AUSTRALIA

Dollar Spikes Reflect ‘Normal Market’, Says ASIC in Preliminary Report

By Editors | 03/05/2015

Spikes in the Australian dollar ahead of Reserve Bank interest rates decisions were the result of lower liquidity in the market before announcements are made, Australian Securities & Investments Commission said in a preliminary finding.

Australian Government Debt Rating to Impact Banks

By Editors | 28/04/2015

Australia’s Financial System Inquiry has urged local banks to boost their capital position amid risk that the federal government could lose its triple-A credit rating.

ASIC Expands Investigation on UBS over NSW Privatization Report

By Editors | 19/04/2015

The Australian Securities and Investments Commission’s investigation on UBS, a key adviser on the privatisation of NSW Coalition, now involved interviews with top officials at the bank including its Australia chief executive Matthew Grounds.

Australia’s ASIC Investigates Wealth Managers over Advice Fees

By Editors | 16/04/2015

The Australian Securities and Investments Commission (ASIC) is investigating some of the country’s biggest wealth managers for charging clients for financial advice even when no advice has been provided.

ASIC Seeks Reforms in Dealing with Client Legal Privilege

By Editors | 07/04/2015

The Australian Securities & Investments Commission is seeking reforms that would prevent people from making unsubstantial claims of client legal privilege that could delay investigations into breaches of the corporation law.

DTCC Urges Action Ahead of Next OTC Reporting Phase

By Editors | 25/03/2015

The Depository Trust & Clearing Corporation (DTCC) has urged institutions to stay ahead of reporting deadlines under the next phase of Australia’s derivatives market reporting rules, which will be implemented next month.

ASIC Wants More Liquidity from Chinese IPO Candidates

By Editors | 16/03/2015

The wave of Chinese companies listing on the Australian stock exchange in the past three years, many with less than 2% free float, has raised concern on whether initial public offering (IPO) rules should require better liquidity from foreign businesses.

ASIC Seeks Power to Ban Bank Products

By Editors | 12/03/2015

Australian Securities and Investments Commission is seeking additional powers to better regulate banks, and to intervene in the sale of products that harm consumers.

Australia Regulator Mulls Financial System Inquiry Proposals

By Editors | 11/03/2015

Australia’s banking regulator is considering backing calls for banks to strengthen their balance sheets, saying it is also reviewing the impact bankers’ pay has on breeding work cultures that can potentially harm the stability of the country’s financial system.