Looked at through the tech industry’s glasses — note that “tech” these days means only information technology — the budget seems benign. But there is some opportunity.
ASIC
Kiwi version of ASIC proves to be a watchdog with teeth
Quick tip to any budding corporate crook — you’re far better off committing a crime in Australia than across the Tasman.
Wallis not Joyris, the Yellow Brick Road duo
In recent weeks Mark Bouris and Christopher Joye have argued hither and thither for a dramatic shift in the rules that govern the Australian financial system, wites David Llewellyn-Smith of Macro Business.
Paper prophets get it wrong on Caltex profits
The corporate plod, ASIC, and others have been complaining about how many companies are selectively reporting their profits.
Hey ASIC, try these fluff-filled prospectuses
The Australian Securities and Investment Commission’s commendable move yesterday to tackle glossy retail prospectuses (prospecti?) inspired Crikey to examine some of the more egregious examples of fluff and bubble when corporates raid the wallets of middle Australia.
New York shows ASIC the way to pounce on GFC villains
While US authorities have taken legal action against failed companies, ASIC, Australia’s so-called corporate watchdog, has laid no criminal charges and only a smattering of civil actions against the villains of the GFC.
Regulation takes a back seat: ASIC asleep at the wheel
It’s the ultimate disgrace for the ASX Ltd and market regulation, and especially for the now all-powerful ASIC.
ASIC slow off the mark to act on collapsed companies
It appears that ASIC is almost frozen in the aftermath of the global financial crisis.
Babcock hearing misses the point: look at the execs
While the Babcock & Brown circus continues in the Sydney Federal Court, business commentators seem to be missing the point.
Memo ASZ, ASIC: no pussyfooting … get tough with BHP
ASIC and the ASX should force BHP to reveal all board briefings and advice on its recent disclosure about a possible involvement in corruption.
Federal Court puts the heat on key figures at ABC Learning
The Pandora’s Box that was ABC Learning Centres this week is being exposed to the financial world as the company’s administrator, Ferrier Hodgson, conducts a Federal Court examination of key ABC figures.
Business As Usual: Scary Airey’s TV sense … Senator Conroy’s media carrot … ASIC gets a computer program …
ASIC has finally bought a stockmarket surveillance system, a UK broadcast exec offers a few home truths to locals here, has Stephen Conroy produced a new “bribe” for out media sector? Plus more business briefs.
Shareholders miss out in CAMAC report
The Corporations and Markets Advisory Committee’s latest report on Schemes of Arrangement does little to strengthen the rights of minority shareholders, and is unlikely to upset many lawyers or bankers.
Crikey’s Business Awards of the Year: organisations
Crikey names the businesses who made a splash in 2009 — for all the right and wrong reasons.
No winners, but Jodee Rich gets back on his bike
For Jodee Rich, the One.Tel issue does not end with yesterday’s judgement: he’s still seeking the payment of the $132 million that PBL and News had originally committed for the rights issue, plus interest and damages.
Only a Senate inquiry can sort out One.Tel mess
Whilst ASIC has received the mother of all beltings in today’s papers for the failure to string up former One.Tel CEO Jodee Rich, more attention should be focused on the role played by Australia’s politicians and the Murdoch and Packer families.
Verrender: Time to put ASIC out of its misery
ASIC’s One.Tel flop puts the final nail in its coffin, says Ian Verrender: it’s time to scrap the regulator and start all over again.
Maiden: Will ASIC lose its nerve?
With ASIC departing the One.Tel battle with its tail wedged firmly between its legs, the regulator may be less bold in aggressively pursuing cases in the future, says Malcolm Maiden
Rich home free, ASIC in the dock
One.Tel executives Jodee Rich and Mark Silbermann may have escaped their legal battle with ASIC intact, but One.Tel was still a colossal failure, says Stephen Bartholomeusz.
ASIC takes a serious swing at MFS
Perhaps stung by public criticism that it hasn’t done enough to prevent and prosecute corporate fraud, ASIC has launched a second action in as many weeks, announcing a civil claim against various directors of collapsed fund manager MFS.
Centro charges put heat on Directors Club
ASIC announced today that it was bringing civil charges against the former executive and non-executive directors of collapsed property group Centro, alleging they failed to correctly classify $1.54 billion of interest-bearing liabilities.
Can the ASIC regulatory tiger grow teeth?
Will the new market trading, monitoring and control system be as transparent and open about its regulatory actions as the ASX has become this year?
ASIC steps up to the plate on market regulation
All market trading will now be monitored by ASIC while ASX will continue its prime role of supervising all listed companies.
Supreme Court slams Hardie, bans directors
The Supreme Court of New South Wales has delivered significant penalties in the civil action brought by ASIC against various former executives and directors of asbestos manufacturer James Hardie.
Canning advisor’s commissions would be super start to reform
It’s been a long fall for the retail superannuation industry and financial planners from their glory year of 2005. Now, the financial planning industry is under fire from multiple fronts and the Government is reviewing superannuation.
