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Showing 81 - 90 of 123 results for %22financial abuse%22

SPAA "disappointed" by the FSI's SMSF borrowing recommendations

ALICE URIBE  |  MONDAY, 8 DEC 2014
The SMSF Professionals Association of Australia (SPAA) has rejected the Financial System Inquiry's (FSI) recommendation that the government reinstate the prohibition on direct borrowing for limited recourse borrowing arrangements (LRBAs) by superannuation ...

Bowen supports lump sum status quo

JAMES FERNYHOUGH  |  THURSDAY, 7 AUG 2014
... their right to withdraw superannuation as a lump sum, Shadow Treasurer Chris Bowen has said. Addressing delegates at the Financial Services Council conference, the former treasurer said forcing consumers to take their super in the form of annuities was ...

S&P denied appeal over landmark ruling

MARK SMITH  |  WEDNESDAY, 25 JUN 2014
... charities and church groups which lost at least $180 million when AAA-rated investments went sour in the wake of the global financial crisis. The judgement clears the way for the not-for-profit groups to continue their pursuit of a damages claim against ...

Court rules against S&P in Lehmann Brothers class action

LAURA MILLAN  |  THURSDAY, 8 MAY 2014
... S&P's decision to give AAA ratings to complex derivative products sold by Lehman Brothers in the lead up to the global financial crisis. The Federal Court ruled in favour of the claimants in September 2012, but S&P tried to set the claim aside last year. ...

Consumers safe under FoFA changes: former judge

MARK SMITH  |  WEDNESDAY, 19 FEB 2014
The best interests of consumers are not under threat from the Government's proposed changes to the Future of Financial Advice Reforms (FoFA), according to SMSF Professionals' Association of Australia (SPAA) patron Sir Anthony Mason. In his opening address ...

Cap scrap leaves tax abuses unanswered

LAURA MILLAN  |  THURSDAY, 7 NOV 2013
The financial services industry has welcomed the removal of the self-education expense deductions, but the measure leaves concerns about taxpayers' abuse of the system unanswered. The Labor government introduced a cap of $2,000 on tax deductibility ...

Leading fund manager demands reporting rule change

MARK SMITH  |  MONDAY, 4 NOV 2013
... information cannot be regulated, however hard ASIC tries, and so a better solution is to require a consistent flow of financial information to the broader market that reduces the value of inside or private information." Abernathy added that ASIC is already ...

Finance industry integrity called into question

LAURA MILLAN  |  THURSDAY, 12 SEP 2013
Financial services stakeholders have little confidence in the industry's integrity and its capacity to manage conflicts of interest, with almost a third saying that the different sectors don't operate with integrity. Financial advisers are seen to be ...

Hedge fund industry calls for consistent global regulatory framework

MARK SMITH  |  TUESDAY, 10 SEP 2013
... financing of the economy and the hedge fund industry plays an ever increasing role in the entire chain of investing and financial intermediation, contributing to market depth, sophistication, transparency and thus its ability to support growth," AIMA ...

ASIC finalises OTC derivatives reporting rules

MARK SMITH  |  FRIDAY, 12 JUL 2013
... Investments Commission (ASIC) has issued its final rules around over-the-counter (OTC) derivatives trade reporting for financial institutions. The regime is set out in a package of rules and guidance released by ASIC today on a new OTC derivatives reform ...