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Financial planners may be considered professionals, but there’s no national exam to put them through their paces. Shutterstock

Why we still don’t expect financial planners to sit an exam

While financial planning is on the pathway to professionalism, its education standards continue to be the subject of much discussion – and for good reason. The current standards set by ASIC mandate a comparatively…
There is evidence Australia’s bank bill swap rate was manipulated: so what now for regulators? AAP/Dan Peled

Years on, ASIC still grappling with swap rate fixing scandal

The wheels of justice grind exceedingly slow and nowhere slower than in the Sydney headquarters of the Australian Securities and Investments Commission (ASIC). A recent report appears to show that ASIC…
Senator Jacqui Lambie has voted against changes to the Future of Financial Advice reforms. Alan Porritt/AAP

FOFA fiasco: no quick fix for the advice industry

Last week brought the latest instalment in the continuing Australian financial planning industry saga. Senators Jacqui Lambie and Ricky Muir blocked the Abbott government’s rollback of some of Labor’s…
A national financial planning register is unlikely to prevent future scandals similar to those of the Commonwealth Bank. AAP

National financial planning register will just list problem, not solve it

Under changes proposed by the government, financial planners will be required to register with the Australian Securities and Investment Commission from next March. They will need to provide details of…
The performance of ASIC in regulating financial fraud remains under question, despite Chairman Greg Medcraft’s recanted statement that Australia is a “paradise” for white-collar criminals. Britta Campion/AAP

Do the crime, do the time? Not if you’re a banker in Australia

Recently, the head of the Australian Securities and Investments Commission, Greg Medcraft, called Australia a “paradise” for white-collar criminals. Soon after he recanted, claiming he didn’t want the…
Screen shot at PM.

Infographic: insider trading in Australia

The typical insider trader is male, aged between 30 and 49, and holds a company director position, according to a new study from researchers at the University of Melbourne. The study analysed all insider…
Woolworths' attempt to takeover David Jones has raised questions about whether shareholder approval should be mandatory. Dan Himbrechts/AAP

Takeovers should require go-ahead from shareholders

The fastest growing sector in the economy today is not mining, retailing or even education. It’s superannuation, which accounts for almost 30% more than the total savings held by the banking and mutual…
The spotlight is on the David Murray’s Financial System inquiry following a report critical of the Commonwealth Bank and Australia’s corporate regulator. AAP/Joel Carrett

No Royal Commission; but banks not too big to be held to account

The Senate inquiry in the actions of the Commonwealth Bank and the Australian Securities and Investment Commission has drawn a line in the sand, holding the banks and financial advisers to account for…
The Commonwealth Bank and ASIC may face a Royal Commission. AAP/Dan Peled

Call for Commonwealth Bank, ASIC to face Royal Commission

A senate inquiry has called for the Commonwealth Bank (CBA) and Australia’s corporate regulator, the Australian Securities and Investments Commission (ASIC), to be investigated by a Royal Commission. The…

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