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Regulatory

CBA and HSBC change 'misleading' ads

MARK SMITH  |  WEDNESDAY, 17 JUL 2013
The Commonwealth Bank (CBA) and HSBC Bank have changed their advertising for structured products aimed at retail investors after the Australian Securities and Investments Commission (ASIC) said they were potentially misleading.

Bell Potter adviser banned for dishonest conduct

JAMES FERNYHOUGH  |  TUESDAY, 16 JUL 2013
The Australian Securities and Investments Commission (ASIC) has permanently banned a Bell Potter adviser from providing financial services for dishonest conduct.

ATO to clamp down on multinationals and trusts

MARK SMITH  |  TUESDAY, 16 JUL 2013
The Australian Taxation Office (ATO) will increase it audits and risk reviews on multinational companies and trusts as part of a strategy to combat tax crime and profit shifting to overseas havens.

US delays tax avoidance law by 6 months

MARK SMITH  |  MONDAY, 15 JUL 2013
The US Treasury Department has postponed a new law designed to crack down on offshore tax avoidance by US citizens by six months.

US regulator lifts hedge fund advertising ban

MARK SMITH  |  FRIDAY, 12 JUL 2013
The US regulator has lifted a ban, allowing hedge funds to advertise to the general public for the first time in 80 years.

ASIC finalises OTC derivatives reporting rules

MARK SMITH  |  FRIDAY, 12 JUL 2013
The Australian Securities and Investments Commission (ASIC) has issued its final rules around over-the-counter (OTC) derivatives trade reporting for financial institutions.

ASIC slaps permanent ban on insurance claim manager

MARK SMITH  |  WEDNESDAY, 10 JUL 2013
ASIC has permanently banned a Victorian insurance claims manager from providing financial services after an investigation found he fraudulently pocketed more than $1 million.

ASIC winds up insolvent derivatives issuer

MARK SMITH  |  TUESDAY, 9 JUL 2013
The Australian Securities and Investments Commission (ASIC) has obtained orders in the Federal Court to wind up Sydney-based derivatives issuer Apex Derivatives.

ASIC to focus on analyst briefings

LAURA MILLAN  |  MONDAY, 8 JUL 2013
The Australian Securities and Investments Committee (ASIC) will be focusing on communications between the companies and the investment analysts that cover their stock as part of a surveillance program.

Adviser uses dead people to earn commission

JAMES FERNYHOUGH  |  FRIDAY, 5 JUL 2013
The Australian Securities and Investments Commission (ASIC) has permanently banned a Sydney financial adviser for using the names of dead and non-existent people to earn commissions on insurance applications.