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Market wrap

AAP  |  TUESDAY, 7 JUN 2005
In Sydney, the Australian share market is expected to open weaker as only a slight gain from the US is unlikely to offset a combination of profit taking and weaker base metal prices. On the Sydney Futures Exchange, the June share price index contract ...

AIST warns trustees on APRA licence deadline

The Australian Institute of Superannuation Trustees (AIST) has issued a warning to superannuation funds to get their Australian Prudential Regulatory Authority (APRA) license before the 30 June 2005 deadline saying industry funds will simply not be ...

Macquarie opens sixth Fusion Fund series

Macquarie will launch the sixth offering in its Fusion Funds series with the funds due to remain open to initial investors for the month of June only. The funds, offered by Macquarie Financial Products Management Limited and open to retail investors ...

Treasury releases Future Fund tender

The Treasury Department has released the tender documents for the investment management components of the Future Fund giving interested parties just under one month to submit their application. The introductory information relating to the tender, available ...

Gov to refine FSR by year end

The Federal Government hopes to have in place its refinements to the Financial Services Reform (FSR) Act by the end of the year, Parliamentary Secretary to the Treasury Chris Pearce told an IFSA member lunch yesterday. "To my mind FSR is a basically ...

ASIC amends stance on wholesale foreign financial service providers

The Australian Securities and Investments Commission (ASIC) has revised its policy document covering the relief it will grant to wholesale foreign financial service providers (FFSP) who are monitored by international regulatory bodies from the financial ...

APRA investigation leads to criminal charges

Five individuals associated with the running of a 'Wall & Ceiling Superannuation Fund' are facing a total of 34 criminal charges in Melbourne Magistrate Court following an investigation by the Australian Prudential Regulation Authority (APRA). Three ...

ASIC documents and expands relief rulings

The Australian Securities and Investments Commission (ASIC) has released an updated report detailing its relief rulings given to financial service providers from certain provisions of the Corporations Act 2001, and has also issued a new class order ...

APRA releases tough standards for insurance industry

The Australian Prudential Regulation Authority (APRA) has issued draft prudential standards on a proposed strengthening of the prudential supervision of general insurance for risk and financial management. The draft standards include a discussion paper ...

ASIC moves to fine tune financial services guides

ASIC will provide relief to financial service providers in disclosing additional remuneration requirements currently required by the Corporations Regulations 2001. The Class Order (CO 05/27) Financial Services Guides - Tailoring Relief exempts financial ...