What's the biggest challenge in financial services regulation currently? Systematic problems in financial services offered by the big banks that rip off tens of thousands of Australians? A continuing series of financial scandals among the banks and other major financial institutions costing hundreds of millions? The Australian Securities and Investments Commission's inability, or more correctly unwillingness, to upset the top end of town, let alone regulate it? The high price Australians pay for super funds management? The growing dead weight of a super system that's now significantly bigger than our actual economy?