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Regulatory

ASIC freezes $1m investor funds

MICHAEL HOBBS  |  TUESDAY, 16 SEP 2008
The Australian Securities and Investments Commission (ASIC) moves to protect more than $1 million invested in an alleged illegal investment scheme.

ASFA proposes asset classification standards

ALEX DUNNIN  |  TUESDAY, 16 SEP 2008
A background prepared by ASFA has recommended funds and research groups standardise how they classify assets and consider phasing out the terms 'balanced' and 'growth' when labelling their options.

ASIC completes unlisted asset guide

MICHAEL HOBBS  |  THURSDAY, 4 SEP 2008
The Australian Securities and Investments Commission (ASIC) finalised its guidelines to improve disclosure in unlisted mortgage and unlisted property schemes which represent $70 billion in funds under management (FUM).

US and Aus open equities borders

MICHAEL HOBBS  |  TUESDAY, 26 AUG 2008
Local investors are set to benefit from a new agreement between US and Australian regulators that may allow brokers from both regions to only comply with their home country regulation when trading Australian or US equities.

Coalition doesn't support higher SG

ALEX DUNNIN  |  THURSDAY, 21 AUG 2008
Forcing people to put more money into superannuation is not something that sits easily with the Liberal Party's philosophy of freedom of choice, said Shadow Treasurer, Malcolm Turnbull.

Returns stats should show impact of advice

ALEX DUNNIN  |  THURSDAY, 7 AUG 2008
A review of APRA's return on assets (ROA) statistics commissioned by IFSA has recommended the regulator publish actual gross and net fund performance figures so consumers can compare the impact of advice.

Unlicensed adviser charged

MICHAEL HOBBS  |  MONDAY, 4 AUG 2008
New South Wales based Manouchehr Tivay was convicted of providing financial services without a licence and placed on a two year good behaviour bond after an Australian Securities and Investment Commission (ASIC) investigation.

ASIC bans unlicensed Westpoint adviser

MICHAEL HOBBS  |  WEDNESDAY, 30 JUL 2008
The Australian Securities and Investments Commission (ASIC) banned Gold Coast based, Russell Sheppard from providing financial services for eight years after the regulator found he provided unlicensed advice on Westpoint products.

APRA to review super fund stats

MICHELLE BALTAZAR  |  MONDAY, 28 JUL 2008
APRA will consult with industry players on proposals to change the format of its all-important statistics on super fund performance so the public can make more informed choices about who should manage their retirement savings.

NZ rules to target 'simple needs' investors

ALEX DUNNIN  |  FRIDAY, 25 JUL 2008
While the New Zealand commerce minister has welcomed the creation of nationally recognised qualifications for NZ financial planners, she has also outlined her intentions to separate advice regulation for sophisticated versus unsophisticated investors.