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Regulatory

FX trader guilty of $360k fraud

ASIC RELEASE  |  TUESDAY, 12 MAY 2009
Brisbane-based resident Brett Tony Best has pleaded guilty to running an illegal managed investment scheme (MIS), which enabled him to dupe more than 200 south-east Queenslanders out of $360,000 in funds.

What-if scenarios bring Budget blues

MICHELLE BALTAZAR  |  MONDAY, 11 MAY 2009
New restrictions to existing superannuation and tax concessions could help the Government slash the predicted budget deficit in the next few years but this could come at a higher cost to superannuants and taxpayers in the long term, industry experts ...

ESG a fiduciary duty: Sherry

ALEX DUNNIN  |  THURSDAY, 7 MAY 2009
Trustees have a fiduciary duty to take long term factors, including ESG considerations, into account when selecting and managing investments, said Senator Nick Sherry.

CGT roll-over relief for super mergers

MEDIA RELEASE  |  MONDAY, 4 MAY 2009
The Federal Government is expanding the optional capital gains tax (CGT) roll-over for capital losses for mergers of complying superannuation funds.

UK budget cuts HNW pension relief

ALEX DUNNIN  |  WEDNESDAY, 29 APR 2009
In a forerunner to what might happen in next month's Federal Budget, the UK government has slashed retirement savings tax rebates for people earning more than A$300,000.

Another day another inquiry

ALEX DUNNIN  |  WEDNESDAY, 29 APR 2009
Senator Nick Sherry has announced another inquiry into the superannuation system that kickstarts what could be the most fundamental review of modern superannuation since its introduction in the mid1980s.

Govt drafts new credit regime

MICHAEL HOBBS  |  TUESDAY, 28 APR 2009
The government has released a draft bill to develop a national credit licensing regime.

Govt lifts financial hardship threshold

WWW.THESHEET.COM  |  MONDAY, 27 APR 2009
National consumer credit laws will adopt a higher threshold at which lenders are obliged to formally consider a variation to a loan where a customer cannot pay due to illness, unemployment or other reasonable causes. The government plans to lift the ...

Joint Committee has consumer loans in its sights

WWW.THESHEET.COM  |  TUESDAY, 21 APR 2009
The Parliamentary Joint Committee on Corporations and Financial Services' inquiry into financial products and services will include a review of banking products.

APRA declares hand on unlisted asset valuations

ALEX DUNNIN  |  MONDAY, 20 APR 2009
APRA has unveiled how unlisted assets should be valued in light of the current markets and broke away from tradition when it outlined what it considers as 'bad practice'.