regulation

Policy & Regulation

Federal Court grants ASIC’s orders against Linchpin

The Federal Court has allowed ASIC’s application that Linchpin Capital and Endeavour Securities operated an unregistered managed investment scheme....

Policy & Regulation

Give us more powers, says APRA

The Australian Prudential Regulation Authority (APRA) has told the Productivity Commission it needs more powers and that its lack of powers has inhibited its ability to b...

Policy & Regulation

Less regulation needed for competition: COBA

The Productivity Commission’s competition report shows that “more and more regulation can be harmful to consumers because it weakens competition,” the Customer Owned Bank...

Policy & Regulation

PC recommends ACCC become industry “competition champion”

The Productivity Commission has recommended that the Australian Competition and Consumer Commission take on the role of “competition champion for the financial system”....

Policy & Regulation

ASIC approves ABA Code of Practice

ASIC has approved the Australian Banking Association’s new Banking Code of Practice following an independent review and stakeholder consideration....

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....