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Regulatory

ACCC chairman withdraws from merger talks

RUTH LIEW  |  WEDNESDAY, 18 AUG 2010
The chairman of the ACCC, Graeme Samuel, has stood aside from the regulator's deliberations on the NAB/AXA merger.

Fin centre plans hang in the balance: Bowen

RUTH LIEW  |  THURSDAY, 12 AUG 2010
As election day looms, the superannuation minister Chris Bowen has savaged the Opposition's lack of support towards establishing an international finance and regulation centre - arguing it will be detrimental to Australia's plans to become a global financial ...

Trustees warned as APRA toughens guidances

ALEX DUNNIN  |  WEDNESDAY, 11 AUG 2010
With the ink hardly dry on the Cooper Report's recommendations for a Trustee Code of Practice, the prudential regulator APRA has released revised trustee guidances on capital structures, risk management, resources adequacy and trustee fitness.

Coalition details stance on commissions

MICHAEL HOBBS  |  THURSDAY, 29 JUL 2010
Luke Hartsuyker, shadow minister for financial services and superannuation, said the Coalition won't dictate how a financial planning client has to pay for advice but said it would not support all types of commission payments.

SEC launches new divisions to protect investors

SEC RELEASES  |  TUESDAY, 20 JUL 2010
US-based Securities and Exchange Commissions has created three specialised corporate finance divisions that will oversee large financial institutions, asset backed securities and structured products.

CFD health check prompts more oversight

MICHAEL HOBBS  |  TUESDAY, 13 JUL 2010
The regulator has stepped up its monitoring of the contract for difference (CFD) market and proposed new measures to improve the market's transparency, following a study that found consumers are still confused about the risks when trading CFDs.

ASX power handover to ASIC heralds new trading rules

PRESS RELEASES  |  FRIDAY, 9 JUL 2010
Starting next month, investors will have to follow a new set of trading rules when regulator ASIC takes over the supervisory role historically held by the local bourse.

SG survives mining tax deal

ALEX DUNNIN, MICHAEL HOBBS  |  FRIDAY, 2 JUL 2010
The government and large miners have negotiated a breakthrough compromise deal on the mining tax that not only keeps the broad structure of the tax in place but saves most of its benefits, especially the SG uplift.

Drunk futures broker banned

FSA RELEASE  |  THURSDAY, 1 JUL 2010
A UK oil futures broker has been banned from the local financial services industry for five years and fined $126,000 for manipulating the market by trading huge volumes of oil contracts after a weekend bender.

Govt extends drawdown relief for account-based pensions

MICHELLE BALTAZAR  |  THURSDAY, 1 JUL 2010
The government has extended the drawdown relief currently provided for account-based superannuation pensions to the 2010-11 year.