regulation

Features

What has driven the exponential growth in regulatory costs?

Mike Taylor writes that if one thing has distinguished the past five years in the financial services it has been the exponential growth in regulatory and compliance costs...

Editorial

Regulating at whose cost and benefit?

Recent history has proved that creating more layers of regulation rarely represents a panacea for problematic industries, yet the financial services is being made to pay ...

Financial planning

Planners face tough distribution rules

The latest draft of the Government’s new legislation covering financial product design and distribution rules have confirmed the heavy obligations which will be carried b...

Policy & Regulation

ASIC throws remuneration into intervention mix

The Australian Securities and Investments Commission has canvassed its product intervention power being extended to identifying inappropriate remuneration structures....

Policy & Regulation

Phoenix Hotline will oust dodgy directors

The Government has established a Phoenix Hotline to combat the phoenixing activity of dishonest directors and their companies. ...

Policy & Regulation

Planner pleads guilty to vote-rigging

Wodonga financial planner Neil John Evans pleads guilty to vote-rigging in the director elections for WAW Credit Union Co-Operative....

Policy & Regulation

Fed Court approves CBA’s BBSW settlement

The Federal Court has approved the Commonwealth Bank’s $25 million settlement with the Australian Securities and Investments Commission regarding the Bank Bill Swap Rate....

Features

Who will guard the guards?

The Australian Securities and Investments Commission has been the frequent subject of demands for greater scrutiny of the regulators themselves. As Hannah Wootton writes,...

Financial planning

Westpac offers thin response to ASIC charges

Westpac has responded to civil charges brought against it by the regulator for poor financial advice by saying that it had already identified and responded to the alleged...

Policy & Regulation

Will the industry get value for its regulatory dollar?

There have been new calls for greater transparency around how the financial services regulators are spending the levies extracted from the industry....

Policy & Regulation

Banks drag heels on breach reporting, until now

Banks and others were taking up to four years to deal with breach reports but the Royal Commission has caused a shake-up, generating a 39 per cent spike....

Policy & Regulation

Citigroup, Deutsche and ANZ hit with cartel charges

Citigroup, Deutsche Bank, ANZ, and a number of their senior executives have been charged with criminal cartel offences, after an investigation by the Australian Competiti...

Policy & Regulation

VOFF alleges ASIC is driven by self-interest

Victims of Financial Fraud have again hit out against the Australian Securities and Investments Commission, this time alleging the regulator looks after itself before “or...

Policy & Regulation

ASIC licensing delays test industry

New analysis from legal firm The Fold points to the dynamics of the financial services industry having changed by Australian Securities and Investments Commission licensi...

Financial planning

VOFF demands Royal Commission recall Medcraft from France

Victims of Financial Fraud has called for Greg Medcraft be recalled from overseas to front the Royal Commission, saying that ASIC “pursue[d] family-owned advisory firms t...