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Regulatory

APRA releases draft prudential standards

LINDA HAUSKEN  |  MONDAY, 30 APR 2012
The Australian Prudential Regulation Authority has released its proposed prudential standards, open to industry response until July 20.

ASIC bans adviser following fraud conviction

BEN COLLINS  |  TUESDAY, 24 APR 2012
The Australian Securities & Investments Commission has permanently banned Christos Papaioannou, also known as Chris Pappas, from providing financial services following his conviction on fraud charges in the Magistrates Court of Victoria.

ASIC obtains order banning derivatives trading director

BEN COLLINS  |  TUESDAY, 24 APR 2012
Australian Securities & Investments Commission action has resulted in Neil William King, formerly of Brighton, Victoria, being removed from the financial services industry for six years.

ASIC permanently bans CFD dealer

BEN COLLINS  |  MONDAY, 23 APR 2012
ASIC has permanently banned a former contracts for difference (CFD) dealer following an investigation.

Market solutions favoured in OTC derivative reform

MELANIE TIMBRELL  |  FRIDAY, 20 APR 2012
The Council of Financial Regulators has recommended a preference for market-led solutions, in part driven by appropriate regulatory incentives to comply with a G20 commitment on OTC derivatives.

ASIC strikes against currency trader

MELANIE TIMBRELL  |  TUESDAY, 3 APR 2012
The Australian Securities and Investments Commission has launched strike-off action against Brisbane-based TRADERS SERVICES, formerly known as Your Trading Room.

Cayman Islands hedge fund reforms on-track

ALEX DUNNIN  |  TUESDAY, 27 MAR 2012
Cayman Islands is extending the deadline for hedge fund operators to register their master funds, showing how delicate the balance is between improving financial regulation in the country, while not driving away hedge fund operators.

APRA calls for dialogue with funds on MySuper

MELANIE TIMBRELL  |  WEDNESDAY, 21 MAR 2012
Superannuation funds thinking about offering a MySuper product should start talking to APRA now, said the regulator, who acknowledged the timeframe was tight, but said there should be "no surprises" when the draft standards are released next month.

ASIC calls for detailed disclosure on holdings of super funds

MELANIE TIMBRELL  |  TUESDAY, 20 MAR 2012
ASIC Chair Greg Medcraft has called on all super funds to provide detailed breakdowns of asset allocation in member statements, saying simply reporting major holdings leaves room for cynicism.

Breach in contrib caps should not be taken for revenue: CPA

MELANIE TIMBRELL  |  FRIDAY, 16 MAR 2012
Speaking at the House of Representatives Committee on Economics inquiry today, Michael Davison, superannuation policy adviser, CPA, warned against using a "sledgehammer for a walnut" by overcomplicating the law for a very small number who purposefully ...