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Regulatory

SMSF auditor competency education push

MELANIE TIMBRELL  |  TUESDAY, 26 JUN 2012
Details of the registration regime for auditors working in the SMSF sector, announced this week by superannuation minister Minister Bill Shorten, are broadly been in line with industry expectations although questions still remain around quality assurance.

New accountants' licence hailed as win for affordable advice

MELANIE TIMBRELL  |  MONDAY, 25 JUN 2012
The federal government's new conditional licensing regime for accountants has been applauded by professional bodies as a step to achieving broader access to financial advice.

110 years prison for ex-SIB chief

BEN COLLINS  |  THURSDAY, 21 JUN 2012
In one of the most extreme prison sentences of its type, the former Chairman of Stanford International Bank has been sentenced to 110 years imprisonment in the US for orchestrating a 20-year fraud scheme in which he misappropriated $7 billion.

Centro settlement approved

MELANIE TIMBRELL  |  TUESDAY, 19 JUN 2012
The Federal Court in Melbourne this morning approved the $200 million class-action settlement to more than 5000 Centro investors from Centro and its former auditor, PricewaterhouseCoopers.

ASIC issues short PDS guidance

BEN COLLINS  |  TUESDAY, 19 JUN 2012
The Australian Securities & Investments Commission has issued guidance for issuers of superannuation products and simple managed investment schemes about how to comply with the shorter product disclosure statement regime.

SuperStream passes Lower House

ALEX DUNNIN  |  TUESDAY, 19 JUN 2012
Super Stream legislation passed through the Lower House yesterday but while the government is upbeat, the superannuation industry is still wary.

Equity clearing and settlement discussion paper released

MELANIE TIMBRELL  |  MONDAY, 18 JUN 2012
Treasurer Wayne Swan has announced new consultations on the regulatory framework for competition in the clearing and settlement functions of the Australian equity market.

ASIC winds up unregistered managed investment scheme

BEN COLLINS  |  FRIDAY, 15 JUN 2012
The Australian Securities & Investments Commission has obtained orders in the Supreme Court of New South Wales to wind up an unregistered managed investment scheme operated by Secured Bond Ltd.

ASIC streamlines AFS licence process

LINDA HAUSKEN  |  WEDNESDAY, 13 JUN 2012
The Australian Securities & Investments Commission has updated its Australian financial services licence application process in an effort to cut red tape and make registration and licensing more efficient.

Ponzi scheme operators plead guilty

LINDA HAUSKEN  |  TUESDAY, 12 JUN 2012
Brian Wood and Jimmy Truong have pleaded guilty in the Downing Centre Local Court, in Sydney, to operating a Ponzi scheme called the Integrity Plus Fund.