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Regulatory

No time for FOFA impact statement: OBPR

MELANIE TIMBRELL  |  WEDNESDAY, 15 FEB 2012
The Office of Best Practice Regulation has said time pressures prevented an adequate regulatory impact statement being prepared on six elements of the FOFA legislation.

ASIC to take hard line on deliberately misleading ads

CLAIRE MCGREAL  |  WEDNESDAY, 15 FEB 2012
ASIC is set to clamp down on misleading advertisments for financial products and services as part of its continued shake up of the financial services system.

ASIC brings criminal charges against SMSF adviser

CLAIRE MCGREAL  |  WEDNESDAY, 15 FEB 2012
A New South Wales SMSF adviser has appeared in court, charged with obtaining money by deception and of making a false or misleading statement to ASIC.

Super tax subsidies don't favour the rich: Mercer

ALEX DUNNIN  |  TUESDAY, 14 FEB 2012
Mercer has released a research paper that dismisses claims retirement income funding through superannuation tax concessions favours the wealthy.

Astarra auditor banned for three years

ELISE BURGESS  |  FRIDAY, 10 FEB 2012
Astarra Strategic Fund auditor, Timothy Frazer, is prevented from auditing companies for three years, after ASIC accepted an enforceable undertaking that he would not act as a registered company auditor during that time.

HFT and dark pools keep ASIC on its toes

MELANIE TIMBRELL  |  TUESDAY, 7 FEB 2012
High frequency trading and dark pools are the biggest issues of contention in the Australian Securities and Investment Commission's extended consultation process on market integrity rules, according to one industry expert.

ASIC charges against new wave of boiler room scams

ELISE BURGESS  |  MONDAY, 6 FEB 2012
ASIC has warned of the rising number of 'boiler room' investment scams after obtaining Supreme Court orders against one financial planning firm accused of defrauding 36 investors in excess of $350,000.

Call for new generation annuities

ELISE BURGESS  |  FRIDAY, 3 FEB 2012
The Actuaries Institute has called for tax disincentives to be removed from proposed deferred lifetime annuity products, along with the development of a new generation of annuities in its pre-budget submission to the Federal Government.

ASIC continues Trio crackdown

CLAIRE MCGREAL  |  THURSDAY, 2 FEB 2012
The investigation into the collapse of failed fund manager Trio Capital continues, with the banning of another figure with ties to the firm.

Australia Day honours for industry leaders

RACHEL DAVIS  |  FRIDAY, 27 JAN 2012
Leading industry figures John Gall and Fergus Ryan were among those honoured in yesterday's Australia Day celebrations for their contributions to the banking and finance industries.