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Regulatory

Advisers urged to keep up pressure on FOFA change

CLAIRE MCGREAL  |  FRIDAY, 16 MAR 2012
As the dust settles on yesterday's FOFA start date announcement, the financial planning industry has pledged to keep pushing for changes to elements of the planned legislation.

AAT confirms ASIC planner ban

ELISE BURGESS  |  FRIDAY, 16 MAR 2012
The Administrative Appeals Tribunal has agreed with ASIC's decision to ban former Commonwealth Financial Planner Don Nguyen from providing financial services for seven years.

Senate committee gives FOFA green light

MELANIE TIMBRELL  |  THURSDAY, 15 MAR 2012
The Senate Economics Legislation Committee has released its report on the future of financial advice bill recommending passage subject to nine recommendations.

ETP growth attracts IOSCO concerns

ALEX DUNNIN  |  THURSDAY, 15 MAR 2012
Rapid growth in Exchange Traded Products and growing concern about new synthetic variants has prompted international financial regulators to issue a discussion paper on whether and how the sector should be regulated.

ASIC tackles platform industry

CLAIRE MCGREAL  |  TUESDAY, 13 MAR 2012
ASIC is set to review its regulatory approach to platforms as part of its broader shake-up of the financial services industry.

APRA calls for risk-consistent exec pay

MELANIE TIMBRELL  |  MONDAY, 12 MAR 2012
Remuneration practices ill aligned to risk management objectives will be of primary interest to the regulator, as APRA implements its standards on executive remuneration.

Former Stonebridge broker banned for three years

RACHEL DAVIS  |  MONDAY, 12 MAR 2012
ASIC has banned Pawel Kulisiewicz, of Pyrmont in New South Wales, from providing financial services for three years.

Australian Capital Reserve directors sentenced

CLAIRE MCGREAL  |  FRIDAY, 9 MAR 2012
The former directors of Australian Capital Reserve have been given prison sentences on ASIC charges of false or misleading statements in the company's accounts and a prospectus.

Trustee Corporations Association members join FSC

RACHEL DAVIS  |  FRIDAY, 9 MAR 2012
The Trustee Corporations Association of Australia is formally disbanding, with its members joining the Financial Services Council.

Second exposure draft on IMR laws released

MELANIE TIMBRELL  |  THURSDAY, 8 MAR 2012
A revised draft of the Investment Manager Regime legislation has been released, following stakeholder feedback on the initial proposals designed to alleviate perceived tax disincentives on foreign managed funds investing in Australia.