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Regulatory

IOSCO warns against structured products

ALEX DUNNIN  |  MONDAY, 3 AUG 2009
A major review into the causes of the sub-prime crisis has been released and its key message is that if fiduciaries don't understand structured products, they should not invest in them.

APRA recovers super assets

COMPANY RELEASE  |  FRIDAY, 31 JUL 2009
The Australian Prudential Regulation Authority (APRA) has successfully recovered the assets of failed South Australian based Harts Australia Staff Superannuation Fund.

Super still a great investment despite impact of GFC: Bowen

ALEX DUNNIN  |  WEDNESDAY, 29 JUL 2009
Despite disappointing short term returns due to the impact of the GFC on world markets, superannuation is still a very important investment opportunity, said Chris Bowen, minister for financial services, superannuation and corporate law.

The market's next 800-pound gorilla

MICHELLE BALTAZAR  |  TUESDAY, 21 JUL 2009
Shadow Treasurer Joe Hockey said the Government is creating an "800-pound gorilla" in the market that could drive up the cost of financing for the private sector over the next few years - particularly if more government bonds are issued to fund its budget ...

Prescriptive regulation is not the answer: Tanner

MICHAEL HOBBS  |  TUESDAY, 14 JUL 2009
Future financial services regulation should be flexible to deal with new problems as they arise but not invasive or prescriptive, said Lindsay Tanner, minister for finance and deregulation.

ASIC charts margin lending requirements

MICHAEL HOBBS  |  TUESDAY, 14 JUL 2009
The regulator has released two proposals on the training conditions for financial advisers and requirements for firms dealing in margin lending products.

ASIC bans Firepower adviser

ASIC RELEASE  |  FRIDAY, 10 JUL 2009
ASIC has banned another adviser Quentin Ward from providing financial services for eight years after an investigation into his involvement in Firepower investments.

Flawed fund analysis demands new metric: Study

ALEX DUNNIN  |  MONDAY, 6 JUL 2009
Flawed super fund performance analysis leading to a type of market failure necessitates development of a new 'whole of fund' metric that investors can use to better compare super funds, argue APRA analysts in a recently released research paper.

Shift to altern assets fuel valuation concerns: APRA

ALEX DUNNIN  |  FRIDAY, 3 JUL 2009
Rising levels of alternative assets has exacerbated concerns over valuation policies for unlisted assets, according to APRA's latest Insight report.

AUSTRAC to probe anti-money laundering breaches

MICHAEL HOBBS  |  THURSDAY, 2 JUL 2009
The Australian Transaction Reports and Analysis Centre (AUSTRAC) has accepted enforceable undertakings from Barclays Bank PLC and Mega International Commercial Bank Co for breaching anti-money laundering and counter terrorism laws.