five jobs are becoming less common, and people are increasingly employed in less traditional work arrangements. measuring the creation and destruction of these new jobs is of utmost importance to gain a better assessment of the health of the labor market. we also need to understand how this evolution is affecting job security and earnings stability. while these jobs might provide workers with more flexibility, they might also come with increased income volatility and financial vulnerability. in today ’ s gathering, we will discuss the measurement challenges we face to better understand this growing segment of the labor market, and we will facilitate a dialogue aimed at developing a workforce aligned with the evolving nature of work. the fed ’ s efforts to understand labor markets include analyzing the comprehensive data that exist now. but, in an ever - changing workplace, it is critical that we hear from external stakeholders to understand their views on these changes and to ensure we incorporate them in our assessments. this is an important part of our discussion. as technological changes persist, it is inevitable that the nature of our

zeti akhtar aziz : establishment of the financial services professional board in malaysia speech by dr zeti akhtar aziz, governor of the central bank of malaysia ( bank negara malaysia ), at the official launch of financial services professional board, kuala lumpur, 24 september 2014. * * * it is my great pleasure to welcome you to this occasion of the official launch of the financial services professional board. among the key challenges emerging from the global financial crisis and the recent episodes of financial market manipulation is for the need to have a strong culture of professionalism, integrity and ethics permeating throughout the financial services industry to restore public trust in the financial system and to secure long - term sustainability of the industry. the 2008 financial crisis highlighted how business decisions that were predominantly driven by short - term incentives critically undermined the health of some of the largest global companies. this in turn had enormous consequences on entire economies. not only has public confidence in the financial services industry been shaken, but the prevailing business models of financial institutions have been questioned with calls being made for changes that are more aligned with long - term sustainability. these changes relate to both the general structure and activities of financial institutions, and to the governance and culture within the institutions. while financial institutions have to create value for shareholders, of fundamental significance is also the need to serve the public interest given the importance of a well - functioning financial system in the economy. additionally, in a highly interconnected global economy with greater international financial inter linkages, financial turmoil and stress in national financial systems will have ramifications that transcend borders. given the high stakes involved, there has been increasing scrutiny of the values, professional norms, educational standards and incentives that drive and shape the behaviour of financial institutions. much of this scrutiny has aimed at reinforcing the responsibility that financial institutions have to the broader society. the establishment of the financial services professional board ( fspb ), thus marks a significant development towards achieving the highest standards of professional conduct including fair business dealings and ethics in the financial services industry that will be consistent with the long - term growth, stability and integrity of the financial system. it is envisaged that the financial services professional board will act as an industry - led independent board that will drive the development as well as the advocacy of professional standards, ethics and continuous professional development across the financial services industry. central to this aim is the development of a culture within the financial services industry which places an unequivocal commitment to professionalism and