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Regulatory

Advisers have 30 days to issue SoA

HAMISH MADDEN  |  TUESDAY, 19 JUN 2007
The Australian Securities and Investments Commission (ASIC) has extended the period in which an adviser can provide a Statement of Adive (SoA) from five to 30 days to cope with the frenzy of activity around the new super rules.

Shorting no longer needs a tick: SEC

CHRIS NICHOLLS  |  FRIDAY, 15 JUN 2007
In an historic decision, the US Securities and Exchange Commission (SEC) yesterday voted 5-0 to remove an almost 70-year-old rule that banned investors from shorting stocks while the price was still falling.

Professionals must have an ethical code: CFA Institute

ALEX DUNNIN  |  THURSDAY, 14 JUN 2007
The Chartered Financial Analyst Institute (CFA), now 90,000 strong across 55 countries, said the key to its success over the last six decades is its sharp focus on professional ethics rather than just technical education.

No special rules needed for PE: FSA

ALEX DUNNIN  |  WEDNESDAY, 13 JUN 2007
In a pointer to where the Senate Inquiry into private equity will most likely head, the UK Financial Services Authority (FSA) has issued a statement about how it intends to regulate private equity - collect more statistics, hold yet more inquiries but ...

Regulation of private equity unlikely to change

Regulation of private equity firms is unlikely to change, Jeremy Cooper, deputy chair of the Australian Securities and Investments Commission, told an industry conference this week.

Senate C'tee rebuffs calls to lower foreign withholding tax

ALEX DUNNIN  |  THURSDAY, 7 JUN 2007
Just as the Investment and Financial Services Association (IFSA) has released a study arguing our local funds management industry could be a major export earner, the Senate Economics Committee has rejected industry lobbying that foreign investor withholding ...

Lower foreign withholding tax will boost Australia: IFSA

ALEX DUNNIN  |  WEDNESDAY, 6 JUN 2007
Advocates campaigning for why Australia should lower the foreign investor withholding tax have for the first time started explaining how the improved tax rate would boost our local investment industry and help Australia develop its ability to compete ...

Opposition mounts to Finsia education sale

HAMISH MADDEN  |  WEDNESDAY, 6 JUN 2007
The proposed sale of the Financial Services Institute of Australia's (Finsia) education business to Kaplan is far from a foregone conclusion, according to some practitioners and members.

ASIC watching reverse mortgage materials

HAMISH MADDEN  |  TUESDAY, 5 JUN 2007
The Australian Securities and Investments Commission (ASIC) has called on reverse mortgage brokers to ensure advertising and promotional material is clear and not likely to mislead after citing five cases of problematic marketing.

Chilean pension system faces reform

ALEX DUNNIN  |  THURSDAY, 31 MAY 2007
Low returns, the prospect of lower than expected retirement incomes and undercoverage among the poor and self-employed is forcing the Chilean Government to review its compulsory system.