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Murray inquiry bad news for Coalition on super, financial planning

The Murray Financial Services Inquiry warns of the very problems the government is now making worse in financial planning and super — and departs from the holy writ of earlier financial inquiries.

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Prohibitive ASIC fees the enemy of corporate transparency

The government charges exorbitant fees for members of the public to access information about companies and their directors. Jeffrey Knapp, a lecturer in accounting at UNSW, says the result is not nearly enough scrutiny on our corporate citizens.

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Regulation by mateship — Ian and Mathias show the way in financial planning

We’re headed for an era of mateship-based regulation in financial planning, in which the big banks will get away with as much as they can until governments decide it’s politically unpalatable.

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Solomon Lew’s clever — and technically legal — play for DJs true to form

Solomon Lew is no stranger to the revenge business — and he usually ends up getting what he wants.

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CommBank prepares desperate campaign to restore credibility

Desperate to salvage its financial planning reputation, the Commonwealth Bank is preparing a major campaign targeting victims of its financial planning arm.

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It’s not just the CBA: the bigger picture of ASIC’s aversion to regulation

The problems in ASIC’s regulation of financial services aren’t confined to the Commonwealth Bank, and they’re continuing right now.

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ASIC’s problems start at the top

A Senate committee has savaged the Australian Securities and Investments Commission and demanded a judicial inquiry into the Commonwealth Bank — but it’s unlikely to happen.

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Privatising ASIC register would be a blow to transparency — and victims

Charging fees to search the ASIC register is outrageous enough. Privatising the register, which would lead to higher costs, would be worse still.

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In Tasmania, even crooks like Gay can run a business

Tasmania’s judges just don’t have a bad word to say about John Gay. How is it the former Gunns boss can run a company again, asks business director and commentator John Addis.

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Corporate watchdog fails to pass a conflict of interest test of its own

How ASIC handles conflicts of interest when it relies on swapping staff with industry is key to perceptions of the regulator. And the story is not a good one.

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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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