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Calculating compliance: how ASIC ‘enforced’ financial advice laws

ASIC has failed to respond to serious allegations about its enforcement of the law on financial planning. Crikey examines the damning evidence against the corporate watchdog.

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ASIC, financial planners and nightmare-based regulation

When it came to Commonwealth Bank financial planners ripping off clients, regulation was all a bit too hard for the corporate regulator ASIC.

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Will ASIC try again on Gay’s Gunns insider trading proceeds?

Former Gunns chairman John Gay isn’t off the hook yet: ASIC has revealed in Senate Estimates it could still prosecute after his insider trading conviction.

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ASIC on FOFA rollback: Abbott changes ‘preserved the principles’

ASIC boss Greg Medcraft was playing a straight bat today, questioned on the Abbott government’s rollback of financial advice reforms he supports. He reckons the principles are still there.

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The Coalition’s poor record on political royal commissions

The government is poised to announce a royal commission into unions. But if there’s a systemic problem in Australian commerce, it’s not corrupt officials in our ever-shrinking trade unions — look instead at ASIC and the AFP.

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John Gay, Jonathan Moylan and a tale of two ASICs

When it comes to corporate crooks, ASIC is content to wave through minimal fines. But look out if you’re online. Then its pursuit will be relentless.

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Double standards as gutless ASIC targets the little guy

The corporate regulator is too scared and incompetent to take on large companies, but has come down hard on the man who sent out a fake press release to expose the stupidity of finance journalists.

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As Craig Gore enjoys the river views, ASIC is circling

Regulators are circling twice-bankrupt Gold Coast business tycoon Craig Gore ahead of a Federal Court case later this year. But he’s still living in luxury in a $1300-per-week river-side rental.

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Bumbling ASIC heralds new internet censorship era

ASIC has been revealed as the agency behind the blocking of a Melbourne education website, using a hitherto-unused internet censorship power.

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High-flying investor Oliver Curtis could land with a thud

Oliver Curtis — a former Bachelor of the Year who settled down with a high-flying Sydney PR queen — has now been charged with conspiring on insider trading. It could be a heavy fall from the social set.

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Back to school for investors: ASIC’s exam for ‘complex’ buys

ASIC wants you to take an exam before you can invest in what it calls complex financial products. Experts worry it could push the cost of playing markets higher.

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Why ASIC investigations are not as easy as ABC

ASIC appears to have given up its long pursuit of ABC Learning chief Eddy Groves. So why couldn’t the regulator land such a big fish?

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Tyre kickers and creeps … put up or shut up?

ASIC’s Greg Medcraft wants to change the rules for takeovers, but while a “put up or shut up” rule might reduce bear hugs such as that felt by Spotless, there’s no real problem to solve with new creep provisions.

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ASIC’s insider trading crackdown an expensive furphy

Insider trading is rife on the Australian Stock Exchange, but ASIC’s new powers and punishments won’t do anything to prevent it, writes Tom Elliot .

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Westpoint paper trail snares KPMG

Major accounting firm KPMG has received a rare rebuke from the Australian Securities and Investments Commission, with three partners agreeing to be banned from auditing companies.

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Crikey Says

Labor leaders have had a mixed record with picking the business leaders with whom they form close associations.

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Which watchpuppy? The strange world of bank nudging

There might be more to Wayne Swann’s nudge and wink about bank mortgage competition than meets the eye – which would be just as well, as so far there isn’t much to see, writes Michael Pascoe.

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