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Regulatory

ASIC user-pay model "eminently sensible": SEC veteran

ALEX BURKE  |  WEDNESDAY, 20 APR 2016
Adopting the industry funding model for ASIC will result in a much more efficient and less politically-motivated regulator, according to former assistant director of the division of enforcement at the US Securities and Exchange Commission Jordan Thomas.

Government boosts ASIC with $127m package

ALEX BURKE  |  WEDNESDAY, 20 APR 2016
Following industry speculation, the Turnbull Government has announced a $127.2 million reform package for ASIC.

Australian system needs "substantial reassessment": SEC veteran

ALEX BURKE  |  TUESDAY, 19 APR 2016
In light of news about a potential Royal Commission, former assistant director of the division of enforcement at the US Securities and Exchange Commission Jordan Thomas has said Australia's financial system could benefit from "substantial reassessment."

Turnbull highlights ASIC resources boost in Parliament

ALEX BURKE  |  TUESDAY, 19 APR 2016
Reiterating that the regulator is the "tough cop on the beat," the Prime Minister has suggested in Parliament that ASIC will be given greater resources as part of a capability review.

ASIC reduces ban on director of fabricated fund

KERRIE SYDEE  |  MONDAY, 18 APR 2016
The Administrative Appeals Tribunal (AAT) has approved an agreement between ASIC and Queensland man, Paul Duncan, to reduce his ban from providing financial services from four years to three.

CPA granted AFSL

KERRIE SYDEE  |  MONDAY, 18 APR 2016
ASIC has granted CPA Australia an Australian Financial Services licence (AFSL) and an Australian Credit Licence (ACL) for its wholly owned subsidiary, CPA Australia Advice.

Banking inquiry cost better spent on ASIC: AFA

KERRIE SYDEE  |  FRIDAY, 15 APR 2016
The money needed to hold a royal commission into banking would be better spent on supporting ASIC, according to the Association of Financial Advisers (AFA).

Royal Commission won't hit banks where it hurts

ALEX BURKE  |  FRIDAY, 15 APR 2016
Labor's proposed $53 million Royal Commission won't change big bank behaviour like losing market share to smaller competitors would, according to the Customer Owned Banking Association.

APRA releases report on Trio investigation

KERRIE SYDEE  |  MONDAY, 11 APR 2016
The Australian Prudential Authority (APRA) has released its report on its investigation into the failure of Trio Capital Limited (Trio) and loss of up to $150m.

Regulators defended in calls for Royal Commission

DARREN SNYDER  |  MONDAY, 11 APR 2016
Prime Minister Malcolm Turnbull has defended industry regulators in the wake of Opposition Leader Bill Shorten's call for a Royal Commission in to the banking and financial services sector.