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Regulatory

ASIC to accept submissions for 'hedge fund' definition

LAURA MILLAN  |  THURSDAY, 23 MAY 2013
The Australian Securities and Investments Commission (ASIC) will consider submissions from the industry in order to refine the definition of 'hedge fund'.

Govt loses, then wins vote on super legislation

MARK SMITH  |  THURSDAY, 16 MAY 2013
The House of Representatives voted in favour of Opposition amendments designed to ensure at least a third of super fund trustees have to be independent before the government regrouped to rule out the amendment.

Budget 2013-14 wrap up

ALEX DUNNIN  |  WEDNESDAY, 15 MAY 2013
The 2013-14 federal budget was announced last night and while there were few surprises for the superannuation and wealth management sector, there were however a few new proposals.

Confusion reigns over financial literacy

ALEX DUNNIN  |  THURSDAY, 9 MAY 2013
Despite the focus on financial literacy by regulators, Australian school curriculum designers and financial services firms, there is still no agreed definition of what it is and how to measure it, reveals the Australian Securities and Investment Commission ...

Basel III to see banks focus on longer-term depositors

MARK SMITH  |  THURSDAY, 2 MAY 2013
The requirement to match assets and liabilities under new regulatory proposals will see Australian banks move to a model where customers owning more products, according to ING DIRECT's executive director distribution Lisa Claes.

ASIC raises red flag on capital protected products

LAURA MILLAN  |  THURSDAY, 2 MAY 2013
The Australian Securities and Investments Commission (ASIC) has zeroed in on the labelling of unlisted retail structured products that are being promoted as having "capital protection" or a "capital guarantee".

APX given green light

MARK SMITH  |  TUESDAY, 30 APR 2013
The Government has approved variations to the Asia Pacific Exchange Limited (APX) market licence, integrity and operating rules and compensation arrangements, Minister for Financial Services and Superannuation, Bill Shorten and the Parliamentary Secretary ...

New framework to improve company reporting

LAURA MILLAN  |  TUESDAY, 16 APR 2013
The International Integrated Reporting Council (IIRC) has launched the consultation draft of a new Integrated Reporting Framework (IRF) aimed at improving company reporting.

ASIC targets SMSF confidence tricksters

MARK SMITH  |  THURSDAY, 11 APR 2013
The Australian Securities and Investment Commission (ASIC) will target 'unscrupulous' advisers trying to make quick money of the fast-growing self-managed superannuation fund (SMSF) industry.

Over regulation delays global recovery

MARK SMITH  |  MONDAY, 8 APR 2013
Increased regulation of global financial institutions is preventing the recovery from taking root, according to a new report from Standard Life Investments (SLI).