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Regulatory

"People who complain are gotten rid of": ASIC

LAURA MILLAN  |  MONDAY, 9 DEC 2013
A submission to the Senate inquiry into the regulator's performance provides yet another testimony of a culture of "cronyism and favouritism" which includes threats and harassment of employees.

ASIC urges transparency on fund manager surveys

ALICE URIBE  |  FRIDAY, 6 DEC 2013
The Australian Securities and Investments Commission (ASIC) has urged research houses to make public the results of the surveys they complete for hedge fund managers to mitigate the potential for the improper use of analysts' forecasts on Australian ...

APRA releases final SuperStream reporting standards

JAMES FERNYHOUGH  |  THURSDAY, 5 DEC 2013
The Australian Prudential Regulation Authority (APRA) has released the final version of its Reporting Standards SRS 711.0 for SuperStream Benchmarking Measures, relating to the rollover and contribution transactions of super funds.

ASIC chair defends against media 'smear'

JAMES FERNYHOUGH  |  TUESDAY, 3 DEC 2013
The Australian Securities and Investments Commission (ASIC) chairman Greg Medcraft has released a YoutTube video defending ASIC's "good work" and criticising what he termed an attempt by the media to "smear our staff and culture."

ASIC concerned about PDS font size, consumer warnings

LAURA MILLAN  |  THURSDAY, 28 NOV 2013
The Australian Securities and Investments Commission (ASIC) is concerned that some providers are adapting to the new shorter product disclosure statement (PDS) by reducing the font size and has solved the issue by establishing the minimum font size at ...

People aged 85+ to triple by 2040

ALEX DUNNIN  |  TUESDAY, 26 NOV 2013
Just released updated population projections from the Australian Bureau of Statistics (ABS) forecasts that by 2040 the number of people aged 65 or more will double and number aged 85 or more will triple.

ASIC beefs up surveillance system

MARK SMITH  |  MONDAY, 25 NOV 2013
New upgrades to the Australian Securities and Exchange Commission's (ASIC) market surveillance system allowing the regulator to conduct multi-market supervision across futures and equities in real time are now operational.

Planners need discretion on SMSF cost advice: SPAA

JAMES FERNYHOUGH  |  MONDAY, 25 NOV 2013
Advisers should not be forced to quote a universal break-even point when advising clients on starting a self-managed superannuation fund (SMSF), according to the SMSF Professionals' Association of Australia.

ASIC backs down on custody whistleblowing requirements

JAMES FERNYHOUGH  |  FRIDAY, 22 NOV 2013
The Australian Securities and Investments Commission (ASIC) has backed away from its plan to impose strict whistleblowing requirements on custodians, after receiving unanimously negative feedback from the industry.

WA govt plans string of infra asset sales

JAMES FERNYHOUGH  |  THURSDAY, 14 NOV 2013
The Western Australia (WA) government is planning to sell a number of infrastructure assets, as part of a recycling strategy similar to that employed by the New South Wales government.