With these Guidelines in-force, the Board of Directors of respective FAs are now required to establish the necessary processes to ensure proper monitoring of the quality of the advisory process conducted by FA representatives, and we expect FAs to deal firmly and expediently in the event of non-compliance which results in mis-selling or the provision of inappropriate advice. I am greatly encouraged to see the continuing growth of the FA industry and today’s event marks a significant milestone for the industry as a whole. The theme of this Conference, “Charting New Frontiers – Financial Advisers the Future” is well-timed and reflective of the  BIS central bankers’ speeches  3  changes we are now experiencing as our nation progresses towards a high-income economy. Once again, I would like to congratulate AFA on its official launch and look forward to meaningful contributions from the Association in driving the financial advisory sector forward. On this note, I wish you all a successful and productive Conference. 4  BIS central bankers’ speeches
John C Williams: A tale of many economies Remarks by Mr John C Williams, President and Chief Executive Officer of the Federal Reserve Bank of New York, at University at Albany-SUNY, Albany, New York, 11 July 2019. * * * As prepared for delivery Thank you for that kind introduction and for having me to speak today. I’m an economist, so I naturally have a fascination with data, statistics, and what we can learn from them. But the reason I find economics so interesting isn’t the numbers or the charts—it’s how they shape the everyday lives of people. And that’s the reason running a Federal Reserve Bank is such a privilege. The work we do—our public mission—plays a big role in helping people get jobs, take out mortgages, or grow their businesses. Today I’m going to talk a bit about that work and the health of the economy—both at the national level and for this region, the Federal Reserve’s Second District. Before I go any further I need to give the standard Fed disclaimer that the views I express today are mine alone and do not necessarily reflect those of the Federal Open Market Committee or others in the Federal Reserve System. I’ve just referred to the Federal Open Market Committee and the Federal Reserve System, but I know it’s not always entirely clear to people what they are, or what they do.