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Regulatory

Get longevity risk right on DLAs, warns APRA

JAMES FERNYHOUGH  |  THURSDAY, 10 OCT 2013
Insurers planning to offer deferred lifetime annuities (DLAs) will need to demonstrate that they have rigorously factored in longevity risk, according to Ian Laughlin, deputy chair of the Australian Prudential Regulation Authority (APRA).

ASIC rescues lower risk products from 'hedge fund' label

MARK SMITH  |  FRIDAY, 4 OCT 2013
The Australian Securities and Investments Commission (ASIC) has tweaked its definition of a hedge fund, to reduce the number of products that fall within stricter disclosure requirements.

Sonray director to face 10 years imprisonment over unfunded deposits

ALICE URIBE  |  THURSDAY, 3 OCT 2013
The sole director of Sonray Capital Markets (Sonray) Russell Andrew Johnson could face up to 10 years jail time over criminal charges relating to false accounting, theft and deception.

Senate to question ASIC over alleged RBA corruption

LAURA MILLAN  |  TUESDAY, 1 OCT 2013
The Senate inquiry into the performance of the Australian Securities and Investments Commission (ASIC) will "no doubt" question the regulator over its failure to act on the alleged corruption within subsidiary companies of the Reserve Bank of Australia ...

Court freezes LM Investment Management founder's assets

MARK SMITH  |  MONDAY, 30 SEP 2013
LM Investment Management founder Peter Drake has had his assets frozen and been forced to surrender his passport by the Supreme Court of Queensland following an application by the Australian Securities and Investments Commission (ASIC).

ASX endorses Henry board director bid

ALICE URIBE  |  WEDNESDAY, 25 SEP 2013
The Australian Securities Exchange (ASX) has endorsed former Treasury boss Ken Henry's bid to become a director of the ASX board as it looks to renewal after the resignation of two long-serving directors over a US share-trading scandal.

ASIC, "twin peaks" model faces review

LAURA MILLAN  |  MONDAY, 23 SEP 2013
Evidence that it took at least 16 months for ASIC to act on whistleblowers' information about misconduct within the Financial Planning division of Commonwealth Bank became a turning point in the long-running debate around the effectiveness of the current ...

Hedge fund industry calls for consistent global regulatory framework

MARK SMITH  |  TUESDAY, 10 SEP 2013
Global hedge fund industry body, the Alternative Investment Management Association (AIMA) has called for greater consistency in in global regulations governing the industry in its newly published statement of policy principles.

Property group director jailed for four years

LAURA MILLAN  |  MONDAY, 9 SEP 2013
Dollarforce Financial Services former director Clestus Weerappah has been jailed for four years over his role in the collapse of the property development group.

Former Opes Prime director acquitted of dishonesty charges

ALICE URIBE  |  MONDAY, 9 SEP 2013
Former Opes Prime Stockbroking director Julian Smith has been acquitted of dishonesty charges.