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Regulatory

Judgment reserved for accused Ponzi head

MELANIE TIMBRELL  |  MONDAY, 17 SEP 2012
The New South Wales Supreme Court has reserved its judgment in the long-running case against New Zealand businessman David Hobbs, who stands accused of heading a US$42 million Ponzi scheme.

Treasury paper ignores responsibility: ACFS

MELANIE TIMBRELL  |  MONDAY, 17 SEP 2012
Recently released proposals to increase the power of the prudential regulator have failed to address the issue of accountability and performance appraisal.

CBA proffers Storm settlement

BEN COLLINS  |  MONDAY, 17 SEP 2012
More money is available for victims of the Storm Financial collapse, after the Commonwealth Bank of Australia (CBA) and ASIC reached a settlement agreement.

Break ASX clearing monopoly: Chi-X

LINDA HAUSKEN  |  MONDAY, 20 AUG 2012
The Chi-X wants the ASX to give up control of its current monopoly of clearing and settlement, claiming it will place downward pressure on prices and lead to improved service delivery.

Lion Adv cancelled/Hickie banned

LINDA HAUSKEN  |  FRIDAY, 17 AUG 2012
ASIC has revoked the AFS license of Lion Advantage and banned the financial service organisation's chief executive David Hickie for two years, following a surveillance of the business.

ASIC issues crowd funding guidance

LINDA HAUSKEN  |  WEDNESDAY, 15 AUG 2012
The Australian Securities & Investments Commission has issued guidance to promoters of 'crowd funding' to clarify arrangements that may be regulated under the Corporations Act and the ASIC Act.

Storm's victims counselled against settlement

BEN COLLINS  |  WEDNESDAY, 15 AUG 2012
Stewart Levitt, the lawyer representing victims of the failed Storm Financial Group has advised clients not to accept an out-of-court settlement, should one be offered.

ASIC targets securities dealers

MELANIE TIMBRELL  |  TUESDAY, 14 AUG 2012
The Australian Securities and Investments Commission is honing in on securities dealers after discovering evidence of insufficient steps to ensure clients receive appropriate advice.

ASIC calls for kill-switch

MELANIE TIMBRELL  |  TUESDAY, 14 AUG 2012
ASIC has called for brokers to have direct control over filters and automated controls to suspend HFT orders and/or systems in the wake of US trading firm Knight Capital's disaster earlier this month.

ASIC unveils primary school teaching package

ALEX DUNNIN  |  MONDAY, 13 AUG 2012
The Australian Securities and Investments Commission (ASIC) have integrated aspects of its MoneySmart financial literacy resources into a school teacher-friendly package designed for primary school teachers.