Articles on ASIC

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Investors need to know if there is impairment of assets, but research shows firms don’t always disclose all the information they should about this. Dean Lewins/AAP

Companies may be misleading investors by not openly assessing the true value of assets

Managers of well-known Australian companies are misleading investors by taking years to recognise asset impairments and not disclosing that information in financial reporting.
ASIC hopes it will lure fintech startups from Australia and Singapore to its innovation program. www.shutterstock.com

Business Briefing: ASIC tries to prevent fintech startups from becoming scammers

Business Briefing: ASIC tries to prevent fintech startups from becoming scammers.
ASIC is teaming up with its Singaporean counterpart to encourage more fintech startups and dip its toe into the fast moving waters of the digital economy.
Stockbroker Oliver Curtis leaves at lunchtime with his wife Roxy Jacenko at the Supreme Court of New South Wales in Sydney. David Moir/AAP

Insider trading is greedy, not glamorous, and it hurts us all

It doesn't matter how much Oliver Curtis and John Hartman stood to gain from insider trading, what matters is what we all lose from market tampering.
If consumers don’t like the way their mortgage brokers operates, they can shop around. Mick Tsikas/AAP

Mortgage brokers: ASIC goes fishing

The ASIC inquiry into how mortgage brokers are paid won't do much to change an already competitive system.
Westpac Chief Executive Officer Brian Hartzer gave excuses for traders behaviour in regards to the BBSW benchmark. David Moir/AAP

Banking excuses wearing a bit thin

With all the weight of evidence stacked against the banks in the case of BBSW benchmark, surely now is the time for the government to enforce regulation.

Banking regulation – descent into farce

It may be the effect of the election but the regulation of banking in Australia appears to be descending into farce. Just last week, maybe in anticipation of adverse events to come, the Australian Financial…
Senator Sam Dastyari, who has been involved in scrutinising the banks, and former Commonwealth Bank employee turned whistleblower Jeff Morris. Stefan Postles/AAP

Patchy laws leave corporate whistleblowers vulnerable

Whistleblowers need better incentives, compensation and protection under Australian law, especially those in the private and not-for-profit sectors.
On Thursday, Bill Shorten was in Western Sydney promising a limited night ‘no-fly zone’ when the planned Badgerys Creek airport comes into operation. Dan Himbrechts/AAP

Grattan on Friday: Who wins the biffo over the banks is politically important because this issue bites

When asked this week whether in retrospect she regretted the government trying to undo Labor's consumer protections, Assistant Treasurer Kelly O'Dwyer denied it had happened.
Customers have the most to gain out of a review of the powers of the Financial Services Ombudsman, which sits under ASIC. Sergio Dionisio/AAP

Stronger role for ombudsman is the key to protecting bank customers

Out of the many changes the federal government has made to ASIC, the review of the Financial Ombudsman will have the biggest impact on customers.
Scott Morrison told a joint news conference with Assistant Treasurer Kelly O'Dwyer that the banks would pay an additional $121 million to increase the resources of ASIC. Lukas Coch/AAP

Morrison warns banks not to pass on new ‘user-pays’ impost to finance ASIC reform

Scott Morrison has warned the banks not to pass on to customers the $120 million user-pays charge imposed on them to finance a strengthened Australian Securities and Investments Commission.
ASIC chairman Greg Medcraft says the regulator ‘can’t look over everyone’s shoulder’. Dan Himbrechts/AAP

Banking royal commission should be paid for by banks

Banks have had notice of these issues and failed to resolve them - it seems only fair that they should have to pay.
Prime Minister Malcolm Turnbull attending Westpac’s 199th birthday lunch in Sydney on Wednesday. Dean Lewins/AAP

Banks get a bollocking from Turnbull on ethics

Prime Minister Malcolm Turnbull has given banks a bollocking for unethical behaviour, suggesting they have not repaid the support they received during the global financial crisis.

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