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Regulatory

ASIC cancels South Australian financial services licence

CLAIRE MCGREAL  |  THURSDAY, 17 NOV 2011
ASIC has cancelled the financial service license of Adelaide based firm Mark Power Financial Ltd, along with the license of its responsible manager Mark Raymund Power.

Political debate defers FOFA clarity

CLAIRE MCGREAL  |  THURSDAY, 17 NOV 2011
With only one more round of sitting days currently scheduled for both chambers of parliament, it seems increasingly unlikely that the proposed FOFA legislation will pass through both houses before Christmas.

Research houses in regulatory spotlight

CLAIRE MCGREAL  |  WEDNESDAY, 16 NOV 2011
ASIC has put down proposals to completely separate research houses from their business units to ensure conflicts of interest are properly managed.

ASIC investigations lead to charges, interim orders

CLAIRE MCGREAL  |  TUESDAY, 15 NOV 2011
A Perth stockbroker has pleaded not guilty to more than 10 fraud charges, but guilty to a charge of dishonestly using his position as an employee at his former workplace.

Morgan Stanley slapped with US $1 million fine

CLAIRE MCGREAL  |  MONDAY, 14 NOV 2011
Global financial services giant Morgan Stanley has been hit with a US $1 million fine by the US financial regulator for excessive markups and markdowns on corporate and municipal bonds.

Adviser charged with fraud

ELISE BURGESS  |  THURSDAY, 10 NOV 2011
A former senior adviser at Sydney firm, Noall & Co, faced charges of fraud in court this week following an ASIC investigation.

ASIC: New regulations for responsible entities

ELISE BURGESS  |  TUESDAY, 8 NOV 2011
ASIC has released new financial requirements for responsible entities of managed investment schemes, including minimum capital requirements, in its latest regulatory guide that wants to align entities with investor interests.

ASIC bans authorised representative of Romad Financial Services

CLAIRE MCGREAL  |  TUESDAY, 8 NOV 2011
ASIC's clean-up of the financial services industry is continuing with the banning of a Melbourne-based authorised representative of Romad Financial Services.

Former financial adviser gets three years jail time

CLAIRE MCGREAL  |  MONDAY, 7 NOV 2011
A former Sydney financial adviser has been jailed for three years on six fraud charges.

APRA: Investment world still clouded with uncertainty

CLAIRE MCGREAL  |  MONDAY, 7 NOV 2011
Most superannuation funds earned positive returns at the end of this financial year for the second year in a row, thanks to a recovery in equity markets and higher fixed interest earnings over much of 2010/11. But, warns APRA, there are dangers ahead.