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Regulatory

Tax breaks no enough: seniors

MICHAEL HOBBS  |  FRIDAY, 22 JAN 2010
It would take more than tax breaks to help baby boomers stay in the workforce beyond the average retirement age, argues an industry body.

CPRS chaos poses big risks for fin services

ALEX DUNNIN  |  FRIDAY, 27 NOV 2009
The Liberal Party political implosion, if it leads to a double dissolution election, is not just about the Carbon Pollution Reduction Scheme but could also change the course of financial services reforms.

Planners brace for fiduciary revolution

ALEX DUNNIN  |  TUESDAY, 24 NOV 2009
The financial planning industry's worst nightmare is about to come true with the Ripoll Report recommending advisers become fiduciaries, payments from product providers to planners should cease and that ASIC significantly step up its shadow shopping ...

ASIC outlines credit agency requirements

COMPANY RELEASE  |  FRIDAY, 13 NOV 2009
Local credit rating agencies must hold an Australian Financial Services (AFS) licence, properly manage conflicts of interest that arise and ensure employees are adequately trained from January next year following regulatory changes.

Cooper stalls APRA data review

ALEX DUNNIN  |  TUESDAY, 10 NOV 2009
The launch of the Cooper Review has done what 18 months of lobbying by retail interest groups and dozens of academic and rebuttal papers couldn't - it forced a halt to APRA's review of its superannuation statistics.

Years of living dangerously

MICHELLE BALTAZAR  |  MONDAY, 9 NOV 2009
Australians earning $60,000 a year or less could be forced to live on half that income when they retire, if the Government makes changes to super that "unintentionally" disadvantages low to middle-income earners.

PE managers should not mislead: IOSCO

ALEX DUNNIN  |  WEDNESDAY, 4 NOV 2009
In one of the more bizarre regulatory releases since the GFC, global regulatory group IOSCO has issued a report outlining guidelines for private equity managers stating that they should be honest and always act in their clients best interests.

ASIC takes MFS Group to court

COMPANY RELEASE  |  MONDAY, 2 NOV 2009
The regulator has started civil proceedings against the former executives and officers of MFS Group and its three subsidiaries for alleged transactions that breached responsible entity laws.

Fund calculator rules to be relaxed

ALEX DUNNIN  |  THURSDAY, 22 OCT 2009
ASIC has proposed a relaxation of the advice rules around superannuation benefit calculators for super funds, allowing them to more easily give their members indications about whether their super savings are on track.

Centro execs to face tough penalties

MICHAEL HOBBS  |  WEDNESDAY, 21 OCT 2009
The regulator has launched proceedings against the chair, chief executive, chief financial officer and five other directors of entities within Centro Properties Group and Centro Retail Group for misleading accounting practices.