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Regulatory

Govt leads VC investment

ALEX DUNNIN  |  TUESDAY, 10 APR 2007
The maturing private equity market focusing more on middle and advanced stage investments is causing such a drain on early stage venture capital (VC) investment that the government has been compelled to become a major VC sponsor.

Fincorp lookalike under scrutiny

The Australian Securities and Investments Commission (ASIC) has slapped a 'stop order' on the latest prospectus of Australian Capital Reserve (ACR), another high-yield debenture provider that employs the same aggressive marketing tactics as Fincorp.

IFSA toughens up conflicts and ethics standards

CHRIS NICHOLLS  |  THURSDAY, 5 APR 2007
The Investment and Financial Services Association (IFSA) has released a revised code of ethics and conduct, with a strong focus on conflict of interest, transparency and training of staff.

Govt sweetens tax on property trusts

HAMISH MADDEN  |  WEDNESDAY, 4 APR 2007
The Minister for Revenue and Assistant Treasurer Peter Dutton has announced changes to the tax treatment of property trusts, designed to enhance their international competitiveness.

NZ Govt appoints KiwiSaver defaults

ALEX DUNNIN  |  WEDNESDAY, 4 APR 2007
The New Zealand Government has appointed the six super funds it has chosen as default providers for its KiwiSaver voluntary retirement savings scheme.

Germany lifts retirement age

ALEX DUNNIN  |  TUESDAY, 3 APR 2007
Legislators in the German Bundestag have voted to increase their country's retirement age from 65 to 67 years, overriding huge howls of protest from unions.

Super tops $1 trillion as retail keeps winning inflows race

ALEX DUNNIN  |  FRIDAY, 30 MAR 2007
Australia's superannuation savings pool has climbed to $1 trillion at December 2006 after jumping 19 per cent during the year, said the Australian Prudential Regulation Authority (APRA).

Govt proposes shorter PDS

CHRIS NICHOLLS  |  WEDNESDAY, 28 MAR 2007
The Federal Government has released draft regulations from the Corporations and Financial Services Regulation Review showcasing a simplified corporate and financial services regulatory system, potentially resulting in abbreviated product disclosure statements ...

CPA Australia and SEQUAL team up

HAMISH MADDEN  |  WEDNESDAY, 28 MAR 2007
Accounting body CPA Australia has worked with the Senior Australians Equity Release Association of Lenders (SEQUAL) to develop a new guide for members who are advising clients on reverse mortgages.

AML to redefine dealings with currency clients

ALEX DUNNIN  |  WEDNESDAY, 28 MAR 2007
The looming anti-money laundering (AML) legislation will redefine how service providers deal with clients and their currency transactions and planning for how they should implement the new provisions needs to begin now.