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…
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…
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…
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…
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…
Charis Palmer, The Conversation dan Emil Jeyaratnam, The Conversation
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…
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…
Joe Hockey’s mother-in-law was a victim of the Commonwealth Bank scandal, in which many people lost savings due to rogue financial advisers in part of the CBA group. But Hockey has been keeping his distance…
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…
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…
Credit makes us and credit breaks us – ancient Roman debtors cut into pieces by their angry creditors under the law of the Twelve Tables knew it, as does ASIC, tasked with regulating the many mortgage…
In 2005, the Federal Court faced the difficult task of arriving at a penalty for Steve Vizard after he was found in breach of his duties as a director of Telstra. In his judgment, Raymond Finkelstein criticised…
With the value of the Australian dollar falling more than 10 cents in the past few months, should we all be hedging our bets and trading the Aussie for a fast profit? There’s no shortage of foreign currency…
The implementation of employee share schemes could be expanded and the red tape surrounding them relaxed under policy reforms being considered by the Australian Securities and Investments Commission. While…
The Australian Securities and Investments Commission is moving to “real-time” monitoring of share trading as another weapon in the ongoing fight against insider trading. But will the use of this form of…
The Australian Securities and Investments Commission has called for more powers, including a broadening of the definition of “whistleblower”, in a paper defending its role as the corporate watchdog. ASIC’s…
Insurance infomediary iSelect lost its chief executive this week, just four months after the company went public, and less than two years into the role. iSelect blamed the resignation on a “difference…
In opening the Australian Securities and Investment Commission (ASIC) forum this week, chairman Greg Medcraft pulled no punches. “Manufacturers [i.e. banks and financial institutions] - and, frankly, this…
In language that is more in keeping with hackers and crime syndicates, the Financial Times reported last week that the FBI was going to assist securities regulators in the US to tackle “dark pools” and…