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Regulatory

PJC: Government needs to re-think payday reforms

RACHEL DAVIS  |  MONDAY, 5 DEC 2011
The Government's proposed reforms aimed at tightening controls over payday lenders need to be reassessed, the Joint Committee on Corporations and Financial Services has found.

ASIC achieves settlement for Westpoint investors

CLAIRE MCGREAL  |  MONDAY, 5 DEC 2011
A group of investors in the failed Westpoint Group stand to receive over $1.39 million in compensation in a settlement reached by ASIC against Queensland firm Strategic Joint Partners.

Melbourne director gets jail sentence

CLAIRE MCGREAL  |  THURSDAY, 1 DEC 2011
A former Melbourne company director has been sentenced to a total of three years and two months behind bars on charges which include insolvent trading and theft.

Gold Coast scam sees 20 investors lose $250,000

CLAIRE MCGREAL  |  MONDAY, 28 NOV 2011
ASIC has obtained continued interim court orders against a Gold Coast unlicensed financial services firm in the wake of a scam that has so far seen investors lose around $250,000.

ASIC cancels two financial services licences

CLAIRE MCGREAL  |  FRIDAY, 25 NOV 2011
ASIC is continuing its crackdown of the financial services industry with the cancellation of two more licences.

ASIC imposes permanent ban on fin services provider

ELISE BURGESS  |  WEDNESDAY, 23 NOV 2011
George Stephen Hawa, previously found guilty of serious fraud and sentenced to serve time in prison, has also been permanently banned from providing financial services by ASIC.

Insto tax phase down deferred one year

ELISE BURGESS  |  WEDNESDAY, 23 NOV 2011
Assistant Treasurer Bill Shorten has announced a one year deferral of its phase down of interest withholding tax, paid primarily by financial institutions as announced in the 2010-11 Budget, thanks to the MRRT.

Volcker Rule dramatics continue

ALEX DUNNIN  |  WEDNESDAY, 23 NOV 2011
The Volcker rule intended to be help protect banks from future failure is being torn between critics who think it will gut the US corporate bond market and Congressmen who think it still contains too many loopholes.

Abbott: Coalition will not vote for SG but won't rescind it

RACHEL DAVIS  |  FRIDAY, 18 NOV 2011
Opposition leader, Tony Abbott, has made his position clear on the proposed rise in the superannuation guarantee to 12%.

ACCC gives CBA Count acquisition the go-ahead

CLAIRE MCGREAL  |  FRIDAY, 18 NOV 2011
Shareholders at Count Financial Limited will meet in Sydney next week to discuss the schemes of arrangement required for Commonwealth Bank's takeover of the firm.