Greater Transparency and Better Governance; a calming whisper of wise advice from over 100 years ago…

I created the Transparency Task Force back in 2015 in an attempt to build an international community interested in helping to drive positive, progressive and purposeful finance reform. Many of the changes we want to see are about providing greater transparency and better governance.

I think of transparency and better governance as forces for good and we desperately need more of both in financial services.

I mention this because I am saddened to read of the recent developments within the New York Chapter of the QWAFAFEW Society, established as an informal and participative work alliance to promote education and networking for the quantitative investment community.

It seems to be a community that is suffering as a result of insufficient transparency and poor governance; and if this continues, the Chapter’s ability to serve the purpose it was originally created for may be terminally jeopardised.

It is somewhat ironic that two of the most significant root causes of the Global Financial Crisis i.e. a lack of transparency and poor governance, have now come to corrosively impact a community organisation created to shine a light on the very issues that may now cause it permanent harm.

The good news is that it’s never too late to reform; and I hope that the new officers that may lead QWAFAFEW into the future are willing and able to hold as sacrosanct the true virtues of greater transparency and better governance.

 Perhaps there’s enduring wisdom and contemporary relevance in some calming words of wise advice first written over 100 years ago:

 “Sunlight is the best of disinfectants; electric light the most efficient policeman” Justice Louis D. Brandeis, 1914 in his ground-breaking book Other People’s Money And How the Bankers Use It.

I do hope these thoughts are taken for what they are meant to be - a hopefully helpful steer in the right direction.

I'd welcome any polite feedback regardless of the extent to which we may agree with each other.

Your thoughts, please...