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Regulatory

Fin services escapes consumer law reform

ALEX DUNNIN  |  TUESDAY, 17 FEB 2009
While the government is expected to today announce major reforms to national consumer laws, the financial services sector will continue to be exempt from progressive consumer protections.

Inactive account reforms not working: CHOICE

ALEX DUNNIN  |  FRIDAY, 6 FEB 2009
Reforms designed to help address the problem of too many inactive super fund accounts aren't working, said the peak consumer advocacy group CHOICE.

Small businesses to get two-year SG relief

MICHAEL HOBBS  |  THURSDAY, 5 FEB 2009
The Opposition is calling on the government to help small businesses by paying a portion of the Superannuation Guarantee obligations on behalf of small employers for the next two years, under a proposal announced yesterday.

ASIC blocks $2m Storm bonus

MEDIA RELEASE  |  THURSDAY, 5 FEB 2009
The Australian Securities and Investments Commission (ASIC) has obtained a court order preventing a payment of $2 million from Storm Financial to a bank account in which is held by Emmanuel and Julie Cassimatis.

Double Bay brokers banned

MICHAEL HOBBS  |  WEDNESDAY, 4 FEB 2009
The Australian Securities and Investments Commission (ASIC) banned Double Bay - based Phillip Dryer and Colin Littlemore from providing financial services for four years after the regulator found they were operating without a licence.

Tax bonus triggers more co-contribution

MICHELLE BALTAZAR  |  WEDNESDAY, 4 FEB 2009
The Federal Government's $950 tax bonus payment could end up costing the Government up to $2,375 per taxpayer, said Adrian Raftery, accountantsRus chief executive.

Sherry's to-do list for 2009

RUTH LIEW  |  FRIDAY, 30 JAN 2009
Senator Nick Sherry yesterday unveilled his top priorities for 2009, which includes a strong focus on short selling regulation, margin loans and credit rating agencies.

APRA fund level reporting proposals dangerous

ALEX DUNNIN  |  FRIDAY, 30 JAN 2009
The Investment and Financial Services Association has rejected the APRA proposals for how the regulator should disclose fund returns to consumers.

Local super funds welcome Obama admin move

MICHAEL HOBBS  |  TUESDAY, 27 JAN 2009
A local industry body representing $450 billion of super fund assets comments on the likely impact of stricter governance of the US finance sector, following reports that the Obama administration will soon impose tighter rules on credit default swaps ...

ASIC extends short selling ban till March

MICHAEL HOBBS  |  THURSDAY, 22 JAN 2009
ASIC has extended the ban on covered short selling of financial stocks until 6 March, opposing the move of its UK counterpart FSA, which lifted its shorting ban last week.