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Regulatory

ACSI remands News Corp governance

ELISE BURGESS  |  FRIDAY, 21 OCT 2011
The Australian Council of Superannuation Investors (ACSI) is calling for Australian super funds to protest against members of the News Corp board at its annual general meeting in Los Angeles today if the group's governance does not improve.

Former Sonray chief gets jail time following ASIC charges

CLAIRE MCGREAL  |  MONDAY, 17 OCT 2011
The former head of Sonray Capital Markets has been jailed for five years on 10 charges, which include false accounting involving fake deposits worth over $35 million.

Opus Capital offers EU olive branch to ASIC

ELISE BURGESS  |  FRIDAY, 14 OCT 2011
Opus Capital has offered an enforceable undertaking to ASIC after the rectification of a condition breach of its Australian financial services licence. The regulator has accepted the offer.

Planner banned as watchdog continues industry clean-up

CLAIRE MCGREAL  |  TUESDAY, 11 OCT 2011
ASIC is continuing it's clean up of the financial services sector with the banning of another Sydney based planner.

Tax forum tackles wealth management issues

ELISE BURGESS  |  FRIDAY, 7 OCT 2011
While big ticket items like the GST, Carbon Tax and Mining Tax may not have been up for discussion, there was still plenty to talk about for the wealth management industry as Government heads and industry leaders gathered at the 2011 Tax Forum.

Former company director pleads guilty to dishonest conduct

CLAIRE MCGREAL  |  THURSDAY, 6 OCT 2011
A former Sydney company director faces possible jail time and a hefty fine after pleading guilty to nine charges of dishonest conduct involving investor funds worth more than $1.8 million.

SPAA rallies against off-market trading ban

MATT WOODINGTON  |  TUESDAY, 4 OCT 2011
The self-managed super fund industry is calling on the government to revoke plans to ban off market transfers with particular concern that larger funds are not subject to the same rules.

UK abolishes Default Retirement Age

RACHEL DAVIS  |  TUESDAY, 4 OCT 2011
The Default Retirement Age of 65 has been abolished in the UK, which now prevents employers from making staff redundant on the grounds of age alone.

Government publishes core elements of MySuper draft

MATT WOODINGTON  |  FRIDAY, 30 SEP 2011
The Government has provided a two-week window for submissions on draft legislation on the core elements of MySuper as it presses ahead with plans to introduce the default super product from July 2013.

Government confirms ban on commissions

MATT WOODINGTON  |  THURSDAY, 29 SEP 2011
The Government's release of the second tranche of its Future of Financial Advice Reforms has provided few surprises, reinforcing plans to ban conflicted remunerations and soft dollar arrangements.