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Regulatory

Court convicts unlicensed Westpoint planner

PRESS RELEASE  |  MONDAY, 20 APR 2009
A New South Wales court has sentenced, Keith Rowntree, to 80 hours community service for providing financial advice, which led to clients investing in Westpoint products, without a licence.

ATO relays transitional rules concerns

MICHAEL HOBBS  |  FRIDAY, 17 APR 2009
The Australian Tax Office (ATO) is warning accountants and self managed super fund (SMSF) trustees to be wary of promotions that advertise selling an inactive pre-1999 SMSF with a related trust.

Stakes rising fast at anti-adviser Parlie inquiry

ALEX DUNNIN  |  WEDNESDAY, 15 APR 2009
The Parliamentary Inquiry into financial advice is quickly shaping up into the high stakes game it was always expected to become as of the 19 submissions received so far not one has anything positive to say about how advice operates in Australia or is ...

China caps executive pay

ALEX DUNNIN  |  TUESDAY, 14 APR 2009
Developed world economies looking for China to buy their bonds and save their economies could also look to the Asian tiger to solve the problem of excessive executive pay.

APRA not interested in exec pay levels

ALEX DUNNIN  |  THURSDAY, 9 APR 2009
The prudential regulator, APRA, is interested in how remuneration packages are structured, not how big they are.

Westpac account promotion misleading

WWW.THESHEET.COM  |  MONDAY, 30 MAR 2009
The Australian Securities and Investments commission has taken its first scalp in its campaign against misleading advertising of banking products.

Storm enters liquidation

MEDIA RELEASES  |  FRIDAY, 27 MAR 2009
Worrells Solvency and Forensic Accountants starts the process of recovering money on behalf of Storm Financial creditors after the Federal Court placed the firm into liquidation.

ASIC bans Macquarie rumourmonger

MEDIA RELEASE  |  TUESDAY, 24 MAR 2009
The Australian Investments and Securities Commission (ASIC) has banned Richard Macphillamy from providing financial services for 18 months after he spread false rumours about Macquarie Group and one of the firm's products.

Opposition slams govt short selling claims

MICHAEL HOBBS  |  TUESDAY, 24 MAR 2009
The opposition has refuted Senator Nick Sherry's claim that the government action on short selling is in-line with the International Organisation of Securities Commissions (IOSCO) report, declaring the government misrepresented the report.

ASIC seeks Storm liquidation

PRESS RELEASE  |  THURSDAY, 19 MAR 2009
The Australian Securities and Investments Commission (ASIC) has applied to place Storm Financial into liquidation after the firm's former directors posted a "misleading" memorandum on their website.