The licence didn’t extend to trading in cryptocurrenices, and had been granted to a firm FTX took over, rather than FTX itself.
UN Secretary-General António Guterres says rules around corporate emissions reporting are “wide enough to drive a diesel truck through”.
ASIC suspects some super fund trustees of using inside information for personal gain, but they might not be caught by the insider trading laws.
The implosion of the Australian Securities and Investments Commission, has gone from tragedy to farce.
The royal commission wanted the corporate cop to first ask ‘why not litigate?’. The treasurer’s new guidelines suggest it should instead ask ‘why not negotiate?’.
The National Consumer Credit Protection Amendment bill goes against two explicit recommendations of the banking royal commission.
It was one of only two recommendations the government rejected.
Independent MP Helen Haines’s bill will likely not pass without the government’s support, but it proposes a robust body with suitable accountability mechanisms. It’s worth serious consideration.
If anything, the standards are becoming easier, rather than harder, to apply.
It’ll be up to the borrower, not the lender to determine whether what’s offered is suitable under changes to be detailed in the budget.
ASIC is passing up opportunities to prosecute, all the more so in this ‘very different economic environment’.
AMP’s handling of sexual harassment charges shows its culture is still rotten.
The Reserve Bank has scheduled an announcement for Thursday. The government will unveil a second coronavirus stimulus package within days.
Westpac’s 154 page financial statement will be a challenge for shareholders attending Thursday’s annual general meeting. In the early 2000s, it was only 35 pages.
The government has agreed to create an independently-chaired body to report on the performance of ASIC and APRA, but it hasn’t said its reports will be made public.
The odds of winning are no better than even, and the costs of losing are enormous. We ought to limit forex to traders who can demonstrate their expertise.
Suddenly, ASIC is about to have real power. It’ll be easier to get prosecutions and they will hurt, even if the law remains less than completely clear.
There are better ways to teach financial literacy than through school banking schemes.
ASIC is under pressure to take every significant case to court. But that would delay justice and break its budget.
Negotiated deals between ASIC and alleged wrongdoers leave us in doubt as to the reach of the law.