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Regulatory

FSA changes practices after Northern Rock

MICHAEL HOBBS  |  FRIDAY, 28 MAR 2008
The UK based Financial Services Authority (FSA) has overhauled its staffing and reviewing methods after an internal investigation found it failed to properly review Northern Rock's liquidity crisis.

ASIC investigates Opes Prime

MICHAEL HOBBS  |  FRIDAY, 28 MAR 2008
Opes Prime Stockbroking is under investigation by the Australian Securities and Investments Commission (ASIC) after the firm found a number of cash and stock movement irregularities in a small number of accounts.

Sherry overhauls award system

RUTH LIEW  |  THURSDAY, 20 MAR 2008
The Minister for Superannuation and Corporate Law Nick Sherry is looking to modernise the country's award system, including superannuation, to boost Australians' financial safety nets.

FHSA tops govt agenda

MICHAEL HOBBS  |  MONDAY, 3 MAR 2008
The federal government's Working Group has tabled its first session to discuss the development of a short form disclosure document for the First Home Saver Account.

Dinosaur fund taxes should be scrapped: Bowen

RUTH LIEW  |  MONDAY, 25 FEB 2008
Australia's managed funds industry may soon undergo a major tax revamp as Assistant Treasurer Chris Bowen calls for the Board of Taxation to review taxation arrangements applying to the sector.

AWU campaigns for opt-in super

The Australian Workers' Union national secretary Paul Howes has called on the Federal Government to allow Australian voters the option to direct their tax cuts into their super fund.

Fed govt tightens foreign investment rules

MICHAEL HOBBS  |  TUESDAY, 19 FEB 2008
The federal government has outlined a set of principles which screens foreign investments into Australia to ensure future investment projects are in line with the country's national interest.

SMSFs under microscope

MICHAEL HOBBS  |  MONDAY, 18 FEB 2008
The federal government is consulting superannuation industry bodies to ensure self managed superannuation fund (SMSF) operators understand their responsibilities.

Govt extends tax exemptions for terminally ill

MICHAEL HOBBS  |  FRIDAY, 15 FEB 2008
The Federal Government has extended the superannuation tax exemption given to terminally ill Australians from the previous date of 12 September to the earlier date of 1 July 2007.

Cut super tax, boost co-contribution

RUTH LIEW  |  WEDNESDAY, 23 JAN 2008
The government's 15 per cent contributions tax on superannuation guarantee payments should be reduced and the co-contribution policy revamped to boost national saving levels, suggests two major finance industry bodies.