News

MEDIA RELEASE - ACI announces exclusive offer with Complinet in 2010.: 2 June 2010 ACI is pleased to announce its continuing relationship with Complinet – a news and regulatory tracker service for compliance and risk professionals with an interest in the financial sector. As part of Complinet’s latest offer, ACI members are entitled to the following benefits: 12 month subscription to the Complinet Complete... Read More »
ACI Compliance E-News: May/June Edition 4.: Welcome to the Compliance E-News May/June 2010, Edition 4 for members. Please click here to view the document. News Highlights : ACI Award nominations now open ACI Compliance, Salary and Benchmarking survey closing this week CCP Distance Unit 1 opens in August 2010 New Sydney Networking event, presented... Read More »
Invitation from SGX: 'The Next Generation of Exchange Trading in Asia': ACI members and guests are invited to attend a briefing held by Singapore Exchange, as their CEO, Magnus Bocker, unveils SGX's latest technology and market development initiatives. This event will be based in Singapore, and a cocktail reception will take place after the briefing. Event Details Date : Thursday, 3 June 2010 ... Read More »
News Update from Aust. Govt. Productivity Commission - Anti-Dumping and Countervailing System Inquiry Report: Media Release - Australia's Anti-Dumping and Countervailing System Inquiry Report from the Australian Government Productivity Commission 27 May 2010 Key Points: The Australian anti-dumping system, which is based on agreed WTO rules and procedures, benefits a small number of import competing firms, but imposes greater costs on the rest... Read More »
News Update issued by FSANZ- Notification of Development to the Food Standards Code: Click here to go to the latest edition of the Food Standards Notification Circular, issued by FSANZ and summarising the latest proposals and developments to the Food Standards Code amendment. About FSANZ Food Standards Australia New Zealand (FSANZ) is an independent statutory agency established by the Food Standards Australia New Zealand Act 1991.... Read More »
News Update issued by ASIC: Information for investors in frozen funds: Media Release from ASIC - 10-109AD Information for Investors in Frozen Funds ASIC today published information to better inform investors in ‘frozen funds’ about their rights in relation to the freezing of funds and to confirm which entities have received relief to assist in the redemption of funds. The term ‘frozen fund’ is often used... Read More »
News Update issued from ACMA - Seven breaches code classification: Media Release from ACMA - Seven breaches code with incorrect classification of an episode of Packed To The Rafters as PG The Australian Communications and Media Authority has found that Channel Seven Adelaide Pty Ltd, the licensee of SAS, breached the 2004 Commercial Television Industry Code of Practice (the code) by incorrectly classifying an episode... Read More »
News Update issued by Hong Kong Monetary Authority: Media Release from the Hong Kong Monetary Authority 20 May 2010 The following has been uploaded on the HKMA website: Guidelines and Circulars Implementation of Pre-Investment Cooling-off Period for Retail Customers http://www.info.gov.hk/hkma/eng/guide/circu_date/20100520e1.pdf For more information, please visit the homepage of the Hong Kong Monetary Authority at http://www.hkma.gov.hk ... Read More »
News Update issued by APRA - speech from Helen Powell on the role of the prudential regulator: APRA Media Release: Role of the Prudential Regulator - Speech by Helen Powell Friday, 21 May 2010 Good morning ladies and gentlemen. It is a pleasure to participate in today's National Conference of the Financial Services Accountants Association and to provide APRA's perspectives on the decade ahead. It is interesting to note how... Read More »
News Update issued by Singapore Exchange: Singapore Exchange Welcomes Prudential: SGX Media Release - Singapore Exchange Welcomes Prudential 25 May 2010 – Singapore Exchange (“SGX”) announced today Prudential plc has commenced trading on its Mainboard, under the ticker symbol <“Pru500”>. With a total of 489,000 shares traded on its debut in Singapore, Prudential saw its highest traded price at US$7.72 and closing price at... Read More »
News Update issued by ACMA - ACMA finds Nine Breached Children's Television Standards: Media Release by AMCA - ACMA finds Nine Breached Children’s Television Standards The Australian Communications and Media Authority has found that TCN Channel Nine Pty Ltd (Nine) did not comply with the Children’s Television Standards 2005 (the CTS) in August 2009, in relation to a prize-giving segment in an episode broadcast of The Shak, a... Read More »
News Update issued by AMCA: AMCA launches local radio station content audit: Media Release from AMCA: 2HC Coffs Harbour, 2EL Orange and 2PM Kempsey fail to broadcast required local content—ACMA launches local content audit The Australian Communications and Media Authority (AMCA) has issued remedial directions to the licensees of regional commercial radio services, 2HC Coffs Harbour, 2EL Orange and 2PM Kempsey (all licensees of... Read More »
HKMA News Update (Guidelines and Circulars) - 20 May 2010: To view the Guidelines and Circulars regarding Implementation of Pre-Investment Cooling-off Period for Retail Customers click here . Read More »
ASIC advisory: Full court of the Federal Court hands down decision clarifying ASIC's power to disqualify directors: To view the article regarding how the full court of the Federal Court handed down the decision clarifying ASIC's power to disqualify directors click here . Read More »
ACCC - Invitation for Event: Unfair Contract Term Information Session - Brisbane: Unfair Contact Term Information Session by ACCC - 2 June 2010 The ‘Unfair Contract Terms’ (UCT) legislation was passed in March 2010 and will come into effect on 1 July 2010. The UCT relates to Standard Form Contracts between consumers and business (it does not cover business to business contracts). ... Read More »
Seven breaches code with incorrect classification of an episode of Packed To The Rafters as PG: The Australian Communications and Media Authority has found that an episode of the show 'Packed to the Rafters' that was aired on Channel Seven Adelaide Pty Ltd which is the licensee of SAS, breached the 2004 Commercial Television Industry Code of Practice (the code) by wrongfully classifying the episode PG. ACMA Chairman, Chris Chapman stated, 'Viewers' decisions about... Read More »
Food Standards Gazette (Amendment No. 116): To view the Food Standards Gazette (Amendment No. 116) click here . Read More »
MEDIA RELEASE - ACI is pleased to announce its new alliance with GreenBizCheck: 19 May 2010 GreenBizCheck is a global environmental certification program for office-based organisations. Office buildings and associated activities are responsible for nearly 35% of all carbon emissions. GreenBizCheck’s program helps companies to quickly implement sustainable environmental practices which save money, conserve energy, water, resources, minimise waste and provide a simple and affordable program to... Read More »
HKMA News Update (Legislative Council Issue) - 14 May 2010: To view Hong Kong Monetary Authorities latest legislative council issues, click here . Read More »
MEDIA RELEASE - ACI launches the 2010 Benchmarking and Salary Survey for Compliance Professionals: 17 May 2010 The Australasian Compliance Institute (ACI) is pleased to launch the 2010 Annual Benchmarking and Salary Survey for ACI members. Designed to gather key data regarding the levels of remuneration, education and qualification of Compliance Professionals globally, the salary survey is in its 8 th year of existence. For the second year running, this year’s... Read More »
MEDIA RELEASE - ACI announces alliance with Compliance Insider: 14 May 2010 ACI is pleased to announce its new alliance with Compliance Insider. Compliance Insider is a news and information service centred around risk and compliance occurring within the Asia-Pacific, Middle East and Global Emerging Markets (Central Asia, South America, South Africa, Latin America, the Russian Federation and former Soviet States). Compliance Insider... Read More »
APRA Update- release of discussion paper to update general and life insurance capital standards: The Australian Prudential Regulation Authority (APRA) has today released a discussion paper describing its proposals to update the capital standards for general insurers and life insurers. APRA’s intention is to make its capital requirements more risk-sensitive and to improve the alignment of its capital standards across regulated industries, where appropriate. For general insurance, APRA is completing the refinements... Read More »
HKMA News Update (Guidelines and Circulars) - 13 May 2010: To view the Guidelines and Circulars regarding United Nations Sanctions Ordinance and List of Names for Suspicious Account Reporting click here . Read More »
NGER e-News: To view the NGER eNews Vol 11, May 2010 click here . Read More »
ASIC advisory: Market update on confidential information and rumours: ASIC today announced it will continue working closely with the market over the next six to nine months to improve industry standards on the responsible handling of rumours and corporations' management of confidential information but will not issue regulatory guidance on either subject at this stage. To view the article click here . Read More »
AER Communication No. 291 - ACT/NSW distribution network service providers 2010-11 pricing proposals: The Australian Energy Regulator (AER) has received pricing proposals from ActewAGL and the NSW distribution network service providers (DNSPs), Country Energy, Energy Australia and Integral Energy, for the regulatory year 2010-11. The AER is required to approve these pricing proposals if it is satisfied that they comply with the rules relating to distribution pricing and the distribution determination,... Read More »
Speech by Senior Minister Goh Chok Tong at The Singapore Corporate Awards 2010 at The Ritz-Carlton, Millenia: To view the speech by Senior Minister Goh Chok Tong done at The Singapore Corporate Awards 2010 at The Ritz-Carlton, Millenia click here . Read More »
ASIC Media Release: Prospectus relief to help corporate bond market: The Australian Securities and Investments Commission (ASIC) has provided class order relief which will help promote the issue of vanilla corporate bonds to retail investors. The ASIC initiatives will simplify the disclosure requirements for certain offers of listed vanilla bonds by allowing such offers to be made with reduced disclosure under a short-form prospectus. The... Read More »
Government announces 'super-regulator' for financial markets: Commerce Minister Simon Power tonight announced that the Government is creating a new regulator for New Zealand's financial markets. He made the announcement at the Institute of Financial Professionals New Zealand annual awards in Auckland. To view the full article please click here . Read More »
Financial Markets Authority announced: On 28 April the Commerce Minister Simon Power announced plans to establish a new consolidated financial sector regulator, the Financial Markets Authority. The Authority will take over the functions of the Securities Commission and some of the current functions of the Registrar of Companies, NZX (New Zealand Stock Exchange), and the Government Actuary. To view the full... Read More »
ASIC advisory: ASIC extends hardship relief to apply to a �frozen fund� in winding up: ASIC today announced that it will facilitate operators of 'frozen funds' making hardship payments to members where the fund is in the process of winding up. This relief is an extension of the relief ASIC has granted since October 2008 to improve investor access funds, to allow the operators of frozen mortgage funds to pay hardship withdrawals,... Read More »
SFC's Update Alert: Circular to Licensed Corporations and Associated Entities: To view the updates regarding: Circular to Licensed Corporations and Associated Entities Anti-Money Laundering / Combating Terrorist Financing (1) United Nations Sanctions (Cote d'Ivoire) Regulation 2010 (2) United Nations Sanctions (Democratic Republic of the Congo) Regulation 2010 (3) United Nations Sanctions (Liberia) Regulation 2010 (4) US President's Executive Order 13224 Click here . Read More »
Australian and New Zealand Food Regulation Ministerial Council Communique: To view the Communique from the Australian and New Zealand Food Regulation Ministerial Council, click here. Read More »
ASIC advisory: Access to dispute resolution for consumers of credit and margin lending financial services: From 1 July 2010, Australian consumers will have much greater access to free, independent external dispute resolution services when they have a problem with their credit provider or broker following the release of updated regulatory guidance from the Australian Securities and Investments Commission (ASIC). To view the full advisory click here . To view the Regulatory... Read More »
ASIC advisory and media release: Friday 7th May, 2010: ASIC today released updated policy and regulatory guidance to assist trustee companies providing traditional trustee company services (traditional services) to comply with the licensing and conduct requirements under the Corporations Act. These traditional services include administering deceased estates and powers of attorney. To view the full media release click here . Read More »
ASIC advisory: ASIC grants interim class order relief from regulation for all funded representative actions and funded proof of debt arrangements: ASIC today announced its intention to grant interim class order relief to lawyers and funders involved in legal proceedings structured as funded representative proceedings and funding claims lodged with liquidators to prove in the winding up of an insolvent company (proof of debt arrangements). To view the full article click here . Read More »
Professions and the Trade Practices Act: To view the publication regarding the Professions and the Trade Practices Act click here . Read More »
HKMA News Update (Guidelines and Circulars) - 6 May 2010: To view the Guidelines and Circulars regarding United Nations Sanctions Ordinance click here . Read More »
Food Standards Notification Circular Subscribers (11-10) (7 May 2010): To view the latest notification regarding Notification Circular (11-10), published on 7 May 2010, which is a concise summary of significant developments in relation to the following Applications to amend the Australia New Zealand Food Standards Code, as well as other significant matters: - Application A603 - to permit the use of Red 3 Erythrosine as... Read More »
ACI supports Blake Dawson's Annual Risk & Compliance Survey - Breakfast Launch - 20 May 2010: Blake Dawson will be conducting an breakfast on 20 May 2010 to launch the results from their annual Risk & Compliance Survey. The annual Blake Dawson Risk & Compliance survey for 2010 showed that legal compliance continues to be of increasing concern to boards and management of organisations across Australia and abroad. Blake Dawson partners will be presenting... Read More »
New 'must read' for professionals and professional associations: Professions and the Trade Practices Act: A must read for all professionals and professional associations - Professions and the Trade Practices Act - has been launched today by Australian Competition and Consumer Commission deputy chair Michael Schaper. To view the full article clear . Read More »
Issue 4 March 2010 Quarter - Red Tape UnWrap: Red Tape Reduction on Target NSW is more than half way to achieving its target of reducing red tape by $500 million by June 2011. Click here to read more. Review Update The Better Regulation Office and the Department of Planning have recently completed a review into promoting economic... Read More »
HKMA News Update (Publications) - 30 Apr 2010: The Annual Report 2009 for HKMA has been uploaded onto the HKMA website to view the report click here . Read More »
Compliance E-News: Edition 3 - April 2010: Welcome to the Compliance E-News April 2010, Edition 3 for members. Please click here to view the document. News Highlights : ACI Risk Tool now available New volunteer working parties for ASIC & ACCC submissions ACI 14th Annual Conference - details announced Read More »
Compliance E-News: April 2010 - Articles: Click below to view the article references posted in the April edition of the ACI Compliance E-news: Article 2: Telecommunication after competition: challenges, institutions,regulation' - click here Read More »
Risk & Compliance Survey - produced by RMSS: At ACI's 13th Annual Conference in October 2009, delegates were invited to participate in a survey conducted by RMSS on key issues and emerging trends as seen by risk and compliance professionals. This survey appeared in our April edition of the ACI Compliance E-News for members. To view the results of this survey, click here .... Read More »
HK SFC announce transfer of regulation of structured products to the SFO: Hong Kong's Securities and Futures Commission has announced plans to go ahead with a transfer of the regulation of structured products from the Companies Ordinance to the Securities and Futures Ordinance On 30 October 2009, the Securities and Futures Commission (SFC) issued a Consultation Paper on Possible Reforms to the Prospectus Regime in the Companies Ordinance and the... Read More »
ASIC releases guidance on short selling obligations: On the 23rd of April ASIC released regulatory guidance to assist with compliance with new legal requirements under the Corporations Act 2001 and Corporations Regulations 2001 in relation to short selling. ASIC’s guidance is contained in a revised version of Regulatory Guide Short selling 196 ( RG 196 ), which was first published in... Read More »
Government Proposals to Overhaul Financial Advice: As members would be aware from recent press coverage, on the 26th of April the Minister for Financial Services, Superannuation and Corporate Law, Chris Bowen MP, announced a series of proposed reforms to be legislated to improve the quality and impartiality of financial advice under the label the Future of Financial Advice . These proposals have been formulated... Read More »
Commerce Commission - Media Release - 2009 annual monitoring report shows increasing competition in telecommunications markets: 2009 annual monitoring report shows increasing competition in telecommunications markets The Commerce Commission has today released its 2009 telecommunications monitoring report analysing the state of New Zealand telecommunications markets. As well as looking at developments in 2009, the report also assesses the progress seen since the 2006 amendments to the Telecommunications Act came into effect. To view... Read More »
10-85AD ASIC confirms proxy documents can be lodged electronically: ASIC advises that a listed company may accept proxy votes for general meetings that are lodged by electronic means without amending its constitution to expressly permit that. To view the full information released click here . Read More »
Financial Ombudsman Service Circular - Issue 2: The Financial Ombudsman has released the 2nd issue of their circular in April 2010. Click here to assess this issue . Topic Outlines: 1. Dealing with customers in financial difficulty: small business 2. Debt collection and social security recipients 3. Secured debts and shortfall issues 4. Customers in financial difficulty and lenders... Read More »
ASIC releases guidance on regulation of clearing and settlement facilities: On the 20th of April ASIC released regulatory guidance on its approach to the licensing and regulation of clearing and settlement (CS) facilities. ASIC’s Regulatory Guide 211 Clearing and settlement facilities: Australian and overseas operators ( RG 211 ) has been released in anticipation of more CS facilities seeking to operate in Australia. It responds to international... Read More »
SFC's Update Alert - 15 Apr 2010: To view the SFC update regarding "Circular to Licensed Corporations which are Participants of the Stock Exchange of Hong Kong Limited and/or Hong Kong Futures Exchange Limited" click here . Read More »
Stronger powers means better protection for consumers: To view the news release regarding "Stronger powers means better protection for consumers" click here . Read More »
HKMA News Update (Guidelines and Circulars) - 9 Apr 2010: To view the news update regarding "Self-Assessment of Compliance with the Supervisory Policy Manual (SPM) CG-5 "Guideline on a Sound Remuneration System" click here . Read More »
HKMA News Update (Publications) - 8 Apr 2010: To view the new Working Paper that has been uploaded onto the HKMA website click here . Read More »
MAS, ACRA AND SGX INTRODUCE CHINESE EDITION OF �GUIDEBOOK FOR AUDIT COMMITTEES�: The Monetary Authority of Singapore (MAS), the Accounting and Corporate Regulatory Authority (ACRA) and SGX launched the English edition of "ACGC Guidebook for Audit Committees in Singapore" in late 2008. Following on from there, KPMG Audit Committee Institute (ACI), one of the key content contributors, was engaged to translate the guidebook into the Chinese language to reach Chinese-speaking... Read More »
Event: Safety Health and Environment (SHE) in the Boardroom - A Director's Perspective: ACI is pleased to support the following event featuring Martin Tolar from ACI as a guest speaker. Safety Health and Environment (SHE) in the Boardroom - A Director's Perspective SHE laws impose significant obligations on companies and directors. Companies recognise that it is becoming increasingly a part of their governance structures to provide directors... Read More »
SFC's Update Alert - 01 Apr 2010: To view the Circular to All Licensed Corporations, Responsible Officers, Licensed Representatives and Registered Institutions Regarding the Addition of an Online Payment Function to the SFC Online Portal, click here . Read More »
NewsFlash - Regulator's Column : Trading Ahead of Non-public Information and Front-running: To view the SGX article regarding " Trading Ahead of Non-public Information and Front-running" click here . Read More »
ASIC advisory: Registration opens for licensees under the new national consumer credit regime: To view the following information that has been released by the Australian Securities and Investments Commission (ASIC) click here . Read More »
New public consultation from Business Consultation: A new public consultation was recently submitted to the Business Consultation website. To view this consultation click here . Read More »
ASIC advisory: Guidance for credit licensees about compensation and insurance obligations: ASIC today released regulatory guidance for credit licensees and insurers about the compensation and professional indemnity (PI) insurance obligations under the National Consumer Credit Protection Act (National Credit Act). To view the full article click here . Read More »
Guidance on boundary between financial planning and advice: The Securities Commission has issued guidance for the financial advice sector on the boundary between financial a planning service and financial advice. To view the news release click here . Read More »
HKMA News Update (Guidelines and Circulars) - 26 Mar 2010: To view the Guidelines and Circulars Statements issued by Financial Action Task Force on Money Laundering click here . Read More »
10-60AD ASIC acquires integrated market surveillance system: ASIC today announced it has acquired an integrated market surveillance system (IMSS) that will analyse activities and trends in market data, identify suspicious trading activity, and raise alerts. To view the full article please click here . Read More »
ACCC issues advice on water trading rules: The Australian Competition and Consumer Commission today presented its advice to the Murray-Darling Basin Authority on the development of water trading rules. To read the full article click here . Read More »
NGER e-News: To view the NGER e-News click here . Read More »
Media Release - ACI release New Online ISO 31000:2009 Risk Tool: ACI is pleased to announce the launch of its new online Risk tool, which is supports the release of the International Standard for Risk, the ISO 31000:2009. This practical online resource is designed to provide guidance to assist in the implementation of the new ISO risk standard in a single business unit or across an entire enterprise. Developed... Read More »
Website update - Guidance for KiwiSaver Providers: The Securities Commission has published a guidance for providers on distribution and disclosure of KiwiSaver schemes. To read the full new release click here . Read More »
Beacon Events - Governance, Risk & Compliance Asia Summit 2010: ACI is pleased to promote the Governance, Risk and Compliance Asia Summit 2010, held in Hong Kong by Ethical Beacon Events: Click here to download brochure. Learn how leading companies in the region, across a variety of industries, are adopting strategic enterprise approaches to risk, compliance and governance. Create long term... Read More »
Hong Kong Monetary Authority: Supervisory Policy Manual: To view Hong Kong Monetary Authorities Supervisory Policy Manual regarding 'Guideline on a Sound Remuneration System' click here . Read More »
HKMA News Update (Guidelines and Circulars) -- 19 Mar 2010: To view the Guidelines and Circulars on Supervisory Policy Manual (SPM) CG-5 "Guideline on a Sound Remuneration System" click here . Read More »
Circular to All Licensed Corporations on Information Technology Management: To view the information regarding 'Circular to All Licensed Corporations on Information Technology Management' click here . Read More »
10-46AD ASIC releases audit firm inspection report: The Australian Securities & Investments Commission (ASIC) today released its fourth audit inspection program public report summarising the results of audit firm inspections completed between 1 January 2008 and 30 June 2009. To view the full article click here . Read More »
Regulatory Announcement : SGX ENHANCES DERIVATIVES CLEARING FUND STRUCTURE: 8 March 2010 - Singapore Exchange ("SGX") today announced changes to the structure of the SGX-Derivatives Clearing (DC) Clearing Fund and the SGX-DC Clearing Rules, which will take effect from 10 May 2010. To view the full announcement click here . Read More »
Compliance E-News - Edition 2 - February/March 2010: Welcome to the Compliance E-News February-March 2010, Edition 2 for members. Please click here to view the document. News Highlights : ACI Development in Asia CCP Residential and CCP Distance courses registration ending shortly New state volunteer working parties for Victoria and Tasmania ABC Journalist, Matt Peacock... Read More »
Compliance E-News: February-March Articles: Click below to view the full articles posted in the February-March edition of the ACI Compliance E-news: Beyond Compliance - Implementing the Right Systems and Procedures to Encourage Ethical Culture By June Smith, Prinicpal Argyle Lawyers, & ACI Member ISO10002: Complaints Handling System: a study ... Read More »
ASIC advisories: 10-42AD Short position reporting: ASIC today has announced decisions made in relation to the following provisions introduced in the Corporations Amendment Regulations 2009 (No 8) (SR No 327 of 2009) ( Short Selling Regulations ): to delay the commencement of short seller obligations to lodge short position reports from 1 April 2010 to 1 June 2010; and to... Read More »
ACCC: Breaching the Trade Practices Act has never been more costly: The ACCC has put businesses on notice that tougher penalties will be incurred for breaching the Trade Practices Act. ACCC Chairman Graeme Samuels speaking at a luncheon in Melbourne revealed that organisations engaging in anti-competive behaviour, including cartels would receive much higher penalties. The ACCC Chairman noted there was an international expectation to raise the stakes in... Read More »
Media release: Final reminder about compliance reporting deadline: USTRAC has issued a media release to remind industry that the deadline for submission of their 2009 anti-money laundering and counter-terrorism financing (AML/CTF) compliance reports is fast approaching. To view the media release click here . Read More »
SFC to adopt new short-position reporting regime: In a set of consultation conclusions released today, the Securities and Futures Commission (SFC) announced that after taking into account industry feedback and the domestic market situation, it will introduce a short-position reporting regime to enhance transparency of short-selling activities in Hong Kong. To view the full update click here . Read More »
Commerce Commission - Media Release - Cartel leniency policy updated by Commerce Commission: The Commerce Commission has today released its updated cartel leniency policy. To view the media release click here . To view the updated cartel leniency policy click here . Read More »
Reserve Bank news release - Credit ratings mandatory for deposit takers: The Reserve Bank announced today that credit ratings are now mandatory for non-bank deposit takers (NBDTs). Reserve Bank Governor Alan Bollard said credit ratings from approved rating agencies play an important role in the new regulatory regime. "Credit ratings are useful as they assist investors to compare the relative riskiness of deposit taking institutions when they decide... Read More »
Guidance for non-bank deposit takers: The Securities Commission today issued interim guidance for non-bank deposit takers on disclosure of credit ratings. Mandatory credit rating requirements for NBDTs come into effect on 1 March. To view the news release click here . Read More »
ACCC: Breaching the Trade Practices Act has never been more costly: Business is on notice – the ACCC will be pursuing tougher penalties for anti-competitive behaviour, including cartels," Chairman of the ACCC Graeme Samuel said today. Speaking to an AICD luncheon in Melbourne, Mr Samuel noted that for around 14 years the maximum penalty for anti-competitive conduct, be it misuse of market power or cartel conduct, had been $10... Read More »
Regulatory Announcement - SGX Proposes Changes to Clear a Wider Range of Physically Deliverable Contracts: 25 February 2010 - Singapore Exchange ("SGX") is seeking public comments on proposed amendments to its derivatives clearing rules in order to provide the flexibility to accommodate physically deliverable contracts with varying delivery mechanisms and re-novation processes. To view the full announcement click here . To view the consultation paper click here . Read More »
ACCC submits advice on accreditation of state agencies under the water infrastructure charge rules: The Australian Competition and Consumer Commission has submitted its advice on the accreditation of state agencies by the ACCC under the water infrastructure charge rules (WICR) to the Minister for Climate Change and Water. To view the rest of the article click here. Read More »
Food Standards Gazette - Amendment No. 114: Amendment No. 114 was gazetted on 18 February 2010 in Australia and published in the New Zealand Gazette on the same day (effect in New Zealand will follow gazettal of a Ministerial Notice). To view this amendment please click here . Read More »
HKMA News Update (Guidelines and Circulars) -11 Feb 2010: To view the Guidelines and Circulars regarding "Elucidation of Supervisory Principles and Operational ArrangementsRegarding Renminbi Business in Hong Kong" click here . Read More »
Regulatory Announcement - SGX Grants Extension to Watch-List Companies: To view the Regulatory Announcement regarding "SGX Grants Extension to Watch-List Companies" click here . Read More »
HKMA News Update (Guidelines and Circulars): To view the information about "Guidance Paper on Cover Payment Messages Related to Cross-border Wire Transfers" click here . Read More »
ASIC advisory: Guidance on disclosure of credit ratings in Australia: ASIC today released guidance in the form of an information sheet clarifying how credit ratings issued by licensed credit rating agencies (CRAs) may be disclosed in Australia. To view the full article as well as the guidance click here . Read More »
Media Release: ASX Review of Algorithmic Trading and Market Access Arrangements: The Australian Securities Exchange (ASX) has released the findings of its review of algorithmic trading and market access. To view the full media release click here . Read More »
WARNING: Illegal Share Offer - Inertialess Drive ZPE (2010) Limited: The Securities Commission warns people who have been invited to invest in Inertialess Drive ZPE (2010) Limited that its share offer is illegal. To view the full media release click here . Read More »
SGX Provides Guidance on Proposals for Restructuring or Spin-Offs: To view the Regulator's Coloumn article regarding " SGX Provides Guidance on Proposals for Restructuring or Spin-Offs" click here . Read More »
SFC's Update Alert: To view the Circular to Licensed Corporations and Associated Entities click here . Read More »
HKMA News Update (Guidelines and Circulars): To view the Guidlines and Circulars regarding the Return of capital adequacy ratio ("CAR Return") -- Reporting of "structural positions" in the calculation of market risk capital charge for foreign exchange exposures under the standardized (market risk) approach ("STM approach") click here . Read More »
Media release: APRA releases guidance on the management of security risk in information and information technology: The Australian Prudential Regulation Authority (APRA) has today published a prudential practice guide (PPG) on the management of security risk in information and information technology (IT) by institutions supervised by APRA. To view this guide please click here . Read More »
ASIC advisory: Margin lending licensing commences: Issuers and advisers of margin lending facilities will be able to apply for an Australian Financial Services licence (AFSL), or a variation to an existing licence, from today, 1 February 2010 until 30 June 2010. To view the full article click here . Read More »
ASX Media Release: Capital Raising in Australia during the GFC: The Australian Securities Exchange (ASX) has today released an information paper on capital raising in Australia and some other major global markets during the global financial crisis (GFC). To view the full media release click here . Read More »
ASIC advisory: ASIC further extends transitional period for compliance with group purchasing bodies class order: The following information has been released by the Australian Securities and Investments Commission (ASIC). To view this information click here . Read More »
Media release: Extension for international funds transfer instructions reporting: AUSTRAC has issued a media release to announce an extension to the transition period for businesses required to report international funds transfer instructions (IFTIs) under Australia's anti-money laundering legislation. To view the media release click here . Read More »
HKMA News Update (Press Releases) - 25 Jan 2010: To view the press release regarding the Hong Kong and Indonesia launch a new cross-border payment-versus-payment click here . Read More »
ACI Annual Report - 2008/09: The Australasian Compliance Institute (ACI) today released its 2008/09 Annual Report. The report provides a comprehensive overview of the organisation and the highlights of the Institute over the 2008/09 period. 2008/09 was the 12 th consecutive year of membership growth with members joining from a diversity of industries within the private, regulatory and government sectors. Martin Tolar,... Read More »
ACI Submission - Department of Climate Change Greenhouse and Energy Reporting Policy: ACI has provided a submission in response to The Department of Climate Changes's invitation for comment for Greenhouse and Energy Reporting Policy. To view a copy of the submission please click here . Read More »
HKMA News Update (Guidelines and Circulars)- 15 Jan 2010: Circular issued by the Securities and Futures Commission (SFC) Regarding Prudent Risk Management on Margin Financing and Compliance with Conditions Imposed on the Listing of the United Company Rusal Limited (the Company) can be found by clicking here . Read More »
New Compliance E-News - January 2010 Edition: Welcome to the new Compliance E-News January 2010 Edition for members. Please click here to view the document. News Highlights : Applications for utilty and state working parties closing soon Registration for March 2010 CCP Residential and CCP Distance courses open now New look and feel Read More »
Compliance E-News - January Articles: Click below to view the full articles posted in the January edition of the ACI Compliance E-news: The Sarbanes-Oxley Act of 2002: what impact has it had on small business firms? by Michelson, Stryker & Thorne Financial crime as a threat to the wealth of nations by Biagioli Tackling risk-based... Read More »
HKMA News Update (Guidelines and Circulars): To view the enhanced monitoring of compliance with the Code of Banking Practice click here . Read More »
SGX Regulator's Column : Proper Trading Conduct In Respect Of Handling Orders: 23 December 2009 - Trading Members and Trading Representatives should exercise particular care in handling large orders, especially those entered above or below the prevailing spread, to facilitate filling an order on either side of the market. Such orders may result in market manipulation and affect market orderliness. An article clarifying the issues with regard to market manipulation was... Read More »
NGER e-News: The Greenhouse and Energy Reporting Office (GERO) extends festive greetings to all those who have been involved in the 2008-2009 reporting period. More than 680 corporations registered to report for the inaugural year of mandatory emission reporting. To view the full e-news click here . Read More »
Media Release - Commerce Commission releases emerging views on input methodologies: The Commerce Commission today released papers detailing the Commission's emerging views on input methodologies for electricity distribution services, gas pipeline services and specified airport services supplied by Auckland, Wellington and Christchurch International Airports. To view the full media release click here . Read More »
Guide for Qualifying Financial Entities published: The Securities Commission today released the first of its guides to assist the financial adviser industry to prepare for the new regulatory regime. The QFE Adviser Business Statement Guide explains the document required to be prepared by a business applying to the Commission to become a Qualifying Financial Entity (QFE). To view the full media... Read More »
SFC's Update Alert - 21 Dec 2009: To view the letter regarding "Consultative Sessions on the Conceptual Framework of the Legislative Proposal to Enhance the Anti-Money Laundering (AML) Regulatory Regime in respect of the Financial Sectors" click here . Read More »
09-265AD ASIC seeks feedback on disclosure requirements for non-standard margin lending facilities: ASIC has today released a Consultation Paper designed to help retail investors better understand the risks involved with non-standard margin lending facilities. To view the full media release click here . Read More »
09-263AD ASIC grants approval to the Financial Ombudsman Service Limited for its new single terms of reference: ASIC has today approved new Terms of Reference (TOR) for the Financial Ombudsman Service Limited (FOS). This will give consumers increased access to the independent financial services dispute resolution body for new complaints received from 1 January 2010. To view the full media release click here . Read More »
09-262AD ASIC releases guidance for credit licensees: ASIC today released further regulatory guidance on the implementation of the National Consumer Credit Protection Act (National Credit Act). This release is the second package of regulatory guidance on the implementation of the National Consumer Credit regime. To view the full media release click here . Read More »
Financial reporting about transparency, not mere compliance: The Securities Commission is urging companies to make transparency the goal of their financial reporting, not mere technical compliance, after the latest round of its monitoring programme showed mistakes continuing to be made in financial reports, despite being highlighted in previous reviews. To view the full media release click here . Read More »
SGX enhances SGXNet templates to foster greater transparency in the marketplace: 17 December 2009 - Singapore Exchange Limited ("SGX") today introduced changes to SGXNet Announcement Templates as part of its ongoing efforts in fostering a transparent and well-informed marketplace. This is to assist investors in retrieving information crucial to their investment decisions and to increase the level of disclosure by issuers. These changes, which will be effective 10 January 2010,... Read More »
ASIC Consultation Paper 121: ACI Submission: ACI has provided a submission in response to ASIC's invitation for comment for Consultation Paper 121: Facilitating Online Financial Services Disclosures. To view a copy of the submission please click here . Read More »
Guidelines on a Sound Remuneration System: ACI has provided a submission to the Hong Kong Monetary Authority on their draft Guidelines on a Sound Remuneration System. To download a copy of the submission please click here . Read More »
ASIC advisories: Friday 11th December: ASIC has today released an updated Regulatory Guide 60 Schemes of arrangement ( RG 60 ) and Consultation Paper 127 Schemes of arrangement: Statements under s411(17)(b) ( CP 127 ). To view this full article click here . The former managing director of gold exploration company, Chameleon Mining NL (CHM), Mr Gregory... Read More »
Updated Regulatory Guide 60 Schemes of arrangement (RG 60): ASIC has today released an updated Regulatory Guide 60 Schemes of arrangement ( RG 60 ). Updated Regulatory Guide 60 Schemes of arrangement (RG 60) RG 60 combines the now superseded Regulatory Guide 60 Schemes of arrangement — s411(17) and Regulatory Guide 142 Schemes of arrangement and... Read More »
Impersonation of AUSTRAC officers: AUSTRAC has been advised by several reporting entities that they have been contacted by individuals impersonating AUSTRAC officers. AUSTRAC has today posted the attached information cricular on their website. To view the notification click here . Read More »
ASIC Media Release: Investing between the flags: The Australian Securities and Investments Commission (ASIC) today launched Investing between the flags, a free practical guide to investing for retail investors. The Investing between the flags guide sets out the basic principles of investing and suggests that people develop and stick to a sound investment plan. To view the full media release click here... Read More »
SGX issues technical specifications to brokers for marking of short-selling orders: 7 December 2009 - Singapore Exchange Limited (SGX) today took another major step towards increased market transparency by making compulsory, marking of all short selling orders. SGX has provided the technical specifications to its members to facilitate this effort. In consultation with the Monetary Authority of Singapore (MAS), SGX will institute marking of short-selling orders in the first half... Read More »
ACI Supports 3rd Anti-Corruption Conference: 3rd Annual Anti-Corruption Asia Congress - 25 – 28 January 2010, Shangri-La, Hong Kong Asia ’s most respected Anti-Corruption Congress is once again taking place in Hong Kong in January 2010, delivering a high-level, action-packed and business-focused programme with even more networking opportunities than ever before! This year,... Read More »
09-239AD ASIC guidance assists industry to get ready for credit: ASIC today released its first package of regulatory guidance to help entities and individuals prepare for the proposed National Consumer Credit regime. To view the rest of the article please click here . Read More »
Media Release- APRA finalises position on remuneration: On the 30 November 2009 the Australian Prudential Regulation Authority (APRA) released its prudential requirements on remuneration for authorised deposit taking institutions (ADIs) and general and life insurance companies. To view the full media release click here . Read More »
ACI Media Release - 24th November 2009: The Chief Executive of the Australasian Compliance Institute, Martin Tolar, has questioned the need for new legislation for the financial planning industry, saying any change in the industry had to come from within. Recommendations made by a federal parliamentary committee into financial services and products include introducing new legislation which would create for financial advisors a fiduciary duty... Read More »
AUSTRAC accepts enforceable undertaking from PayPal Australia: On the 23 November 2009 AUSTRAC announced it has accepted an enforceable undertaking from PayPal Australia Pty Ltd. To view the full media release click here . Read More »
AUSTRAC issues its first remedial direction for non-compliance: AUSTRAC has issued its first remedial direction for non-compliance with Australia's anti-money laundering and counter-terrorism financing (AML/CTF) legislation. To view the full media release click here . Read More »
Commerce Commission - Media Release - Energy companies warned over alleged anti-competitive behaviour: To view the media release on how the energy companies where warned over alleged anti-competitive behaviour click here . Read More »
Parliamentary Committee Report - Inquiry into financial products and services: The Chairman of the Parliamentary Joint Committee on Corporations and Financial Services, Mr Bernie Ripoll MP, tonight tabled the Committee's report Inquiry into financial products and services in Australia. The Committee's report is available online and can be accessed by clicking here . It is now a matter for Government to respond to the... Read More »
Red Tape UnWrap: To view the second issue of Red Tape UnWrap click here . Read More »
HKMA News Update (Guidelines and Circulars) -- 17 Nov 2009: To view the statement issued by Financial Action Task Force on Money Laundering click here . Read More »
HKMA News Update (Legislative Council Issue) - 19 Nov 2009: To view the Legislative Council Issues please click here . Read More »
NGER e-News- AUSTRALIA PASSES EMISSIONS REPORTING MILESTONE: Australian industry has successfully completed an important phase in national greenhouse gas and energy reporting, with the end of the first reporting year under the National Greenhouse and Energy Reporting (NGER) Act 2007. More than 600 registered corporations have produced reports through the Online System for Comprehensive Activity Reporting (OSCAR) for the 2008-2009 reporting period. To view the... Read More »
ACI invites members to participate in Blake Dawson Risk and Compliance Survey 2009: ACI is pleased to extend an invitation to our members to participate in the 2009 Risk and Compliance Survey produced by Blake Dawson. The survey seeks to gain valuable information on your organisations Risk and Compliance activitiesacross a range of industries and in 2008, the results provided a useful insight into the risk and compliance landscape before the advent... Read More »
Media Release - Compliance review of electricity distribution business asset management plans for 2009 released: The Commerce Commission has today released a review of the asset management plans disclosed by electricity distribution businesses for the period beginning 1 April 2009. The Commission notes the continued progress made by many electricity distribution businesses toward achieving best practice in asset management planning. To reda the full press release click here. Read More »
Reforms underway to address financial advisers' performance: Reforms underway will help address poor performance by financial advisers highlighted in the Consumer research released today, says the Commissioner for Financial Advisers, Annabel Cotton. Consumer found most of the financial advisers surveyed gave poor advice and their advice lacked proper analysis of client needs and transparency in disclosing costs and interests. To... Read More »
Food Standards Gazette - Amendment No. 113: Gazettal of amendments to the Australia New Zealand Food Standards Code (the Code) occurs throughout the year after the Ministerial Council notifies FSANZ that it does not need to review its decision on a Standard of a variation to a Standard, or, if after a Second Review by FSANZ, the Ministerial Council accepts or amends a draft... Read More »
Media Release: ASIC grants transitional relief from regulation for funded class actions: The Australian Securities and Investments Commission (ASIC) today announced its intention to grant transitional relief to lawyers and litigation funders involved in legal proceedings structured as funded class actions. To view the full media release click here . Read More »
Instruction Guide: General insurance reporting form validations: The Australian Prudential Regulation Authority (APRA) has released the Instruction Guide: General insurance reporting form validations. To view the electronic copy click here . Read More »
News Update : SGX Makes Available Investor Guides to Listed Companies and Retail Individuals: Singapore Exchange (“SGX”) recently introduced two educational guides, ‘An Investor's Guide To Reading Annual Reports’ and ‘An Investor's Guide To Preparing For Annual General Meetings’, to enhance retail investor knowledge and improve shareholder engagement at annual general meetings (“AGM”). The two Guides*, initially given to only SGX shareholders, are now accessible to listed companies and retail investors... Read More »
Best lending practices for residential mortgage loans: As mentioned in my letter of 23 October 2009 on prudential measures for residential mortgage loans (RML), the HKMA has recently completed a round of thematic examinations on asset quality of selected authorised institutions (AIs), covering in particular, their residential mortgage lending business. To view the full HKMA news update click here . Read More »
ASIC Advisory: Court approves compensation for Westpoint investors: The Federal Court of Australia has approved the settlement of a compensation claim, initiated by ASIC, to clients who were advised by Professional Investment Services Pty Ltd (PIS) to invest in the failed Westpoint Group. Under the settlement, PIS must pay eligible investors (Group Members) $5.9 million. To view the full article click here . Read More »
�Failing firm� guidelines issued by Commerce Commission: The Commerce Commission today released guidelines on how applications for mergers and acquisitions involving the ‘failing firm’ argument will be treated. The guidelines are designed to assist businesses and their legal representatives by explaining how the Commission will assess claims that the target firm (or division of a firm) is failing as well as outlining the types of... Read More »
ACCC launches Unit Man - helping consumers understand unit pricing: A caped calculator character called Unit Man appears soon in supermarkets and grocery catalogues across Australia to help consumers better understand unit pricing. To view the full article click here . Read More »
MEDIA RELEASE - ACI & SAI Global Announce New Regulatory News Weekly: Thursday 28 th of October 2009 The Australasian Compliance Institute (ACI) has partnered with SAI Global to provide access to a new complimentary weekly regulatory news update available exclusively to ACI members. A mixture of extracts from SAI Global’s news feeds, the ACI Regulatory News Weekly features a selection of informative articles across a... Read More »
ACI members eligible for discounted rates for FCPA Conference - 19 November 2009: ACI is pleased to advise members that they are eligible to receive discounted rates to attend the upcoming one day Foreign Corrupt Practices Act (“FCPA”) conference at the Mandarin Oriental in Hong Kong on Thursday 19 November 2009. Only USD300 for ACI members. This conference covers a review of the legislation, recent cases and trends from SEC... Read More »
Media Alert: ASXMS Annual Report 2009: To view ASXMS Annual Report 2009 click here . Read More »
09-207AD Updated regulatory guide regarding acquisitions by a broker as principal: ASIC has released an updated version of Regulatory Guide 31 Acquisitions by a broker acting as principal for client facilitation purposes. To view the updated version click here . Read More »
09-207AD Updated regulatory guide regarding acquisitions by a broker as principal: ASIC has released an updated version of Regulatory Guide 31 Acquisitions by a broker acting as principal for client facilitation purposes. To view the updated version click here . Read More »
09-207AD Updated regulatory guide regarding acquisitions by a broker as principal: ASIC has released an updated version of Regulatory Guide 31 Acquisitions by a broker acting as principal for client facilitation purposes. To view the updated version click here . Read More »
ASIC Advisory: Updated compensation and insurance arrangements for licensees: ASIC today released an updated version of Regulatory Guide 126 Compensation and insurance arrangements for AFS licensees To view this full article as well as the updated version of the Regulatory Guide click here . Read More »
HKMA News Update (Guidelines and Circulars): To view Prudential measures for residential mortgage loans click here . Read More »
ASIC Advisory: Significant benefits from mutual recognition of securities offerings: Recent research has found that issuers using the trans-Tasman mutual recognition of securities offerings regime have saved on compliance costs for offering securities in the host country by up to 95 percent in some cases. To view this full release click here . Read More »
Productivity Commission: PC update: Issue 45 of the Commission’s quarterly newsletter, pc update , is now available. To view the issue please click here . This issue contains articles on: � Strengthening evidence-based policy Productivity Commission annual policy roundtable � Overcoming Indigenous... Read More »
ASIC releases second report and proposals on unlisted, unrated debentures: ASIC has released its second report on the unlisted, unrated debenture market and a consultation paper outlining proposals to improve the benchmarks under ASIC's Regulatory Guide 69 Debentures: Improving disclosure for retail investors . To view the full released information click here . Read More »
Congratulations - ACI Award Recipients: ACI Award Recipients - October 2009 The Australasian Compliance Institute would like to congratulate our award recipients from the ACI 13th Annual Conference 2009. These recipients were chosen for their outstanding contribution to the compliance profession. ACI Honorary Fellow Award Winner: Dr. Katarina Hackman Highly... Read More »
Media Release - ACI Announces new Board and President: Media Release 19th October 2009 The Australasian Compliance Institute (ACI) is pleased to announce the election of Peter Whyntie as its new President. Peter is an Executive Manager, Risk Management & Compliance, inCBA’s Wealth Management business. Peter has over 25 years experience in the financial services in both the public and private... Read More »
Securities Commission website update: The Securities Commission is warning company directors not to sign off financial statements that do not comply with New Zealand International Financial Reporting Standards (NZ IFRS), because they could be failing in their duty to inform investors. Click here to see news release . Read More »
Media Release - Commerce Commission consults on Telecom Wholesale loyalty offers: As part of its investigation into alleged breaches of the Separation Undertakings by Telecom’s Wholesale business unit, the Commerce Commission is seeking submissions on its preliminary views on the meaning of the ‘equivalence of inputs’ and ‘non-discrimination’ obligations contained in the Undertakings. To view this full media release click here . Read More »
NEW ACI WHITE PAPER: Recognition for Compliance Professionals: MEDIA RELEASE Tuesday 13 th of October 2009 ACI announces new white paper Recognition for Compliance Professionals The Australasian Compliance Institute (ACI), Australasia’s leading industry body for the compliance and risk profession, is pleased to announce the release of a new white paper... Read More »
Financial Ombudsman Service 2008-2009 Annual Review: The Financial Ombudsman Service 2008-2009 Annual Review has been released. To view the review please click here . Read More »
KEYNOTE ADDRESS BY MR HSIEH FU HUA, CEO OF SINGAPORE EXCHANGE, AT THE CORPORATE GOVERNANCE SEMINAR BY THE CHUBB GROUP OF INSURANCE COMPANIES ON 7 OCTOBER 2009: To view the keynote addreses by Mr Hsieh Fu Hua, CEO of Singapore Exchange click here . To view other speaches from SGX click here . Read More »
ACI in the Media September: The harmonisation of national, local and state-based regulation Open Forum – 03/09/09 By Martin Tolar The byline was drafted by Martin and reviewed by Howorth, and pitched line on the back of criticism COAG was receiving on its federal-state reform process recommendations. The opinion piece attributed... Read More »
ASIC releases proposed guidance on regulation of clearing and settlement facilities: The Australian Securities and Investments Commission (ASIC) today released proposed guidance on the regulation of clearing and settlement (CS) facilities. To view the full media release click here . To view the proposed guidance click here . Read More »
Circular to All Licensed Corporations, Responsible Officers, Licensed Representatives, Registered Institutions and Associated Entities Regarding the Launch of the SFC Online Portal: To view this update click here . Read More »
ASIC extends transitional period for compliance with group purchasing bodies class order: The following information has been released by the Australian Securities and Investments Commission. To view this information click here . Read More »
New status description for trade mark applications: The Intellectual Property Office of New Zealand (IPONZ) has introduced a new status for Trade Mark Applications called “45 – Ready for examination”. This new status is intended to make it easier for clients to track the progress of their application online using the View IP History service. To view this new status click here... Read More »
ASIC releases ASX market assessment report: The following information has been released by the Australian Securities and Investments Commission (ASIC) to view this information click here . Read More »
Notice of Annual General Meeting & Election of Directors 2009: The Annual General Meeting of the Australasian Compliance Institute Incorporated has been convened by resolution of the Board pursuant to section 8 of the Constitution and Rules. Date: 12 October 2009 Time: ... Read More »
Media Release- Commerce Commission to investigate resale services: The Commerce Commission today announced that it will commence an investigation into whether the services Telecom Corporation of New Zealand provides to other telecommunications companies to be resold should be deregulated. To view the full media release click here . Read More »
Report on the effectiveness of New Zealand's Securities Commission: An independent review on the effectiveness of the Securities Commission was carried out by Michel Prada, former Chair of France’s Securities Commission and Neil Walter, former Secretary of Foreign Affairs and Trade and former Chair of New Zealand’s Environmental Risk Management Agency. To view this report click here . Read More »
FSANZ invites public comment on changes to food laws: Food Standards Australia New Zealand (FSANZ) today invited individuals and organisations with an interest in the regulation of food to provide information and comment on four possible changes to the Australia New Zealand Food Standards Code . To view the full media release click here . Read More »
Amendments to Prevention of Money Laundering and Terrorist Financing Guidance Note: To view these amendments click here . Read More »
Regulation View - 2009 Benchmark Report about implementation of Regulation in organisations: Members and guests of ACI may recall participating in a research survey project about the implementation of regulations in organisations and ACI would like to extend a thank you again to everyone who participated in this important study. This research, the first of its type in Australia, investigated how organisations implement new or amended regulations and what influences... Read More »
Access to Financial Ombudsman Service - News Releases & Newsletter: The Financial Ombudsman Services (FOS) is a regulatory body which provides service to the financial services sector to resolve disputes that arise between consumers and participating financial service providers. FOS also provides a number of services to the general community, including media releases and their quarterly e-news publications. For access to the current e-newsletter and media... Read More »
HKMA News Update (Guidelines and Circulars): To view the latest news on Residential Mortgage Loans click here . Read More »
ASIC releases responsible rumour handling proposals: ASIC today released a Consultation Paper, Responsible handling of rumours, outlining some proposed principles and guidelines designed to assist market participants in their dealing with market rumours. To view the the media release click here . To view the consulation paper click here . Read More »
Measures to Ensure a Stable and Sustainable Property Market: Mr Mah Bow Tan, the Minister for National Development, announced today that the Government would take the following measures to ensure a stable and sustainable property market: a) Reinstatement of the Confirmed List for the 1st Half 2010 Government Land Sales (GLS) Programme. b) Removal of the Interest Absorption Scheme (IAS) and Interest-Only Housing Loans (IOL),... Read More »
AML/CFT Bill reported back to the House: The Foreign Affairs, Defence and Trade Committee has examined the Anti-Money Laundering and Countering Financing of Terrorism Bill and recommends that it be passed with the amendments shown. To view the bill click here . Read More »
SFC's Update Alert - 11 Sep 2009: The SFC's have realised the following updates: (1) United Nations (Anti-Terrorism Measures) Ordinance & United Nations Sanctions (Afghanistan) Regulation (2) US President’s Executive Order 13224 To view these updates click here . Read More »
HKMA News Update (Guidelines and Circulars): The following has been uploaded on the HKMA website: Guidelines and Circulars United Nations (Anti-Terrorism Measures) Ordinance and List of Names for Suspicious Account Reporting To view them click here . Read More »
ACI Submission to AUSTRAC regarding Independent Reviews: A Working Party of ACI members has put together a submission to AUSTRAC in regard to the conduct of Independent Reviews of AML/CTF Part A Programs. To obtain a copy of the submission click here . Thank you again to the volunteers on this Working Party for so generously giving their time and intellectual input to... Read More »
NewsFlash : SGX Regulator's Column - "COMPANIES SEEKING DELISTING MUST PROVIDE REASONABLE EXIT OFFER TO SHAREHOLDERS": To view the Regulators coloumn piece on "COMPANIES SEEKING DELISTING MUST PROVIDE REASONABLE EXIT OFFER TO SHAREHOLDERS" click here . Read More »
Commerce Commission publishes draft revised leniency policy: The Commerce Commission is seeking feedback from interested parties on its draft revised leniency policy on cartels. To view the full media release click here . To view the draft leniency policy and process guidelines click here . To view the draft leniency policy explanatory note click here . Read More »
ACI Invites members to nominate for the Board: As we approach the AGM on the 12th of October, it is time for ACI's members to elect representatives for the Board for 2009. Under the Constitution, a minimum of two vacancies are required to be made available for nomination and election each year. This year, due to the completion of the terms of several of the Board... Read More »
Reforms to the Supervision of Australia�s Financial Markets: The Australian Securities Exchange (ASX) acknowledges the announcement by the Australian Government today that the Australian Securities and Investments Commission (ASIC) will assume responsibility for the supervision of real-time trading on Australia's domestic licensed markets. To view the full media release click here . Read More »
ASIC media release: ASIC welcomes Government?s announcement on new supervisory arrangements for financial markets: The Treasurer, the Hon Wayne Swan MP and the Hon Chris Bowen MP, Minister for Financial Services, Superannuation and Corporate Law announced today that the Government will look to the Australian Securities and Investments Commission (ASIC) to take over the supervision and surveillance of financial markets and market participants effective third quarter 2010. To view the full media... Read More »
HKMA News Update (Guidelines and Circulars): To view the update click here . Read More »
ACCC issues draft pricing principles, indicative prices for fixed line services: The Australian Competition and Consumer Commission today issued its draft pricing principles and indicative prices for six fixed line wholesale services for the next three years. To view the draft pricing click here . Read More »
Circular Clarifying the Licensing Requirements arising out of the Promotion: This circular is published to clarify the views of the Securities and Futures Commission ("SFC") in relation to the issue of whether insurers, corporate insurance brokers and individuals who are insurance agents or insurance brokers (such individuals collectively "insurance intermediaries") are required to be licensed by the SFC under the provisions of the Securities and Futures Ordinance (Cap. 571)... Read More »
09-145AD Changes to form-lodging arrangements for financial reporting class order relief: ASIC has announced changes to form-lodging arrangements for companies wishing to take advantage of relief under Class Order 98/98 Small proprietary companies which are controlled by a foreign company but which are not part of a large group [CO 98/98] and Class Order 98/1418 Wholly-owned entities [CO 98/1418]. These changes respond directly to concerns raised... Read More »
Speech: Enhancing the competitiveness of financial services - lessons learnt: APRA has published the opening remarks to the IFSA Conference, Enhancing the competitiveness of financial services lessons learnt and opportunities for improvement given by John Laker on Thursday 6 August 2009. To view the speech click here . Read More »
Full Year Financial Results - Robust performance in a difficult market: To view the SGX News Release, "Robust performance in a difficult market" , click here . Read More »
Commerce Commission Media Release - Commerce Commission confirms dates for input methodologies conference: The Commerce Commission’s input methodologies conference will be held in Wellington from Tuesday 15 to Friday 18 September 2009. The conference will enable the Commission to test written submissions received and advance its understanding of the key points of difference between submitters and the Commission. The conference is part of the Commission’s consultation process on the implementation of the... Read More »
Media Release - ACI & Complinet announce free offer exclusive to ACI members: 5th of August 2009 The Australasian Compliance Institute has partnered with Complinet to provide new benefits and additional support for ACI Members and their organisations through the offer of a free 1-year subscription to Complinet Complete for the APAC region, and the development of a new ACI Community site. In response to... Read More »
RBNZ news release - First exemption notice for deposit takers: The Reserve Bank announced today that it is exempting certain deposit takers from having a mandatory credit rating, under Part 5D of the Reserve Bank of New Zealand Act 1989. This exemption is available if the consolidated liabilities of the deposit taker are less than $20 million (measured as an average over a 12-month period). The exemption... Read More »
ASIC gives guidance on unsolicited credit and debit cards: The Australian Securities and Investments Commission (ASIC) today released Regulatory Guide 201 Unsolicited credit cards and debit cards (RG 201). The Regulatory Guide clarifies ASIC's interpretation of the scope of section 12DL of the Australian Securities and Investments Commission Act 2001 which prohibits a person from sending unsolicited credit cards and debits... Read More »
FSANZ Statement APEC Food Safety Cooperation Forum Singapore 2009: Statement: APEC Food Safety Cooperation Forum Singapore 2009 Steve McCutcheon Food standards Australia New Zealand CEO 6 August 2009 Food Standards Australia New Zealand’s CEO, Steve McCutcheon, made the following statement about the Second APEC Food Safety Cooperation Forum that has just finished in Singapore.... Read More »
Risk Australia 2009 - 25th of August, Sydney: Proudly supported by ACI, Asia Risk magazine is back to Sydney on 25 August for our annual Risk Australia 2009 conference, bringing you more new ideas, more speakers and new opportunities to mix with the most senior risk management and derivatives trading professionals. Conference highlights include regulatory keynote by Jim Murphy, Executive Director,... Read More »
ASX Media Release - First Review of Corporate Governance Reporting under Revised Principles & Recommendations: ASX Markets Supervision (ASXMS) has conducted the first review of corporate governance reporting under the Revised Principles and Recommendations for listed entities with a 31 December balance date. To view the full media release click here . Read More »
22 July 2009 SGX Regulator's Column : Strengthened Framework to Better Manage Settlement Risks and Failed Securities Delivery: In September 2008, SGX introduced penalties to address failed securities delivery in the ready and buying-in markets for continued orderly and timely settlement. Failed securities delivery potentially poses a major risk to the settlement system. It is in the interest of the market to avoid such failures. To view the full article click here . Read More »
Media Release - Guidelines on carbon claims and the Fair Trading Act released: Guidelines on carbon claims and the Fair Trading Act released The Commerce Commission has released guidelines which inform businesses about their obligations surrounding carbon offset and neutrality claims and how they are affected by the Fair Trading Act. “These carbon claim guidelines will supplement the green marketing guidelines released by the Commission last year. Together... Read More »
Media Release - Commerce Commission releases draft guidelines for the telecommunications sector: Commerce Commission releases draft guidelines for the telecommunications sector The Commerce Commission has released draft guidelines to provide greater clarity for the telecommunications industry on how the Commission exercises its powers and functions under the Telecommunications Act. The guidelines set out the key factors that the Commission takes into account in making regulatory decisions for the telecommunications... Read More »
HKMA News Update- 13 Jul 2009: The following has been uploaded on the HKMA website: Guidelines and Circulars Strengthening Security Controls for Internet Banking Services. To view this section click here . Selling of Investment Products. To view this section click here . For more information, please visit the homepage of the Hong Kong Monetary... Read More »
HKMA News Update 17 Jul 2009: The following has been uploaded on the HKMA website: Guidelines and Circulars Race Discrimination Ordinance and Amendments to Supplement to Guideline on Prevention of Money Laundering To view these uploads click here . Read More »
Productivity Commission: PC update: Issue 44 of the Commission’s quarterly newsletter, pc update , is now available. To view the issue click here . This issue contains articles on: � Government assistance to industry � Executive pay inquiry � ... Read More »
Financial Ombudsman Service eNews , Issue 3: To view Financial Ombudsman Service eNews , Issue 3, click here . Read More »
HKMA Announcement - Consultation on Enhancement of AML Regulatory Regime for� Financial Sectors: 14 July 2009 Consultation on Enhancement of AML Regulatory Regime for Financial Sectors The Financial Services and the Treasury Bureau (FSTB) has recently launched a three-month public consultation on its legislative proposals to enhance the anti-money laundering regulatory regime for the financial sectors. The proposals include codifying thecustomer due diligence and record-keeping... Read More »
ACI Supports 2nd Annual Anti-Corruption South Asia Summit: ACI is pleased to support the 2nd Annual Anti-Corruption South Asia Summit -to be held on the 29 September 2009 – 1 October 2009 in Singapore. This year's programme will look beyond the regulations and focus on how to implement anti-corruption compliance policies in South Asia. Cases studies from leading MNCs operating in South Asia including: • GENERAL... Read More »
ASIC consults on licensing requirements for credit licensees: ASIC has today released the first package of policy proposals on the implementation of the proposed National Consumer Credit regime. These proposals outline how ASIC will approach the administration of the new general conduct obligations for credit licensees, and compensation and financial resources provisions under the National Credit Bill. This first package comprises two documents: Consultation... Read More »
Follow up submission to Senate Committee: ACI was invited by the Senate Economics Legislation Committee to submit additional material for their consideration of the proposed amendments to the Corporations Act to improve the transparency of termination payments. You can obtain a copy of ACI's submission to the Committee here . This PDF also includes the original submission to Treasury provided by ACI members.... Read More »
Non-bank risk management guidelines released: The Reserve Bank today released its risk management programme guidelines for non-bank deposit takers. "The development of these regulations is another positive step forward in implementing the new prudential regime for non-banks which is aimed at improving the future resilience of New Zealand's non-bank financial sector," said Reserve Bank Deputy Governor Grant Spencer. Deposit taking finance companies,... Read More »
Improved access to simple advice for superannuation fund members: ASIC today released Regulatory Guide 200 Advice to super fund members, to enable super fund trustees and financial advisers to give more information and advice to members about the member's existing interest in their super fund. To view the full media release click here . Read More »
Commerce Commission consults on 'failing firms' guidelines: The Commerce Commission has today released draft supplementary guidelines on how merger and acquisitions applications involving the ‘failing firm’ argument will be treated. To view the full media release click here . To view the draft click here . Read More »
ACI In The Media - June 2009: JUNE COVERAGE: ACI is pleased to provide the latest overview of recent articles and media coverage featuring ACI in the month of June. New study to focus on implementation of regulations Complinet – 9/06/09 By Trond Vagen The Australasian Compliance Institute has,... Read More »
ACI Supports Risk2009: 6th Annual Risk Management Conference: ACI is pleased to support the Risk2009: 6th Annual Risk Management Conference - 24 - 26 August 2009, Crowne Plaza, Sydney Risk2009 will provide a senior level forum to deliberate on effective risk management and navigate the most critical risks of the year: the global recession, ERM, swine flu, financial fraud and insolvency. Hear from ... Read More »
Review of Trading by Directors in �Blackout� Period - Q1 2009: The Australian Securities Exchange (ASX) has today released its latest review of securities trading by directors during the 'blackout' period. To view the full media release click here . Read More »
Commerce Commission releases draft recommendation to regulate mobile termination prices: The Commerce Commission today released its draft report recommending that the mobile termination prices should be regulated. The Commission also recommended that the undertakings submitted in lieu of regulation by Vodafone, Telecom and 2degrees should be rejected. To view the media report click here . To view the final draft click here . Read More »
Complinet Article - ACI sets out case for compulsory compliance officers: 26th of June 2009 ACI sets out case for compulsory compliance officers The Australasian Compliance Institute has called on the government to make it compulsory for major listed firms, government agencies and licensed entities to appoint a qualified compliance professional to ensure they can meet their regulatory responsibilities. The ACI has taken the position that,... Read More »
ASIC review of 30 June 2009 financial reports: To view ASIC review of 30 June 2009 please click here . Read More »
Anti-Money Laundering and Countering Financing of Terrorism Bill introduced today: Today (25 June 2009) the Anti-Money Laundering and Countering Financing of Terrorism Bill AML/CFT Bill) was introduced into Parliament. The Bill will be available shortly on this following website: www.parliament.nz . Read More »
SGX REPRIMANDS CHINA YONGSHENG LIMITED: SGX REPRIMANDS CHINA YONGSHENG LIMITED 1. Singapore Exchange (“The Exchange”) reprimands China Yongsheng Limited (the “Company”) for breaching Listing Rule 703 which requires immediate disclosure of material information. The Company failed to disclose the acquisition of a significant parcel of land in Suzhou, PRC (the “Acquisition”) until queried by the Exchange. This Acquisition committed... Read More »
Market disclosure measures to enhance capital raising and continuous disclosure by unlisted entities: The following information has been released by the Australian Securities and Investments Commission (ASIC): AD09-110 New market disclosure measures to enhance capital raising and continuous disclosure by unlisted entities To view the information click here. Read More »
Key Finding Of 6th Singapore Board Of Directors: SINGAPORE, 17 June 2009 - The Singapore Institute of Directors, in conjunction with Singapore Exchange, Aon Consulting (Global Research Centre), Egon Zehnder International and PricewaterhouseCoopers today announced the findings of their latest survey on Board practices among listed companies in Singapore. To view the key findings of the survey click here . Read More »
Media Release - Australasian Compliance Institute and Standards New Zealand Launch New Australian/New Zealand Compliance Standard: SYDNEY, Aust. ― June 16, 2009 – The Australasian Compliance Institute (ACI) and Standards New Zealand will launch a newly published compliance programmes standardat events in Auckland and Wellington next week. The standard, NZS/AS 3806, allows organisations to benchmark their compliance and risk frameworks. It provides New Zealand public and private sector organisations with... Read More »
SGX Proposes Revisions To CDP Clearing Fund Structure And Introduction Of Large Exposure Collateralisation For Securities: 15 June 2009 - Singapore Exchange Limited ("SGX") is proposing to revise the Central Depository Limited ("CDP") Clearing Fund structure, and introduce collateralisation of large securities settlement exposures of Clearing Members. To view the media release click here . To view the public consolation click here . Read More »
ASIC updates guidance on paperless issues and transfers under a global debenture: The following information has been released by the Australian Securities and Investments Commission (ASIC): 09-108AD ASIC updates guidance on paperless issues and transfers under a global debenture To view the update click here . Read More »
Opening Statement to the Senate Standing Committee on Economics: The Opening Statement given by Chairman John Laker to the Senate Standing Committee on Economics on Thursday 4 June in Canberra has been published on the APRA website today. Electronic copies of the Opening Statement are available by clicking here . Read More »
ACI Submission - APRA proposed extensions to governance requirements: ACI has provided a submission to APRA in response to the invitation for comment in regard to proposed extensions to governance requirements for APRA regulated institutions. A copy of the submission can be downloaded here . Read More »
ACI Submission - APRA Draft PPG 234 - Management of IT Risk: ACI has provided a submission to APRA in response to the invitation for comment in regard to the draft Prudential Practice Guide 234 - Management of IT Risk. A copy of the submission can be downloaded here . ACI wishes to thank volunteers involved in the writing and review of this submission. Read More »
Australasian Compliance Institute and University of Technology, Sydney Launch Landmark Study into Implementation of Regulations: SYDNEY, Aust. ― June 5, 2009 – The University of Technology, Sydney, in conjunction with the Australasian Compliance Institute (ACI), has launched a landmark research project to provide insights to industry and regulators about the implementation of regulations. The study, which is also supported by the Safety Institute of Australia (SIA), is the first of its... Read More »
Securities Commission website update: The Securities Commission's Statement of Intent for 2009-2012 is now available on the Commission's website . Read More »
Principles for sound stress testing practices and supervision: The Basel Committee on Banking Supervision (BCBS) has recently issued a set of Principles for Sound Stress Testing Practices and Supervision to view a copy of these principles please click here . Read More »
ACI Submission - Treasury Corps Amendment - Improving Accountability on Termination Payments: ACI has provided a submission to Treasury in response to the invitation for comment in regard to proposed amendments to the Corporations Act to improve the accountability on Termination Payments. A copy of the submission can be downloaded here . ACI wishes to thank volunteers involved in the writing and review of this submission. Read More »
ASIC LAUNCHES ONLINE INSOLVENCY PORTAL: The Australian Securities and Investments Commission (ASIC) has launched a new online portal specifically designed to meet the needs of stakeholders likely to be impacted by corporate insolvency. To view the full media realise, as well as where to access to portal click here . Read More »
ACI Submission to Treasury in regard to Tax Law Amendment for Prescribed Private Funds: ACI has today provided comment on the Exposure Draft in regard to the Tax Laws Amendment (Prescribed Private Funds) Bill 2009. To obtain a copy of ACI's submission click here . Read More »
Media Release - Australasian Compliance Institute Calls for Tighter Control of Executive Bonuses via KPIs Linked to Corporate Governance: Australasian Compliance Institute Calls for Tighter Control of Executive Bonuses via KPIs Linked to Corporate Governance SYDNEY, Aust. ― May 27, 2009 – The Australasian Compliance Institute (ACI) has called for tighter control of executive bonus payments via the introduction of Key Performance Indicators (KPIs) directly linked to industry-benchmarked governance frameworks. In a... Read More »
ACCC WEB: The following items, have been updated on the ACCC website: Media centre � The conduct of cartel litigation: the ACCC enforcement perspective on serious cartels - some key issues and practical considerations � Mortgage and finance... Read More »
Amendments to GPS 114 Capital Adequacy: Investment Risk Capital Charge: The following information is new on the APRA website: The Australian Prudential Regulation Authority (APRA) has amended general insurance Prudential Standard GPS 114 Capital Adequacy: Investment Risk Capital Charge (GPS 114) attachment A, paragraph 5 at page 18. The amendments are minor in nature and are designed to clarify APRA's prudential requirements in... Read More »
ASIC LIFTS BAN ON COVERED SHORT SELLING OF FINANCIAL SECURITIES: The following information has been released by the Australian Securities and Investments Commission (ASIC), to read the full media realise, click here . Read More »
Review of Cost Recovery Arrangements: The APVMA is in the final stages of the review of cost recovery arrangements. The APVMA has carefully considered the issues raised by stakeholders in submissions on the Draft Cost Recovery Impact Statement (CRIS) and is preparing the Final CRIS. The release of the Final CRIS was planned for April/May 2009, however given the complexity... Read More »
AD09-92 ASIC consolidates guidance on conduct and disclosure obligations for financial advisers: ASIC has today released details in regard to consolidating guidance on conduct and disclosure obligations for financial advisers by releasing an updated Regulatory Guide Licensing: Financial product advisers – Conduct and disclosure ( RG 175 ). Further details are available at the ASIC website by clicking here . Read More »
Survey of the OTC Derivatives Market in Australia: Today the Australian Prudential Regulation Authority, the Australian Securities and Investments Commission, and the Reserve Bank of Australia released the Survey of the OTC Derivatives Market in Australia report. To view the full report click here. Read More »
Insurance Group Regulation A Comparative Case Study: Australia and the United States: APRA member John Trowbridge delivered a speech to the National Association of Insurance Commissioners International Issues Forum in Washington. APRA has published Trowbridge speech on their website. To read the speech click here . Read More »
ACI Submission - Treasury - The National Consumer Protection Bill 2009: ACI has provided a submission in response to Treasury's invitation for comment in regard to the National Consumer Protection Bill 2009. To view a copy of the submission please click here . Read More »
09-88AD ASIC improves dispute resolution schemes: On the 18 May 2009 ASIC has improved consumer access to dispute resolution schemes so that disputes can be resolved more quickly and efficiently, saving time and money for industry and consumers. To view the scheme click here . Read More »
HONG KONG MONETARY AUTHORITY: On the 21 st of May 2009 The HONG KONG MONETARY AUTHORITY released their presentation briefing to the Legislative Council Panel on Financial Affairs. To view this presentation click here. Read More »
ACI Submission - Productivity Commission Consultation - Regulation of Director & Executive Remuneration in Australia: ACI has provided a submission in response to The Productivity Commission's invitation for comment in regard to the Regulation of Director & Executive Remuneration in Australia. To view a copy of the submission please click here . Read More »
Kia ora koutou: In April Cabinet considered a suite of papers setting out anti-money laundering and countering the financing of terrorism (AML/CFT) policy proposals. These proposals will be reflected in the AML/CFT Bill which we hope to have introduced and before a Select Committee in the coming months. As a part of AML/CFT reform, Cabinet has agreed to the three... Read More »
HKMA Working Paper: The HKMA realised a working paper regarding Measures of Trend Inflation in Hong Kong. To view the working paper click here . Read More »
IOSCO Interim consultation report on unregulated markets and products published: ASIC has today released the IOSCO Consultation REport on Unregulated Markets and Products. On 6 May 2009 the International Organization of Securities Commissions’ (IOSCO) Technical Committee Task Force on Unregulated Markets and Products, published its Consultation Report for public comment. The Consultation Report examines ways to introduce greater transparency and oversight in unregulated financial markets and products... Read More »
ACI Latest Submission - APRA Management of Conflicts of Interest - RSE Licensee (SPG 521): The Australasian Compliance Institute (ACI) recently completed a submission and made comment on behalf of our members on the draft of Australian Prudential Regulatory Authority Prudential Practice Guide SPG 521 - Conflicts of Interest. (SPG 521). To download the submission click here. Read More »
Update on Commerce Commission bank break fees investigation: The Commerce Commission has completed the first part of its investigation into banks' break fees. To read the Media Release please click here . Read More »
ACI supports newly adopted NZS/AS 3806 � Compliance Programmes Standard: ACI is pleased to support the newly published joint New Zealand and Australian standard for Compliance – the NZS/AS 3806. The Standard helps organisations to develop a compliance programme that demonstrates commitment to compliance with legislative requirements, industry codes, and organisational standards, as well as standards of good corporate governance, ethics, and community expectations. In... Read More »
ACI launches the new 2009 Benchmarking and Salary Survey for Compliance Professionals: The Australasian Compliance Institute is pleased to launch its newly developed 2009 Annual Benchmarking and Salary Survey for members. Designed to gather key data regarding the levels of remuneration, education and qualification of Compliance Professionals globally, the salary survey is in its 7 th year of existence. ACI is delighted to announce additional benefits to this year’s survey... Read More »
09-70AD ASIC issues report on relief applications decided between August to November 2008: ASIC today released a report outlining recent decisions on applications for relief from the corporate finance, financial services and managed investment provisions of the Corporations Act (the Act) between 1 August and 30 November 2008. The report, Overview of decisions on relief applications (August to November 2008) (the Report) provides an overview of the applications... Read More »
New Zealand Commerce Commission Draft Guidelines for Credit Fees Submission: On April 1 2009, the Commerce Commission released draft guildeines which inform creditors and consumers about the Commission's approach to enforcing the fees provisions under the Credit Constracts and Consumer Finance Act. The draft guidelines are available for download from the Commerce Commission website: www.comcom.govt.nz ACI provided a submission in regard to the draft, a... Read More »
Notification of Amendments to NGER Act 2007 and NGER Regulations 2008: Commencement of amendments to the National Greenhouse and Energy Reporting Regulations 2008 Amendments to the National Greenhouse and Energy Reporting Regulations 2008 commenced on 15 March 2009 . The amendments were required as a result of the passage of the National Greenhouse and Energy Reporting Amendment Act 2008 , and also... Read More »
Securities Commission bans advertising for Propertyfinance: The Securities Commission has banned advertisements by Propertyfinance Securities Limited (PFSL) for a proposed restructure of its moratorium arrangements. See news release . Read More »
Recent climate change announcements: The government recently made two announcements relating to significant climate change initiatives. MED made a contribution to both of these. The 2009 Net Position Report for the first commitment period of the Kyoto Protocol (2008-2012) showed contrasting results from the previous year. MED plays a key role in preparing the report by providing projections... Read More »
Off market transfer of securities to fictitious persons: On Friday the 17th of April the Australian Securities and Investments Commission (ASIC) reminded investors that purporting to transfer securities to fictitious persons is an offence. To read the full media realise click here . Read More »
How short-selling activity affects liquidity of the Hong Kong stock market: On the 17 of April 2009 Securities and Future Commission released a summary on how short-selling activity affects liquidity of the Hong Kong stock market. To read the full summary click here . Read More »
Concerted Efforts to Strengthen Marketplace: On the 3rd of April 2009 The Singapore Exchange (SGX), in its Regulator's Column, has provided updates on its efforts to strengthen vigilance and corporate governance practice among listed companies. To view the full statement, click here . Read More »
New Rule for Trading Partly Paid Securities: On the 6th April 2009, the Australian Securities Exchange (ASX) stated that they will introduce a market rule to require brokers to alert retail clients of the need to inform themselves of the rights and obligations associated with trading partly paid securities. To read the full media release click here . Read More »
Update of Changes to Minimum Core Capital Requirements: The Australian Securities Exchange (ASX) on the 7th of April realised a Media Release regarding the update on minimum core capital requirements of ACH's1 clearing participants. To view this release click here . Read More »
Circular to Licensed Corporations and Associated Entities Hong Kong: A Circular to Licensed Corporations and Associated Entities in regard to Anti-Money Laundering / Combating Terrorist Financing and the United Nations (Anti-Terrorism Measures) Ordinance, was released on the 15th of April 2009. To view the circular click here . Read More »
MR09-62 Term deposits: ASIC releases an investor and consumer guide and announces a review: Thursday 16 April 2009 ASIC today released an investor and consumer guide on term deposits to help investors and consumers get the best out of their term deposits. ASIC is also announcing that it will be conducting a ‘health check’ in the form of a marketing and disclosure review of the term deposit market. ... Read More »
Australian food businesses urged to update their food recall plans: FSANZ has launched an updated Food Industry Recall Protocol: a Guide to Writing a Food Recall Plan and Conducting a Food Recall. FSANZ Chief Executive Officer, Steve McCutcheon, said the national system for managing food recalls in Australia relies heavily on food businesses having appropriate plans in place to respond quickly and effectively to food safety and related... Read More »
Press release - ASIC releases investor and consumer guide and announces a review: 16th of April 2009 ASIC today released an investor and consumer guide on term deposits to help investors and consumers get the best out of their term deposits. ASIC is also announcing that it will be conducting a ‘health check’ in the form of a marketing and disclosure review of the term deposit market. To... Read More »
Letter to editor - SMH - Bring on the battle, but beware the risks of the war: Letter to the editor - Sydney Morning Herald - 7th of April 2009 Bring on the battle, but beware the risks of the war There is no doubt the world's economy is suffering badly from a series of problems which appear to have been greatly exacerbated by the abandonment of prudent risk policies by a... Read More »
ACI supports the Anti-Corruption China 2009 conference: ACI is delighted to support the upcoming Anti-Corruptiom China 2009: Anti Corruption & FCPA Compliance China Summit 2009 19-21 May 2009, Beijing, China Presented by Beacon at the Regent Beijing. Conference Highlights: • Featuring 8 practical case studies from leading in-house counsel. Hear unique, in-depth accounts from in-house experts on how they have built best-practice anti-corruption... Read More »
Press release - Commerce Commission releases draft guidelines for credit fees: Issued 01 April 2009/no 123 Commerce Commission releases draft guidelines for credit fees The Commerce Commission has today released draft guidelines which inform creditors and consumers about the Commission’s approach to enforcing the fees provisions under the Credit Contracts and Consumer Finance Act. The Commission is consulting on the guidelines before they are finalised.... Read More »
Press release - Attorney General Robert McLelland Speech at AML/CTF conference: 1st April 2009 ATTORNEY-GENERAL ROBERT McCLELLAND - SPEECH - ANTI-MONEY LAUNDERING AND COUNTER-TERRORISM FINANCING CONFERENCE First, may I acknowledge the traditional owners of the land we meet on – and pay my respects to their elders, both past and present. Thank you Jeof for your introduction. � Mr... Read More »
Press release - Circular from the Securities and Futures Commission Hong Kong: 30th of March 2009 Circular from the Securities and Futures Commission Hong Kong to All Licensed Corporations, Responsible Officers, Licensed Representatives and Registered Institutions Regarding the Waiver of Annual Licensing Fees. For details, please visit: http://www.sfc.hk/sfcRegulatoryHandbook/EN/displayFileServlet?docno=H543 To change your subscribed items or to cancel subscription, you may point your browser to the... Read More »
Press release - SGX CORPORATE ACTIONS REQUIRING THE ENGAGEMENT OF A SPONSOR FOR CATALIST COMPANIES: 31st of March 2009 CORPORATE ACTIONS REQUIRING THE ENGAGEMENT OF A SPONSOR FOR CATALIST COMPANIES The Exchange is introducing Practice Note 7D to provide greater clarity and guidance on the types of corporate actions or transactions that would require the appointment of a sponsor and those that need not. While addressing common... Read More »
Press release - Ministry of Economic Development: 31st of March 2009 Format of Business Industry Code (BIC) has changed Today the new Australian and New Zealand Standard Industrial Classification (ANZSIC 2006) codes were introduced resulting in a change to the format of your Business Industry Code. ANZSIC 2006 is the system of classification that government departments such... Read More »
Press release - DEFINING EMISSIONS INTENSIVE INDUSTRIES UNDER THE CARBON POLLUTION REDUCTION SCHEME: Seven of the emissions-intensive trade-exposed activities that may be eligible for free permits under the Carbon Pollution Reduction Scheme have had their activity defined to allow for the next stage of data collection. The definitions detail the specific industrial activities that will be taken into account in providing free permits. "Under the Carbon Pollution Reduction Scheme, free permits are... Read More »
Fair Markets - Confident Consumers ACI Submission: The Assistant Treasurer and Minister for Competition Policy and Consumer Affairs, the Hon Chris Bowen MP, recently released an information and consultation paper entitled An Australian Consumer Law: Fair markets - Confident consumers and invited comment from interested stakeholders. On 2 October 2008 the Council of Australian Governments (COAG) agreed to a new consumer policy framework... Read More »
The Reserve Bank today released the March 2009 issue of the Reserve Bank of New Zealand Bulletin.: March 2009 Reserve Bank Bulletin released The Reserve Bank today released the March 2009 issue of the Reserve Bank of New Zealand Bulletin. The first article discusses the financial vulnerability in the household sector. Between 2001 and 2008, aggregate household debt more than doubled, alongside similarly rapid increases in house prices. Now with house prices falling... Read More »
NZ Commerce Commission releases final requirements for regulatory financial reporting by Telecom: 25 March 2009 Commerce Commission releases final requirements for regulatory financial reporting by Telecom The Commerce Commission today issued the regulatory requirements for the accounting separation of Telecom. To read the full press release click here. Read More »
Press release - Securities Commission New Zealand: 24th of March 2009 The Securities Commission has made changes to its class exemption for short form prospectuses to assist companies which seek to raise capital from existing security holders. To read the full press release click here . Read More »
Press release - Securities Commission New Zealand: 23 March 2009 The Securities Commission is now reviewing reporting by issuers on their corporate governance as part of its ongoing financial reporting surveillance programme. To read more click here for the news release . Read More »
Press Release - Senator The Hon Penny Wong Minister for Climate Change and Water: 19th of March 2009 To read the full press release click here . Read More »
Media Release - Commerce Commission, Court of Appeal upholds Commission's ability to pursue overseas residents: 18 March 2009 Media Release Commerce Commission Court of Appeal upholds Commission's ability to pursue overseas residents The ACI is pleased to provide members and gusests with access to the above mentioned media release. To access this media release please click here Read More »
Media Release - Progress on Trans-Tasman Legal Reforms (Joint McClelland & Power): 18 March 2009 Media Release: JOINT McCLELLAND & POWER PROGRESS ON TRANS-TASMAN LEGAL REFORMS The ACI is please to provide members and guests with access to the above mentioned media release. To access this media release please click here Read More »
SFC's Update Alert: 17 March 2009 The ACI is pleased to provided its members and guests with access to an SFC Update Alert. Re. Topic 4, Responsible Officers To access this alert please click here . Read More »
Media Release - APRA joins global banking body: Monday, 16 March 2009 No. 09.04 For Immediate Release The Australian Prudential Regulation Authority (APRA) has been invited to become a member of the Basel Committee on Banking Supervision, the global standard-setting body for banking regulation. The Chairman of APRA and the Governor of the Reserve Bank... Read More »
Papers from Public Session of the Financial Services Working group: ACI has been working on behalf of our members representing their interests in the Finacial Services Working Group that was established by the Minister for Superannuation and Corporate Law, Nick Sherry and the Minister for Finance and Deregulation, Lindsay Tanner. A Public Information session was recently held at the Swiss�tel in Sydney on Tuesday 10 March 2009,... Read More »
ACI Submission - Department of Climate Change Exposure draft of the Carbon Pollution Reduction Scheme: ACI has provided a submission in response to The Department of Climate Change's invitation for comment on the Exposure draft of the Carbon Pollution Reduction Scheme legislation. To view a copy of the submission please click here . Read More »
Singapore strengthens consumer protection on financial products: Mar 10 2009 Trond Vagen in Hong Kong Singaporean authorities have announced a number of measures to strengthen consumer protection after the alleged mis-selling to retail investors of financial investment products linked to Lehman Brothers. Under a revamped version of Singapore's Consumer Protection (Fair Trading) Act, due to come into effect on April 15,... Read More »
Media Release - Release of CPRS exposure draft legislation: 10 March 2009 Minister for Climate Change and Water, Senator Penny Wong, today released exposure draft legislation and explanatory materials for the Carbon Pollution Reduction Scheme. "Australians have made it clear that they understand the challenge of climate change and they want a government that will act," Senator Wong said. "As one of the hottest and... Read More »
Press release - Australian Food Businesses urged to update their Food Recall Plans: 13 March 2009 Food Standards Australia New Zealand (FSANZ) today launched an updated Food Industry Recall Protocol: a Guide to Writing a Food Recall Plan and Conducting a Food Recall. ‘The national system for managing food recalls in Australia relies heavily on food businesses having appropriate plans in place to respond quickly and effectively to food safety... Read More »
Press Release - Multi-currency cross-border payment arrangements between the Mainland and Hong Kong: 12 March 2009 The People's Bank of China (PBoC) and the Hong Kong Monetary Authority (HKMA) have signed a Memorandum of Understanding for the establishment of multi-currency cross-border payment arrangements between the Mainland and Hong Kong ("cross-border payment arrangements"). The cross-border payment arrangements will go live on 16 March 2009. The establishment of the cross-border payment... Read More »
Ministry of Law Singapore - Implementation of the New Moneylenders Act and Rules: 25th of February 2009 Moneylenders Act 2008 1. The new Moneylenders Act, passed by Parliament in November 2008, will be brought into effect on 1 March 2009. The new Act, which replaces the existing Act, allows for a more flexible and progressive approach to the regulation of moneylending in keeping with the modern credit economy. ... Read More »
Regulator Column SGX - Leakage of Price Sensitive Information: 11th of March 2009 SGX have just uploaded an article, "Leakage of Price Sensitive Information" , onto the SGX Regulator's Column. For your attention please. The weblink is attached below for your easy reference : http://info.sgx.com/SGXWeb_RMR.nsf/25bc34b31e4d8dcc482573e20035557a/48256cb7003f3552482575760042b40a?OpenDocument Read More »
Press release - INAUGURAL MEETING OF THE REFERENCE GROUP ON CHEMICAL SECURITY: 11th March 2009 Attorney-General, Robert McClelland, today addressed the inaugural meeting of the National Industry Reference Group on Chemical Security. The Reference Group was established to provide expert advice in the implementation of a Chemical Security Management Framework, which was agreed by the Council of Australian Governments (COAG) in October last year. To read the full press... Read More »
2009 Legal Technology Showcase with Blake Dawson: Blake Dawson Technology invites you to attend the 2009 Legal Technology Showcase being held on the 31st of March 2009 in Melbourne. This event provides legal, compliance and risk management professionals with an opportunity to view the latest in legal technology from a range of vendors all in one location. The event is complimentary for ACI guests and... Read More »
Press release - ACI & GARP Announce Strategic Alliance: Sydney, March 10th 2009 The Australasian Compliance Institute (ACI) has entered into a strategic alliance with The Global Association of Risk Professionals (GARP). Under the terms of the alliance, ACI members will now receive exclusive discounts when undertaking GARP's International Certificate in Banking Risk and Regulation (ICBRR) course. With the recent focus on banks needing to enhance... Read More »
Press release - SGX ISSUES PUBLIC CONSULTATION ON REVISED SETTLEMENT PROCESSES TO MANAGE NON-DELIVERY OF SECURITIES: 10 March 2009 - Singapore Exchange Limited ("SGX") is proposing to revise the Central Depository's ("CDP") settlement processes to further reduce failure to deliver shares due for settlement in the securities market. These changes form part of the overall review of measures to mitigate settlement risk, which includes the earlier consultation on changes to the penalty framework that was... Read More »
Press release - ASIC to accept online applications for scheme registration: Monday 9 March 2009 ASIC is inviting businesses to lodge applications for the registration of managed investment schemes online. The online forms are part of ASIC’s ongoing commitment to provide accessible lodgement services to assist business. To access the full details and forms click here. Read More »
Press Release - SGX IMPLEMENTS NEW SECURITIES LISTING RULES AND REVISES OTHER RULES TO HEIGHTEN MARKET EFFICIENCY: 3 March 2009 - Singapore Exchange Limited ("SGX") today announced new listing rules and changes to securities listing rules that will take effect on 24 March 2009. This follows a public consultation in July 2008 on revisions arising from one of the Exchange's more extensive rule reviews. In finalising the rules, SGX had incorporated feedback and suggestions from market... Read More »
Government Enhances Prudential Regulator's Supervisory and Enforcement Power - Media Release: Joint Media Release (013): The Hon Chris Bowen MP, Assistant Treasurer, Minister for Competition Policy and Consumer Affairs and Senator the Hon Nick Sherry Minister for Superannuation and Corporate Law Government Enhances Prudential Regulator's Supervisory and Enforcement Power The Assistant Treasurer Chris Bowen and the Minister for Superannuation and Corporate Law, Senator Nick Sherry, today... Read More »
Press Release - ASIC EXTENDS BAN ON COVERED SHORT SELLING OF FINANCIAL SECURITIES: The Australian Securities and Investments Commission (ASIC) today said it would keep the ban on covered short selling of financial securities in place until 31 May 2009 but will keep this position under review. ASIC advised the market on 21 January 2009 that the current ban on short selling of financial securities (as defined in AD08-65 ASIC lifts ban... Read More »
Financial Services Working Group Public Information Session: As members would be aware, ACI has been participating on your behalf on the Financial Services Working Group Advisory Panel. We have been recently advised that the Working Group is holding their first Public Information Session for 2009 (the fourth overall since the project began) next Tuesday 10 March from 4.00 to 6.00 pm in Sydney, and we... Read More »
Media Release - ACI and ABV provide international volunteering opportunities for compliance professionals: International development agency, Australian Business Volunteers (ABV) entered into agreement with peak industry body, Australasian Compliance Institute (ACI) in a signing ceremony held today in Sydney’s CBD. The agreement involves both parties committing to work together to provide better support for their respective members while enhancing the overall effectiveness and efficiency of their organisations. Much of corporate Australia... Read More »
APVMA Cost Recovery Submission: The APVMA’s activities are funded through cost recovery, except for a minor budgetary appropriation. Most of the APVMA’s operational income is collected from registrants of pesticides and veterinary medicines. The APVMA is conducting a review of its cost recovery arrangements in accordance with the Australian Government Cost Recovery Guidelines (2005). The APVMA invited comment on the Draft Cost... Read More »
Press Release - SGX Introduces Further Measures to Facilitate Fund Raising: ACI is pleased to provide the latest press release from the Singapore Exchange - SGX Introduces Further Measures to Facilitate Fund Raising. To read the press release, click here. Read More »
ACI has moved premises!!: ACI would like to advise our members and guests that we have now moved to larger premises and are now located at Level 1 , 50 Clarence St, Sydney. We request that you please update these details in your database. We look forward to seeing you at our new offices sometime in the future! ... Read More »
Press Release - Singapore Exchange -ST ENFORCEMENT ACTION ON BREACHES OF ITS DIRECTIVES: 10 February 2009 On 6 February 2009, the SGX Appeals Committee fined UOB Kay Hian Pte Ltd ("UOBKH") a total of $115,000 for breaching SGX's directives for the administration of the Trading Representative Examination on SGX Extended Settlement Contracts ("ES Contracts"). In addition, UOBKH is required to re-administer the examination for the TRs who sat for the... Read More »
ACI Compliance Awards Open for 2009: The ACI Annual Awards are unique in Australia and were created to recognise outstanding contributions by individuals and corporations to the development, understanding, or implementation of compliance systems in Australia and the dissemination of the values associated with those people and businesses who embrace the challenge of integrating compliance, risk, ethics and governance in their organisation. There... Read More »
Press release - LEGAL PROFESSION REFORM TO STRENGTHEN AUSTRALIAN ECONOMY: 3rd of February 2009 The Prime Minister has today announced that legal profession reform will form part of the Government's ongoing micro-economic reform agenda to strengthen the Australian economy in the face of the global financial crisis. To read the full press release click here. Read More »
ACI Releases latest edition of Compliance E-News: We are pleased to release the February Edition of Compliance E-News. To download your copy click here . Articles this month include: Contents Welcome 1 From the President 2 From... Read More »
Press release Securities Commission of NZ - Commission chairman on international advisory group: 28 January 2009 Securities Commission chairman Jane Diplock has been appointed to a high-level global advisory group looking at urgent financial reporting issues arising from the financial crisis. The Financial Crisis Advisory Group was set up in December by the International Accounting Standards Board and the United States Financial Accounting Standards Board. Its purpose is to advise... Read More »
Invitation to SME's - Opportunity to be involved in a national project to develop responsible business practice: ACI wishes to advise our SME members and guests about the following National Research Program with St James Ethics Centre aimed at SME's. St James Ethics Centre is inviting corporations and their suppliers to participate in the developmentof resources designed to support you in the development and communication of responsible business practice. Who can participate in... Read More »
Press Relase - SGX PROPOSES REVISIONS TO DERIVATIVES CLEARING FUND STRUCTURE: 23 January 2009 - Singapore Exchange Limited ("SGX") is proposing to revise the Clearing Fund structure of SGX-Derivatives Clearing (SGX-DC) to plan for growing market exposure and reinforce the integrity of the Clearing System. With the significant increase in derivatives trading volumes and market volatility, the Exchange is of the view that the SGX-DC Clearing Fund structure should be... Read More »
ACI Releases 2007/2008 Annual Report: ACI Releases 2007/2008 Annual Report The Australasian Compliance Institute (ACI) today released its 2007/08 Annual Report. The report provides a comprehensive overview of the organisation and the highlights of the Institute over the 2007/08 period. 2007/08 was the 11 th consecutive year of membership growth with a 9% increase in membership on the previous year,... Read More »
ACI Submission - New Zealand Select Committee Emissions Trading Scheme Review: The New Zealand Parliament have established a Select Committee for the Review of the proposals for an Emissions Trading Scheme in New Zealand and have invited submissions for comment, due to the Committee by 13 February 2009. Members can find the terms of reference for the Committee here and details of the request for submissions here... Read More »
Media Release - ASIC EXTENDS BAN ON COVERED SHORT SELLING OF FINANCIAL SECURITIES: 21st January 2009 The Australian Securities and Investments Commission (ASIC) today said it would keep the ban on covered short selling of financial securities in place until Friday, 6 March 2009. ASIC advised the market on 13 November 2008 that the current ban on covered short selling of financial securities (as defined in ASIC's release of 13 November... Read More »
Press Release Singapore Exchange Limited - Member Firms Implement Robust Business Continuity Arrangements by 2010: 21 January 2009 - Singapore Exchange Limited ("SGX") today introduces new rules requiring SGX member firms to develop robust "Business Continuity Management (BCM)" arrangements. This follows a public consultation in May 2008, on proposed BCM requirements. To download the press release, click here. Read More »
Anti-Monopoly & Competition Law Asia Forum - 24-26 February 2009, Hong Kong: ACI is pleased to support Asia’s first comprehensive two-day conference on Anti-Monopoly & Competition Law, being held from 24-26 February 2009 . Featuring ACI's President Annette Donselaar as a guest speaker of the event, the conference aims to provide all of the background, legislation, practical advice and policy ideas that you need to be able to... Read More »
Press Release - SGX updates its quarterly "Listing Rule Waivers": SGX has just updated its quarterly " Listing Rule Waivers" for the period of October -December 2008. SGX first introduced this initiative, on 8 October 2008, to enhance transparency in the market by publishing the rule waivers and the basis for granting the waivers to listed companies. You may wish to access... Read More »
Press Release 12th Jan 2009 - SGX INTRODUCES MEASURES TO FACILITATE EQUITY FUND RAISING THROUGH RIGHTS ISSUE: Singapore Exchange Limited ("SGX"), in consultation with the Monetary Authority of Singapore (MAS), today introduces new measures to provide listed issuers greater flexibility in raising funds through the rights issue framework. Today's measures are a follow-up to the first equity fund raising announcement issued on 19 December 2008. Click here to read the full press release... Read More »
ASIC Media Release - CONTINUATION OF EXEMPTIONS IN RELATION TO NAKED SHORT SELLING: 7th of January 2009 ASIC has released a new update in regards to CONTINUATION OF EXEMPTIONS IN RELATION TO NAKED SHORT SELLING. To read the full press release click here. Industry queries should be directed to: Olivia Wu Senior Lawyer Investment Banks ... Read More »
Latest Press Releases from Singapore Exchange: ACI is pleased to provide the latest press releases issued by the Singapore Exchange. Click on the below links to access each one. SGX'S RESPONSE TO BT ARTICLE - 5th of January 2009 - SGX Maintains a Robust Framework as a Self-Regulatory Organisation SGX'S RESPONSE TO BT ARTICLE - 5th of January 2009... Read More »
News Release - SGX ADOPTS MEASURES TO FACILITATE SECONDARY FUND RAISING BY LISTED ISSUERS: 19 December 2008 - Singapore Exchange Limited ("SGX"), in consultation with the Monetary Authority of Singapore ("MAS"), is taking steps to facilitate secondary fund raising by listed issuers in a timely manner. These measures will assist listed issuers seeking equity funding from their shareholders under the current global market environment of reduced credit availability. Shortening of rights issue... Read More »
ASIC Press Release - THREE NEW COMMISSIONERS AND CHAIRMAN OF THE EXTERNAL ADVISORY PANEL NAMED FOR ASIC: ASIC - 15th of December 2008 ASIC Chairman, Mr Tony D'Aloisio, today welcomed Minister Sherry's announcement for the appointment of three additional full time Commissioners to ASIC. 'We are pleased that the Government has accepted our recommendation, which came out of our strategic review, to increase the size of Commission,' Mr D'Aloisio said. 'We are delighted to have... Read More »
Press Release - House Economic Committee releases report on banking competition: House of Representatives Liaison & Projects Office, Thursday 27 November 2008 House Economics Committee releases report on competition in the banking and non-banking sectors The House of Representatives Economics Committee called on the Commonwealth Government to continue monitoring the residential mortgage-backed securities market and review the adequacy of current investment levels in light of future market developments. ... Read More »
Press Release Securities Commission of New Zealand - Commission alerts issuers to financial reporting matters: Below is the latest Press release from the Secutities Commission of New Zealand. Commission alerts issuers to financial reporting matters The Securities Commission has identified matters issuers need to focus on as a result of its recent review of financial statements. The areas requiring particular attention are: * the fair value... Read More »
JOINT MCCLELLAND/SHERRY MEDIA RELEASE - GOVERNMENT WELCOMES SAME-SEX SUPERANNUATION REFORMS: GOVERNMENT WELCOMES SAME-SEX SUPERANNUATION REFORMS Attorney-General Robert McClelland and Minister for Superannuation and Corporate Law Senator Nick Sherry today welcomed new superannuation reforms marking a significant step forward in the recognition of same‑sex relationships. The Same Sex Relationships (Equal Treatment in Commonwealth Laws Superannuation) Act 2008 received Royal Assent on 4 December 2008.... Read More »
ACI's Compliance in a Volatile Market White Paper: In May 2008, the ACI established a "Compliance in a Bear Market" Working Party to investigate and prepare a White Paper for use by ACI members and organisations both in the private and public sector concerning the impact of volatile market conditions upon compliance cultures and compliance functions within those organisations. The collapse of a number... Read More »
Part 2 of Exclusive Interview with Neil Jensen CEO of Austrac: AUSTRAC set to boost enforcement presence, says chief By Nathan Lynch The Australian money laundering regulator is preparing to shake off its image as a reluctant enforcer with the revelation that its enforcement unit is reviewing "numerous" cases for potential disciplinary or legal action. Neil Jensen, chief executive of AUSTRAC, said... Read More »
Part 1 of exclusive Interview with Neil Jensen CEO of Austrac: The 15-month question: AUSTRAC spells out position on 'policy principles' By Nathan Lynch Australian "tranche one" reporting entities have less than one month before the final wave of AUSTRAC's anti-money laundering requirements take effect. According to anecdotal reports from industry figures, lawyers and consultants, however, many firms have a different date stamped in... Read More »
ACI Supports 2nd Annual Anti Corruption Asia Conference - 19th -22nd January 2009: ACI is delighted to support the upcoming Annual Anti Corruption Asia Conference - 19th -22nd January 2009 to be held in Hong Kong. Beacon's 2nd Annual Anti-Corruption Asia Congress brings together influential in-house counsel and FCPA experts to provide practical guidance on building and implementing robust policies to ensure compliance with FCPA and regional... Read More »
ACI Latest Submission - ASIC Consulation Paper 90 - EFT Code of Conduct: ACI is pleased to advise that they have recently completed a submission on the ASIC Consultation Paper 90 - Review of the Electronic Funds Transfer Code of Conduct 2007/08 . To access the submission, click here. Read More »
ACI Submission - ASIC Consultation Paper 90: A Working Group of ACI members has provided a submission to ASIC in response to their invitation to comment on Consultation Paper 90: Review of the Electronic Funds Transfer Code of Conduct 2007/08. To obtain a copy of the submission please click here . Read More »
Securities Commission New Zealand update: The Commission has published an article providing guidance to investors considering moratorium proposals. To read the whole article, click here Read More »
ACI releases 5th edition of the Compliance and Regulatory Journal: ACI is delighted to announce the release of the Institute’s fifth edition of the Compliance & Regulatory Journal . The Compliance and Regulatory Journal is a unique publication featuring a selection of peer reviewed articles from a range of practitioners, academics and other leading experts in the area of compliance. The fifth edition includes... Read More »
Minister Nick Sherry to Address National Press Club - Wednesday 19 November: The title of the Minister's address is: Has Australia's corporate law and superannuation system responded well to the global financial crisis? The Global Financial Crisis has had a range of impacts on Australian corporate law, financial markets and the superannuation system. Minister Sherry will review the Rudd Government's first year of work in these critical areas and set out... Read More »
AD08-69 PDS notifications to be lodged electronically from 1 January 2009: From 1 January 2009, notifications to ASIC about a Product Disclosure Statement (PDS) will need to be made online. To read the full press release, click here Read More »
ACI Compliance e-news 7.4: Welcome to the latest edition of Compliance E-News. To access a copy of this publication please click here . Read More »
Legal Risk Resources technology showcase - 19th November 2008, Perth: Blake Dawson Technology and ACI are delighted to invite you to attend the Legal Risk Resources and Technology Showcase being held in Perth on the Wednesday the 19th of December from 4pm - 7pm. This complimentary event provides legal, risk and compliance staff with an ideal one stop shop opportunity to view... Read More »
ACI Submission - External Audit Consultation process NGER 2007: The Australasian Compliance Institute (ACI) has recently finalised a submission to the Department of Climate Change regarding the External Audit consultation process that will be used to support the recently adopted National Greenhouse and Energy Reporting (NGER) Act 2007. To read the full details of the submission, click here. Read More »
ACI Latest Submission - ASIC Consultation Paper 102 Dispute Resolution - Review of RG 139 and RG 165: ACI is pleased to advise that a volunteer working party have recently completed a submission regarding the ASIC Consultation Paper 102 Dispute Resolution - Review of RG 139 and RG 165. The Australasian Compliance Institute (ACI) would like to take the opportunity to thank ASIC for providing an opportunity for ACI to make a submission in respect... Read More »
ACI Submission - ASIC Consultation Paper 102: ACI has provided a submission in response to ASIC's invitation for comment for Consultation Paper 102 Dispute Resolution - Review of RG 139 and RG 165 To view a copy of the submission please click here . Read More »
ACI Submission - ASIC Consultation Paper 101: ACI has provided a submission in response to ASIC's invitation for comment for Consultation Paper 101 - Superannuation Forecasts To view a copy of the submission please click here . Read More »
ACI Latest submission - ASIC 101 Consultation Paper: The Australasian Compliance Institute (ACI) would like to take the opportunity to thank the Australian Securities & Investments Commission for providing an opportunity for ACI to make a submission in respect to Consultation Paper 101: Superannuation Forecasts. To read the full submission submitted by the ACI Working Party click here. Read More »
ASIC Press Release - SHORT SELLING RELIEF FOR CONVERTIBLE SECURITIES EXPANDED: On Friday, 24 October 2008 the Australian Securities and Investments Commission (ASIC) expanded its existing relief from the covered short selling ban for people who hold a convertible security (eg a convertible bond) to hedge their exposure to the underlying share. The change means that people can short sell to hedge exposure through a fixed conversion price or ratio... Read More »
PRESS RELEASE - ASIC EXTENDS BAN ON COVERED SHORT SELLING: The Australian Securities and Investments Commission (ASIC) today said it would extend the ban on covered short selling for non-financial securities for a further 28 days until 18 November 2008, when it expected the ban would be lifted. If you would like to read the whole press release click here Read More »
Press release - Securities Commission, NZ - Commission exemptions relating to the deposit guarantee scheme: The Securities Commission today decided to grant exemptions to facilitate disclosure by issuers about the New Zealand deposit guarantee scheme. "These exemptions encourage simple and consistent disclosure so that investors can easily see which institutions are included in the scheme," Commission General Counsel Liam Mason says. The exemptions require statements about the Crown guarantee under the scheme... Read More »
Notice of Annual General Meeting & Election of Directors: The Annual General Meeting of the Australasian Compliance Institute Incorporated has been convened by resolution of the Board pursuant to section 8 of the Constitution and Rules. Date: 22 October 2008 Time: ... Read More »
Press Release - The Securities Commission welcomes the passing of the Financial Advisers Bill by Parliament: "This will make financial advisers more accountable and boost investor confidence in the professionalism and integrity of financial advisers," Commission chairman Jane Diplock says. "It is an important piece of legislation in that it addresses a gap in regulation of financial services and aligns New Zealand with international best practice." With the supervision of financial advisers the Commission's... Read More »
SGX Statement - SGX ENHANCES TRANSPARENCY AND DETERS FAILED SHARE DELIVERY: 22 September 2008 - Despite current market turbulence and global financial uncertainties, trading of securities listed on Singapore Exchange (SGX) has been orderly and settlement has been timely. Nevertheless, SGX would like to enhance existing transparency in the market and to deter failed deliveries. Information about naked short positions which result in failure of delivery to CDP would be... Read More »
ASIC press release - UPDATE ON ASIC�s RESPONSE TO SHORT SELLING: The Australian Securities and Investments Commission (ASIC) has this morning issued further clarification to market participants regarding the prohibition on short-selling to ensure that fair and ordinary markets continue. Following is a summary of announcements on Friday and Sunday and related clarifications. Click here for the full press release. Read More »
ACI and CSA announce strategic relationship: The Australasian Compliance Institute (ACI) is pleased to announce it has entered into a strategic relationship with the Chartered Secretaries Australia (CSA). ACI and CSA have signed a Memorandum of Understanding (MOU) to implement collaberative opportunities to mutually develop and promote relevant products and services. It will deliver new benefits to our respective members. Under the terms... Read More »
ASIC Media Release - NAKED SHORT SELLING NOT PERMITTED AND COVERED SHORT SELLING TO BE DISCLOSED: The Australian Securities and Investments Commission (ASIC) today announced a package of interim measures relating to short selling. The past week has seen unprecedented turmoil in the financial markets. The US Securities and Exchange Commission and UK Financial Services Authority have responded in recent days by announcing new rules to regulate short selling. Click here to read the... Read More »
Upcoming Annual Business and Professions Study: ACI would like to advise our guests about the upcoming The Annual Business and Professions Study (ABPS). The ABPS is the largest independent study of professional services in Australia. The ABPS is supported by the Australasian Compliance Institute and 40 other professional associations and industry bodies and is conducted by Beaton Consulting. This online survey investigates the performance and... Read More »
ACI Compliance e-news 7.3 - Salary Survey Results: Welcome to the latest edition of e-news incorporating the results of the 2008 Salary Survey of members. Thank you to all those members and guests who participated in the survey this year. Your input is invaluable to your fellow members and the growth and support of the profession. To download the latest edition click here .... Read More »
Securities Commission NZ Press Release - Commission to review issuers' responses to reporting challenges: The Securities Commission will review how well issuers respond to significant reporting challenges in the current market as part of its surveillance programme. The Commission will begin this work by reviewing 30 June 2008 balance date financial reports as part of Cycle 8 of its Financial Reporting Surveillance Programme. "All participants involved with the financial reporting... Read More »
Invitation to Nominate for ACI Board 2008: Background In twelve years ACI has grown significantly, both in membership and the activities and initiatives it undertakes, building an enviable profile throughout Australia and the region. By serving on the Board, those members with the energy, ideas and commercial acumen can make a critical contribution to the future of our Institute and members... Read More »
SGX Press release - SGX INTRODUCES TRANSITION MEASURES FOR CATALIST NON-SPONSORED COMPANIES: 1 September 2008 - Singapore Exchange Limited (SGX) today announced measures to manage the transition process of Catalist Non-Sponsored (Catalist-NS) companies to the Catalist's sponsored regime. It was announced on 4 February 2008 that Catalist-NS companies would be given a period of at least two years to undertake this process. To read the full press release, click... Read More »
Advice regarding ASIC's amendments to improve disclosure by unlisted mortgage and property schemes: As members would be aware, a working party of ACI members recently submitted comment on the Consultation Papers 99 and 100 from ASIC in regard to improved disclosure by unlisted mortgage and property schemes . As per their previously published schedule. ASIC have advised this morning in a media release that they have now released this... Read More »
Updated Regulatory Guide 69: The Australian Securities and Investments Commission (ASIC) released the updated Regulatory Guide 69: Debentures–improving disclosure for retail investors on Friday the 29th of August. For further information, click here to visit the ASIC website page. Read More »
Press release SGX - Prolonged suspension not in interest of shareholders and market: SGX sets out its position on why further extensions may not be granted to long-suspended companies. A company should keep its suspension to the shortest period possible in the interests of shareholders. The longer a suspension, the more challenging it can be for the company to acquire suitable assets as viable alternatives would have been exhausted.... Read More »
Press release - RUDD GOVERNMENT REAFFIRMS COMMITMENT TO LEGAL HARMONISATION: Attorney-General Robert McClelland today tabled the Rudd Government's response to the House of Representatives Legal and Constitutional Affairs Committee report into the harmonisation of legal systems within Australia and between Australia and New Zealand. To read the full press release click here. Read More »
ACI Submission - Finance & Expenditure Committee New Zealand - Proposed Changes to the Financial Advisers Bill: ACI has provided a submission in response to the Finance & Expenditure Committee New Zealand's invitation for comment for Proposed Changes to the Financial Advisers Bill. To view a copy of the submission please click here . Read More »
Attorney General Speech - Launch of the Australian Law Reform Commission report: To read the speech from the Attorney General regarding the Launch of the Australian Law Reform Commission report, click here. Read More »
ASIC Press release - ASIC ISSUES GUIDANCE TO PEOPLE OVERSEAS WANTING TO OFFER FINANCIAL SERVICES IN AUSTRALIA: The Australian Securities and Investments Commission (ASIC) today issued a new regulatory guide Doing financial services business in Australia (RG 121). The guide is part of ASIC's international capital flows work (see our recent report Enhancing Capital flows in and out of Australia (Report 134)). One of the aims of ASIC's international capital flows project is to make it... Read More »
Securities Commission, New Zealand Press Release - Cycle 7 of Financial Reporting Surveillance Programme released: The Securities Commission has released Cycle 7 of its Financial Reporting Surveillance Programme. With the completion of this cycle all New Zealand Exchange listed issuers, other than some dual or overseas listed entities, have been reviewed at least once. Cycle 7 reviewed the financial statements of 44 issuers with balance dates from 31 December 2006 to 30... Read More »
ASIC Information Release: Ongoing Licensing Relief for Trustees of Wholesale Equity Schemes: ASIC have provided ongoing relief that exempts trustees of wholesale equity schemes from having to hold an Australian Financial services licence when providing custodial or depository services and dealing services (wholesale equity financial services). For the full Information Release with links to download the newly released Class Order and Regulatory Guide 192, click here . Read More »
ASIC Outlines Market Turmoil Response To Financial Services Industry: The Australian Securities and Investments Commission (ASIC) has outlined five key market issues it will be focussing on over the coming months, specifically responding to concerns emerging from the current market conditions. ASIC Commissioner Belinda Gibson said the key areas are: Managed Investment Schemes (MIS) and the disclosure of risk; Credit Ratings Agencies (CRA); ... Read More »
Introduction of Competition Legislation into Hong Kong: The Australasian Compliance Institute (ACI) would like to take the opportunity to thank the Commerce and Economic Development Bureau of Hong Kong for providing an opportunity for ACI to make a submission in respect to the introduction of Hong Kong's Competition Legislation. This submission was authored by a Working Party of ACI members and ACI's CEO in response... Read More »
ASIC Consultation Paper 99 - ACI Submission: ASIC recently closed submissions on Consultation Paper 99 - Mortgage schemes - improving disclosure for retail investors . A Working Party of ACI members and ACI's CEO worked on a submission on behalf of ACI members who will be affected by the proposals. We thank these working party members for the generous donation of their time and contribution.... Read More »
ASIC Consultation Paper 100 - ACI Submission: ASIC recently closed submissions on Consultation Paper 100 - Unlisted property schemes – improving disclosure for retail investors . A Working Party of ACI members and ACI's CEO worked on a submission on behalf of ACI members who will be affected by the proposals. We thank these working party members for the generous donation of their time and... Read More »
ACI Submission - Introduction of Competition Legislation into Hong Kong: ACI has provided a submission in response to the Commerce and Economic Development Bureau, Hong Kong's invitation to comment on proposals for the Introduction of Competition Legislation into Hong Kong. To view a copy of the submission please click here . Read More »
ACI Submission - ASIC Consultation Paper 100: ACI has provided a submission in response to ASIC's invitation for comment for Consultation Paper 100 - Unlisted property schemes - improving disclosure for retail investors To view a copy of the submission please click here . Read More »
ACI Submission - ASIC Consultation Paper 99: ACI has provided a submission in response to ASIC's invitation for comment for Consultation Paper 99: Mortgage schemes - improving disclosure for retail investors To view a copy of the submission please click here . Read More »
ASIC Media Release - ASIC IDENTIFIES KEY AREAS FOR ENHANCED INTERNATIONAL CAPITAL FLOWS: The Australian Securities and Investments Commission (ASIC) today released a report on its work to enhance capital flows into and out of Australia. In May last year, ASIC Chairman Tony D'Aloisio announced ASIC would step up work to remove barriers to capital flows while ensuring the continued integrity of our markets. The Enhancing Capital Flows into and out of... Read More »
ACI releases 4th edition of the Compliance & Regulatory Journal: ACI releases 4 th edition of the Compliance & Regulatory Journal ACI is delighted to announce the release of the Institute’s fourth edition of the Compliance & Regulatory Journal. The Journal was developed in response to research undertaken with compliance professionals in 2005 which established the need for a high quality publication that would provoke... Read More »
ACI supports the Anti-Corruption South Asia Summit: Australasian Compliance Institute (ACI) is pleased to support the Anti-Corruption South Asia Summit which will be held from 9 – 11 September at the Intercontinental Hotel. The theme of the event is: Implementing Robust Anti-Bribery Policies to Ensure Compliance with the Foreign Corrupt Practices Act (FCPA)and Anti-Corruption Laws across Asia South ... Read More »
ACI Supports Australia New Zealand Climate Change & Business Conference: The 4 th Australia- New Zealand Climate Change & Business Conference will be held in Auckland, New Zealand from the 18-20 August 2008 with both the New Zealand and Australian Federal Governments as Foundation Sponsors. The event will focus on the risks and opportunities facing business as a result of climate change with a particular emphasis... Read More »
ACI Releases New Quick Guide to Compliance: The Australasian Compliance Institute is pleased to announce the publication of the Quick Guide to Compliance, Ethics, Governance, Risk and Corporate Social Responsibility . Originally published as the 2 minute Guide in 2005, this informative, easy to read handbook aims to provide organisations with a simple tool to help understand more clearly the contribution that compliance, risk, ethics,... Read More »
ACI launches 2008 Salary Survey for Compliance Professionals: The Australasian Compliance Institute is pleased to launch its 2008 Annual Salary Survey for members and guests. It is ACI’s sixth annual survey, designed to gather key information regarding the levels of remuneration, education and qualification of Compliance Professionals globally. Previous salary surveys conducted over the years have allowed ACI to refine the survey questions enabling ACI... Read More »
Media release - Appointments to the Securities Commission and Takeovers Panel: Commerce Minister Lianne Dalziel today announced appointments to the boards of two independent Crown entities, the Securities Commission and the Takeovers Panel. Keitha Dunstan and Mai Chen have been reappointed as members of the Securities Commission. to read the full press release, click here. Read More »
ACI E-News Edition 7.2 July 2008: Welcome to the July 2008 issue of e-news. This issue sees us explore a number of key themes that have been occurring in the press and amongst ACI’s events. Our first article this month comes from one of our CCP students as part of his contribution to the profession. Concentrating on Board Assessments this article... Read More »
ASIC Media Release - AUSTRALIA AND HONG KONG SIGN DEAL TO ALLOW CROSS-BORDER MARKETING OF RETAIL FUNDS: The Australian Securities and Investments Commission (ASIC) signed a 'declaration of mutual recognition' today with the Hong Kong Securities and Futures Commission (SFC) to facilitate the sale of retail funds to investors in each other's market. to rewad the full press release, click here. To access a copy of the Mutual Declaration via ASIC's website ... Read More »
ACI comments in SBS World News Transcript - Business in the Dark on Carbon Trading: Transcript – SBS World News 2/07/08 6:30pm BUSINESS IN THE DARK ON CARBON TRADING SCHEME A peak industry body has warned that a future carbon emissions trading scheme will cost business and consumers even more than expected if companies fail to accurately report their emissions now. The comments follow a poll showing... Read More »
ACI Submission - Financial Services Credit Reform Green Paper: The Australasian Compliance Institute (ACI) would like to take the opportunity to thank the Department of Treasury and the Minister for Superannuation and Corporate Law for providing an opportunity for ACI to make a submission in respect to the Financial Services and Credit Reform Green Paper. To read the submission, click here. Read More »
Green Paper on Financial Services and Credit Reform: Treasury released a Green Paper on the 12th of June in regard to Financial Services and Credit Reform. The purpose of this Green Paper is to consult stakeholders about the following range of financial services and credit reform initiatives: the development of a comprehensive approach to the regulation of mortgages and mortgage broking advice; ... Read More »
ASIC Media Release - Less Paper in Super: In recent months, ASIC has been looking for ways to lift retail investor engagement with their super savings and at the same time help super funds better communicate with their members. Please find further details in the attached media release here . Read More »
ACI Supports 5th Annual Risk Management Conference 2008 � Sydney: ACI is pleased to support the upcoming Risk Management Conference in Sydney on the 28 – 31st of July and ACI delegates receive an exclusive 10% discount when registering for this event! As you know, these are uncertain times for Australian corporations with global financial market turmoil, tighter regulation and climate change debate. Now more than ever, risk... Read More »
Press release issued by ASIC 16th of June 2008: The Treasury and the Australian Securities and Investments Commission (ASIC) today issued a joint consultation paper, Cross border recognition: Facilitating access to overseas markets and financial services. The consultation paper invites comment on proposals for cross border recognition of financial markets, financial services and disclosure about investments.The last three decades have seen Australia's financial markets and services industries experience... Read More »
Offering Securities in New Zealand and Australia Under Mutual Recognition - News Release: The New Zealand Securities Commission and ASIC have published joint guidance to New Zealand and Australian issuers offering shares. The guide explains what issuers have to do under the trans-Tasman mutual recognition scheme for offers of securities. This guide is now available on the Commission's website . Read More »
World first in comprehensive mutual recognition of securities offerings - joint press release: New Zealand Commerce Minister Lianne Dalziel and Senator the Hon Nick Sherry, Australian Minister for Superannuation and Corporate Law, today welcomed the entry into force of a landmark agreement between Australia and New Zealand that will smooth the way for businesses to raise capital and for the public to invest with greater ease in both countries. The full joint... Read More »
SGX amends CDP rules to admit banks as Clearing Members of itssecurities market: 10 June 2008 - Singapore Exchange Limited (SGX) today announced that it will admit banks as Clearing Members of its securities market with effect from 1 July 2008. New rules will allow banks in Singapore licensed by MAS under the Banking Act to become SGX Securities Clearing Members. To obtain a copy of the Amendments to CDP clearing... Read More »
ACI Letter to the Editor 27 May 2008: Response to AFR Article 26 May 2008 Many members will have read the article in the Australian Financial Review on the 26th of May 2008, entitled "Compliance sucks life out of directors". Consistent with ACI's objectives and responsibilities to its members, in response, Martin Tolar, ACI's CEO, has sent a letter to the editor, a... Read More »
ACI Submission - Proposed Changes to Financial Service Providers Bill, NZ: Proposed Changes to the Financial Service Providers (Registration and Dispute Resolution) Bill The Australasian Compliance Institute has recently completed a submission to the thank the Finance and Expenditure Committee in respect to the Financial Service Providers (Registration and Dispute Resolution) Bill for New Zealand. To read the submission, click here. Read More »
Productivity Commission Final Report - Review of Australia's Consumer Policy Framework: ACI is pleased to provide the below link to the Productivity Commission's Final Report on the Review of Australia's Consumer Policy Framework. Click here if you wish to read more or download a copy of the Report. Read More »
The Hon Chris Bowen MP - Australia's Policy Framework - release of the Productivity Commission Final Report: ACI is pleased to provide the below link for The Hon Chris Bowen MP's latest press release regarding the review of Australia's Policy Framework - release of the Productivity Commission Final Report. Click here to read the media release. Read More »
The Quarterly Newsletter of the New Zealand Securities Commission: The New Zealand Securities Commission have released their latest Bulletin online magazine. To access click here . Read More »
Refining the PEP Definition White Paper by World-Check: ACI is pleased to provide access to the release World-Check's 2 nd edition of the White Paper titled “Refining the PEP definition” which expands further on the traditional Financial Action Task Force (FATF) definition of the Politically Exposed Person beyond its primary regulatory context. The paper provides an authoritative PEP definition that serves as a reference framework for... Read More »
Third Annual Financial Services Reform - 18 July 2008: Monash and Macquarie Universities are presenting the Third Annual Financial Services Reform conference at the Macquarie downtown campus in Sydney on Friday 18 July 2008. This conference will bring together many experts in the compliance area from accounting, financial planning, insurance, legal, regulation and stockbrokers, including Australian Compliance Institute CEO Martin Tolar. The Conference will be opened by... Read More »
National Greenhouse and Energy Reporting Submissions and progress: As members would be aware, ACI recently provided a submission on the National Greenhouse and Energy Reporting System Discussion Paper(s) (as below). For the information of members, all stakeholder submissions received on the National Greenhouse and Energy Reporting System Technical Guidelines for the Estimation of Greenhouse Emissions and Energy at Facility-Level... Read More »
ACI Submission - Trade Practices Amendments - Component Pricing and other measures 2008: ACI has made a submission in regard to amendments to the Trade Practices Bill to include considerations for Component Pricing and other measures. To obtain a copy of ACI's submission click here . Read More »
Media release - RUDD GOVERNMENT MOVES TO REVEAL HIDDEN COSTS OF PURCHASES: Minister for Competition Policy & Consumer Affairs, Chris Bowen has unveiled draft legislation that will ensure consumers know the total price they will have to pay for goods and services that they buy. The amendments to the Trade Practices Act 1974 will address the use of component pricing in advertising to consumers. Component pricing is the... Read More »
ACI SUPPORTS CHRIS BOWEN'S DRAFT OF NEW BILL ON COMPONENT PRICING - 2nd April 2008: On initial inspection of the new Draft Bill on Component Pricing, the Australasian Compliance Institute supports the new legislation as a way to provide protection to consumers affected by hidden taxes, levies and fees whilst minimising compliance costs for business. In particular, ACI supports the exclusion of financial services from the draft legislation as this is already covered within... Read More »
1st April 2008 - Update on Martin Tolar's meeting with Hon Senator Nick Sherry: Further to the recent meeting with Martin Tolar and the Hon Senator Nick Sherry, the Minister for Superannuation and Corporate Law, we are delighted to provide the following feedback from the discussion. The three priority areas for Minister Sherry are: The transfer of financial services powers from the states to the Commonwealth The simplication of... Read More »
Compliance & Regulation: from Paddock to Checkout: Designed for individuals and organisations within the Primary, Manufacturing and Retail areas of the food supply chain, this unique event is split into two half day seminars with the morning session tailored to Primary Producers, Suppliers and Service Providers to the Primary Sector, and the afternoon session tailored for Food Manufacturers and Food Retailers. Participants will hear from... Read More »
Compliance & Regulation: from Paddock to Checkout: To register for this event please click the corresponding session below: Morning Session: Primary Producers and Service Providers to Primary Sector Afternoon Session: Food Manufacturers and Retailers Full Day Event Read More »
ACI Awards 2008 - Open for Nomination: The ACI Awards for 2008 are now open for nomination. We would encourage members to nominate for these Awards. Further information about the Awards is available on the Awards page of this site and the forms can be downloaded here . Read More »
ACI Submission - NZ Financial Advisers Bill 2007: The Australasian Compliance Institute made a submission on the 27th March 2008 to the New zealand Finance and Expenditure Committee in respect to the Financial Advisers Bill 2007. To read the submission, click here. Read More »
Latest Edition of Compliance e-news 7.1: Welcome to the latest edition of ACI's E-News. Please download your copy here . Read More »
Press Release - Review of Legislative Instruments Act: REVIEW OF LEGISLATIVE INSTRUMENTS ACT Attorney-General Robert McClelland today announced the establishment of a committee to review the Legislative Instruments Act 2003 , as stipulated by the Act. The Legislative Instruments Act 2003 established a comprehensive regime for the making, registration, publication, parliamentary scrutiny and sunsetting of Commonwealth legislative instruments. "The... Read More »
Guidance Notes on Responsible Investment Disclosure - Kiwi Saver Scheme Providers: The Securities Commission of New Zealand has published some guidance notes on Responsible Investment Disclosure by Kiwi Scheme Providers. To download the guidance notes, click here. Read More »
Letter to Editor - AFR - 11 March 2008 - By Martin Tolar: The following letter to the Editor appeared in the Australain Financial Review on the 18th March 2008 Dear Editor, I write in respect to your article entitled “Demands on Directors Grow Amid More Corporate Scrutiny” (AFR Pages 58-60). In particular I refer to the comments made by Mark Johnson who likened being a director to balancing... Read More »
Speech by Jane Diplock, Securities Commission, NZ - Seminar - Capital Markets and Regulation: Asia Pacific Today: To read the speech by Jane Diplock, AO of the Securities Commission, NZ - Seminar - Capital Markets and Regulation: Asia Pacific Today, 1st February 2008, click here. Read More »
Securities Commission New Zealand to call for disclosure statements of investment advisers and investment brokers: Read the latest news release from Securities Commission, New Zealand by clicking here. Read More »
Invitation to Volunteer Speakers - ACI 2008 Networking Series: The 2008 Networking Series is provided to assist ACI members and guests to strengthen the compliance and risk community whilst also supporting the development of their current knowledge and skills. ACI is inviting members to volunteer to present a topic of their choice at one of our networking events to be held in capital cities throughout... Read More »
Securities Commission, New Zealand - Presentation by Liam Mason: At the recent ACI Associate Intensive in Auckland, special guest speaker Mr Liam Mason, General Counsel for the Securities Commision, New Zealand gave an informative presentation on: The changes to the NZ law on insider trading, substantial security holder disclosure. The new law on market manipulation, disclosure by investment advisers and the increased powers for the... Read More »
Important Joint Media release from ASIC and the ASX - March 2008: Please find attached a joint ASX/ASIC media release regarding the release of two Companies Updates to assist companies meet their disclosure obligations. To access this media release click here . Read More »
Financial Services Working Group - The Hon Senator Nick Sherry: On Friday February 29 ACI was in attendance at the Financial Services Working Group. The first meeting of the working group was opened by the Minister for Superannuation & Corporate Law the Hon Senator Nick Sherry. The working group has been established to simplify the advice and product disclosure statements relied upon by consumers when making investment decisions.... Read More »
Address by The Hon Lindsay Tanner MP to the Sydney Institute 26 Feb 2008: The Minister for Finance and Deregulation, The Hon Lindsay Tanner recently addressed the Sydney Institute on the 26th February 2008 on Relieving the burden on business - Labor's deregulation agenda. To read the transcript of the speech click on the below link: http://www.financeminister.gov.au/speeches/2008/sp_20080226.html Read More »
ACI Submission - Carbon Offset Claims, 17th February 2008: The Australasian Compliance Institute has recently completed a submission to Australian Competition & Consumer Commission (ACCC) regarding its Issues Paper on The Trade Practices Act (TPA) and Carbon Offset Claims. To read the submission click here. Read More »
ACI Submisission - NZ Financial Services Reform, 25 Feb 08: The Australasian Compliance Institute (ACI) recently made a submission to the Finance and Expenditure Committee on the 25th February 2008 in respect to the Financial Service Providers (Registration and Dispute Resolution) Bill. To read the submission, click here. Read More »
AUSTRAC reminds industry about AML/CTF reporting deadline: All reporting entities under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) must submit a compliance report to the Australian Transaction Reports and Analysis Centre (AUSTRAC) by 31 March 2008. A reporting entity is an individual or business that provides a 'designated service' as defined in the AML/CTF Act. Some examples of... Read More »
ACI Submission - National Finance Broking Scheme Consultation: ACI has provided a submission to the Ministerial Council on Consumer Affairs in response to their National Finance Broking Scheme Consultation Package. To read the submission, click here. ACI would like to extend its appreciation to the member volunteers who donated their time to compile this submission on our behalf. Read More »
ACI Submission - National Greenhouse and Energy Reporting System: ACI has released a submission on the Department of Climate Change Regulations Policy Paper on the National Greenhouse and Energy Reporting System. To read the submission, click here. Read More »
ACI Letter to Editor AFR - 31st January 2008: The Australasian Compliance Institute (ACI) rejects claims made by the CEO of Choice Peter Kell that the only way to safeguard consumers is for the ACCC to increase litigation against business. The use of Enforceable Undertakings (EUs) by regulators such as the ACCC can be far more beneficial for consumers and organisations alike in the long run then... Read More »
ACI Submission - Productivity Commission Consultation - Australia's Consumer Policy Framework 2008: ACI has submitted its comments in regard to the Productivity Commission's consultation on its draft report on the review of Australia's Consumer Policy Framework. Members can access a copy of the submission here. Read More »
Invitation to ACI members to nominate to facilitate a Workshop: ACI Annual Conference 2008 Sustaining Compliance 23 and 24 October 2008 – Crown Promenade - Melbourne ACI’s Annual Conferences are designed to explore the emerging thematic issues in compliance each year, regardless of industry, and challenge the thinking of our delegates, expanding their skills and knowledge by providing thought leadership, opportunity for... Read More »
Policy Update - ACI meets with new Assistant Treasurer: Policy Update - ACI Meets with new Assistant Treasurer The Australasian Compliance Institute has started what promises to be a busy year on the policy front by meeting with the new Assistant Treasurer Chris Bowen MP. ACI President David Lawrence and CEO Martin Tolar met with the Assistant Treasurer and his advisers. ... Read More »
Media Release - ACI Supports Business�s Call to Government to Reduce Red Tape: ACI Supports Business’s Call to Government to Reduce Red Tape Further to the article in the Australian Financial Review on Monday the 14 th January “Pressure to Remove Red Tape” ACI supports the business community’s call for government to further look at reforms to reduce red tape and adopt a more consistent approach... Read More »
Media Release - ACI Enforceable Undertaking Paper: ACI Launches New Tool to Prevent Compliance Failures The Australasian Compliance Institute is pleased to launch a new paper which seeks to help businesses prevent compliance failures that have typically resulted in Enforceable Undertakings (EU’s). Developed by an ACI working group chaired by Vice President of the Institute, Annette Donselaar, the paper is the result of... Read More »
Compliance e-news December 2007 Edition Vol 6.4: Welcome to the latest edition of Compliance enews. To access click here . Please note that access to this publication is restricted to members until six weeks after the release date. Read More »
ACI Enforceable Undertakings Working Group Paper: Available for free to ACI members only here. Read More »
ACI Submission - Review of Australian Privacy Law: The Australasian Compliance Institute (ACI) has recently submitted our comments to the Australian Law Reform Commission upon the ALRC Discussion Paper 72: Review of Australian Privacy Law. To read ACI's full submission, click here. Read More »
Media Release - ACI survey uncovers top business compliance costs: ACI survey uncovers top business compliance costs An Australasian Compliance Institute (ACI) survey has identified the cost of giving effect to legislative change as one of the top 2 costs of compliance in Australia. ACI conducted a survey of its membership to determine the largest compliance costs facing their organisations. This follows the Productivity Commission’s... Read More »
Have something to say about compliance? Want to get published?: ACI has an open invitation to members to submit articles, letters to the editor, case studies and other material for both of its publications - Compliance enews and the Compliance and Regulatory Journal. Compliance enews is a six weekly electronic publication for members and guests of ACI which covers topical compliance issues,... Read More »
Invitation to Volunteer for Working Party December 2007: Proposed National Finance Broking Legislation Submission Working Party Background Regulation of the broking market which sources personal credit is fragmented, with New South Wales, Victoria and ACT having specific legislation for brokers accessing credit regulated by the Consumer Credit Code, while Western Australia applies broker-specific legislation to personal and commercial credit. The... Read More »
ACI Submission - Greenhouse and Energy Reporting Act 2007: The Australasian Compliance Institute (ACI) has recently submitted our comments to the Energy Reporting Taskforce and the Australian Greenhouse Office (AGO) regarding the regulations that will support the recently adopted National Greenhouse and Energy Reporting Act 2007. To read ACI's submission, click here. Read More »
Notice of Annual General Meeting & Election of Directors: ACI would like to advise members of the: Notice of Annual General Meeting & Election of Directors to be held on: 21 November 2007 at 6.00 pm At: Conrad Jupiters Cnr Gold Coast Highwayand Hooker Boulevarde Broadbeach Gold Coast Queensland The... Read More »
Bad Apples Seminar - Reference Checking Handbook: ACI and NIBA are pleased to invite our members and guests to this informative breakfast series discussing one of the latest initiatives from ASIC - the Reference Checking in the Financial Services Industry Handbook Click here to find out more about this event Read More »
ACI Submission - ASIC Consultation Paper 92: Streamlining Breach Reporting: ACI has recently completed a submission regarding the proposed streamlining of breach reporting for entities who need to report breaches to both ASIC and APRA . To read the submission click here. For further information contact the ACI office on 02 9290 1788. Read More »
ACI - ALRC Submission - Legal Privilege: ACI has recently completed a submission regarding the Australian Law Reform Commission's Discussion Paper on Legal Privilege. To read the submission click here. For further information contact the ACI office on 02 9290 1788. Read More »
ACI Compliance and Regulatory Journal - Call for articles: The ACI Compliance and Regulatory Journal is an ACI publication, providing an important platform for the promotion, communication and evolution of the compliance profession. This unique publication features a selection of pertinent articles and book reviews from a variety of academics, practitioners, industry leaders and experts. Our 3rd edition of the journal is due for release in December 2007,... Read More »
Media Release - ACI Supports Employment Reference Checking Initiative: MEDIA RELEASE 11 th October 2007 ACI Supports Employment Reference Checking Initiative The Australasian Compliance Institute announces its support of the launch of the new... Read More »
National Greenhouse and Energy Reporting Act 2007: For the information of members, the National Greenhouse and Energy Reporting Bill 2007 has now become the National Greenhouse and Energy Reporting Act 2007 (NGER Act) after completing its passage through Parliament and receiving Royal Assent on 28 September. The information collected under the NGER Act will inform crucial decisions during the establishment of the... Read More »
Media Release - ACI Supports Consumer Protection Law Reform: MEDIA RELEASE 5 th October 2007 ACI Supports Consumer Protection Law Reform The Australasian Compliance Institute supports the holding of discussions between the Commonwealth Government, ACCC and... Read More »
Compliance e-news September 2007: Welcome to the latest edition of e-news. To download your copy please click here . Please note - e-news is available to members only for the first six weeks and is then made available more widely. Read More »
Media Release - ACI Supports Australian Government's Best Practice Regulation Handbook: ACI Supports Best Practice Regulation Handbook The Australasian Compliance Institute (ACI) announces its support of the Best Practice Regulation Handbook which was launched today by the Office of Best Practice Regulation. While ACI acknowledges there is a need for regulation to ensure the running of a well functioning economy, it is essential that regulations do... Read More »
ACI Awards Open for Nomination: The ACI Annual Awards are unique in Australia and were created to recognise outstanding contributions by individuals and corporations to the development, understanding, or implementation of compliance systems in Australia and the dissemination of the values associated with those people and businesses who embrace the challenge of integrating compliance, risk, ethics and governance in their organisation. The... Read More »
Salary Survey 2007 - Results: ACI is pleased to release the results of the 2007 Salary Survey. To download a copy of this special edition of e-news please click here. Please note that this document is only available to ACI members as it is a benefit of membership to receive the results each year.... Read More »
Media Release - Directors to be Aware of Compliance Responsibility: Directors to be Aware of Compliance Responsibility 16 th July 2007 Further to the AFR’s recent article (WA mining boom stokes fears of insider Tuesday 10 th July 2007), regarding the increased incidence of Insider Trading as a result of the booming Mining sector, the Australasian Compliance Institute believes the issue... Read More »
Online Training - saltTM: ACI is delighted to offer the Blake Dawson Waldron suite of saltTM online compliance training courses. saltTM is an innovative, web-based training tool developed by Blake Dawson Waldron, one of Australia's leading law firms and an acknowledged international leader in the use of technology. saltTM is a cost-effective compliance training program designed to ensure that individuals understand... Read More »
Media Release - Demand for Australian Compliance Professionals Abroad Leaving Local Shortage: As many international organisations focus greater attention on ensuring good corporate governance, mitigating risk, operating ethically and addressing the variety of changing legislative obligations, the demand for qualified compliance professionals internationally has increased. Recent attention on anti-money laundering and terrorist financing, enquiries into corporate corruption and customer complaint handling are all issues currently effecting markets and Australasian business in... Read More »
June 2007 Edition of E-News: At long last - that latest edition of e-news is available to download This edition carries articles from members on: Outsourcing in Fund Administration Compliance Training - A success story A Cinderalla Story for Compliance HBR Article: Courage as a Skill An interview... Read More »
Enforceable Undertakings Working Party - Invitation for Volunteers: Background Enforceable Undertakings were introduced as an enforcement tool for ASIC in July 1998. From 1998 to 2006, ASIC agreed to 342 Enforceable Undertakings. At its peak ASIC agreed to 91 matters in one year (2000), however since that time the number of Enforceable Undertakings has reduced, with only 14 agreed to... Read More »
ACI National Conference 2007: ACI is pleased to announce the theme for this year's National Conference: Compliance: the value proposition – measurement and marketing How do you measure effectiveness, how do you demonstrate value This year we will be at the Conrad Jupiters - the Gold Coast We... Read More »
ALRC - Is Privacy Good Business?: The Australian Law Reform Commission (ALRC) is conducting a review of the Privacy Act 1988 (Cth) on behalf of the Australian Government. ACI have made a submission regarding the review and our CEO Martin Tolar has recently met with a panel of the ALRC. Further to this, the ALRC are conducting a public meeting on the 19 th ... Read More »
ACI Releases First Annual Report - 2005/2006: The Australasian Compliance Institute today released its inaugural Annual Report. The report provides a comprehensive overview of the organisation and the highlights of the Institute over the 2005/06 period. President of ACI David Lawrence said “The report reinforces ACI’s position as the peak industry body for Compliance Professionals and shows that ACI is continuing to... Read More »
Treasury Ignores Compliance: March 1, 2007 The Australasian Compliance Institute (ACI) has questioned the Commonwealth Treasury’s commitment to compliance and the compliance profession. In November last year the Parliamentary Secretary to the Treasurer, The Hon Chris Pearce MP launched a review of the Corporate and Financial Services Regulations. ACI subsequently formed a working party comprised of some of the... Read More »
ACI Salary Survey 2006 - 2007: ACI is pleased to launch its annual Salary Survey to members and guests. This is the fifth annual survey to track salary, qualification and other data for the benefit of members. The initial findings of the survey should be available to members by late March and copies will be sent to recruitment firms and employers. We would like... Read More »
ACI launches new publication: Compliance & Regulatory Journal: ACI is delighted to announce the release of the Institute’s newest publication - the Compliance & Regulatory Journal. The Journal was developed in response to research undertaken with compliance professionals in 2005 which established the need for a high quality publication that would provoke thought on current and emerging issues. The journal is the culmination of over... Read More »
Feedback from ACI's recent Associate Intensive Course: ACI is delighted to report on the recent success of last weekend's Associate Intensive Course held in Melbourne at Hilton on the Park on the 10 th & 11 th February 2006. 25 x participants with varying job roles from a diverse range of industries experienced 2 days of intensive learning on Compliance... Read More »
ROD Online Diagnostic Service: ACI is delighted to provide the following tool for compliance professionals – the ROD Online Diagnostic Service which is now available online via the ACI website. ROD Online is a dynamic diagnostic tool that provides a cost effective assessment and reporting system that provides organisations with an invaluable risk management tool. This online diagnostical system allows... Read More »
March 2007 Single Subject Courses - LAST CHANCE TO REGISTER: ACI is offering a limited number of single subject Associate level courses in Sydney in March. Please note that these courses will not be running again in 2007 and are subject to cancellation if a minimum number of registrations are not received by 15 February 2007. To see the list... Read More »
Compliance e-news December 2006 Edition vol 5.7: Welcome to the December Edition of compliance e-news This latest edition includes a number of interesting articles, some requesting comment and input from other members, and a visit to the ACI publication archives. To obtain a copy of this edition use the link here . We are also inviting members to submit articles and case... Read More »
ACI Supports Treasury's Corporate & Financial Services Reform Proposal: The Australasian Compliance Institute announces its support of the objectives of Treasury’s recent landmark corporate and financial services reform proposals released in November. A strong advocate of the development and ongoing pursuit of more balanced and pragmatic regulation, ACI welcomes the recent reform proposals in the Corporate and Financial Services Review Consultation paper. The reforms proposal aims to... Read More »
Protecting the Public V Conference - 28th & 29th March 2007: Topic : Measuring Regulatory Effectiveness Special Guest speaker - Attorney General The Hon Phillip Ruddock MP The protecting the public series is a crucial event for both Regulators and Industry. It is designed to provide a forum for regulators from all backgrounds to come together to hear from experts and discuss their shared issues so that, by... Read More »
ACI Announce First NZ Based Board Member: Following on from ACI’s recent election of the 2006/2007 Board members, the Australasian Compliance Institute is pleased to announce the appointment of their first New Zealand based board member, Ms Sarah Auva’a. Sarah Auva’a is currently Senior Counsel – Group Fair Trading for Telecom New Zealand Limited and joined Telecom’s Risk Services Team in 1999 as Manager... Read More »
ACI announces new CEO - Martin Tolar: Australasian Compliance Institute announces new CEO - Martin Tolar The Australasian Compliance Institute is pleased to announce the commencement of their new Chief Executive Officer, Martin Tolar. Martin Tolar brings a wealth of knowledge to ACI with over 8 years experience working within the... Read More »
Compliance e-news latest edition - October/November 2006: ACI is pleased to announce the release of the latest edition of Compliance e-news for October/November 2006. This latest edition includes a number of interesting articles, some reflection on our 10th Birthday achievements and an introduction to our new CEO - Martin Tolar. To obtain a copy of this edition use the link here . ... Read More »
Invitation to provide Tax Update sessions for ATO: Invitation to provide quarterly Tax Update sessions for February and May 2007 for ATO Background ACI has a Deed of Agreement with the Australian Taxation Office for the provision of Learning and Professional Development Services, specifically for provision of Continuing Professional Development programs/activities. The Tax Office has a requirement for the provision of... Read More »
ASIC Media releases - October 2006: Read More »
Invitation to vote in the Election of Directors to the ACI Board: Annually, ACI elects a minimum of six directors to serve on the Board. This year there are eleven vacancies open in a variety of categories. Nominations have now been collated and detailed information about candidates for each section is available via the links below. Voting is open to all "Voting Members" of ACI and you can access... Read More »
ASIC Media releases - September 2006: Former GE branch manager banned by ASIC - Tasmania Brisbane internet services provider convicted Sydney man James 'Jim' Byrnes banned Gold Coast director pleads guilty to failing to disclose change in director interests Injunctions granted over Queensland investment schemes Former directors face charges... Read More »
Compliance E-News - August: Please see the latest edition of the Compliance E-News. We hope you enjoy reading it! Click here to download the August 2006 edition of Compliance e-news Read More »
Sponsorship Opportunities at ACI Regulator Conference: Sponsorship and Exhibitor opportunities at the up coming ACI Regulator Conference The Institute offers unique exposure to compliance decision makers in some of Australia’s leading organisations and is the recognised leader in the field of compliance and the integration of ethics, governance and risk management into the way organisations operate. With over 1,600 members... Read More »
ACI Materiality & Breach Reporting White Paper: Help to find the wood from the trees in regulation In recognition of the ever growing burden of financial services regulation, the Australasian Compliance Institute (ACI) has released a white paper on the complex and judgmental issue of materiality and breach reporting. The working party, chaired by Sarah Woodhouse, Board member of ACI, recognises the... Read More »
Inaugural CCP Residential - Leura, NSW - 21-26 June 2006: CCP Residential Intensive - Leura 21-26 June 2006 The CCP program was designed for compliance professionals who had at least 5 years experience in compliance with 2 years at a senior level. The content was designed so that completion of the intensive coupled with the assessments and assignment would meet the academic... Read More »
Compliance E-news June 2006 v5.4: Please see the latest edition of the Compliance E-News. It is the final edition for the 2005/2006 Membership year and we hope you enjoy it! Click here to download the June 2006 edition of Compliance e-news Read More »
ACI AWARDS 2006: Nominations are now open for the ACI Awards for 2006! The ACI Annual Awards recognise outstanding contributions by individuals and corporations for the development and understanding of the compliance profession or implementation of compliance systems in Australia. This year, ACI will be presenting the following awards: Lifetime Member Award – The recipient of... Read More »
ACI Conflict of Interest Submission to ASIC: on ASIC Conflict of Interest Discussion Paper The Institute recalled its Conflict of Interest sub-committee to provide a submission to ASIC with respect to the above Discussion Paper. Even though the submission has been provided to ASIC the sub-committee would value any member's comments as to matters to be included in proposed further dialogue with ASIC on... Read More »
Compliance E News 5.2 April 2006: E News for April 2006 is now available. In this edition Lucienne Layton pays tribute to the late Brian Sharpe. Click here to download your copy Read More »
Anti-Money Laundering & Counter Terrorism Financing (AML/CTF) Exposure Bill: ACI Submission to Attorney General .... ACI have provided comments to the Draft AML/CTF Exposure Bill. Copy of letter can be downloaded from our Resource Library Read More »
AML Workshop Presentation 2006: This PowerPoint presentation was the basis for the Anti-Money Laundering workshop series (sponsored by Ernst & Young) held through March 2006. Presentation can be downloaded from Resources Library Read More »
AML Workshop - National Program: The national program Thursday in Brisbane. If you have any doubts about whether you are caught within the 64 designated services; Are the know your customer obligations really difficult - or do you do enough now? If you want to know where your risks and... Read More »
Compliance Profession 2006 Salary Survey: The Salary Surve y for your profession has been completed and is ready for you. Click on the picture to download. This is a large file of 1.2MB. ACI_Salary_Survey_2006.pdf Read More »
Compliance E News 5.1 February 2006: The Salary Survey Edition of E News can now be downloaded. An important part of the survey was an examination of what we do for you. I would welcome feedback. Call on 02 9290 1788 or email me . compliance_e_news_5_1.pdf Read More »
AML Survey: An Anti-Money Laundering survey is being conducted by Ernst & Young. This annonymous survey will provided data for a report that will be published by EY and ACI. Please note the survey is being conducted by a third party and you will be leaving the ACI site. Click to leave the ACI... Read More »
The Accreditation Maze Just Got Simpler - IT'S YOUR CAREER - TAKE CONTROL!: Accreditation is the prerequisite for transforming the compliance role into a true profession. You have told us that the system is too complex and onerous. We have listened. While we will not degrade the professional standards, we have made the application process simpler. Accreditation Workshop Attendee Materials.pdf Join Annette Donselaar Head of Regulatory... Read More »
Events Calendar January - June 2006: Events Calendar for first half of 2006 Although all of these events aren't yet on the Events page for registration, please feel free to have a look at some of the events planned for members and guests in the first half of 2006. We look forward to seeing you at these events and seminars. As always, if... Read More »
2006 Course Schedule: The 2006 course schedule has now been finalised. Courses have been scheduled in week-long blocks in Sydney and Melbourne to maximise the opportunity for those who need to travel. Click here to download a copy of the schedule. Please note that at this stage, we do not expect to run these courses again in 2006... Read More »
Postgraduate Programs in Regulatory Studies: Monash Centre for Regulatory Studies From March 2006, Monash University's new Centre for Regulatory Studies will offer postgraduate programs in regulation, designed to enable students to understand and respond to contemporary regulatory challenges. Further information about these programs and the Centre for Regulatory Studies is included in the attached PDF. CRS Information ... Read More »
AML Bill: The AML bill is avialable and can be downloaded by clicking here AML Bill.zip Register for the AML workshop. Places are limited. Register now. Read More »
ACI Journal - Invitation for Papers: ACI will be publishing a high quality, refereed journal in July 2006. Contributions are being sought now. The Journal, is different from Compliance E News in that the articles will be refereed and will need to meet high academic standards or deliver important practical insights. Two categories of articles are being sought: ... Read More »
Sydney Morning Herald Article 12th December Hangover hits good and bad: Hangover hits good and bad December 12, 2005 Download PDF Version Are tighter controls on companies a blessing or a curse? Margot Saville reports. SHAREHOLDERS in HIH are not the only ones to have suffered from the insurance company's $5.3 billion collapse in 2001. Here and overseas, governments have reacted... Read More »
ACCC Compliance Program Review Templates: The ACCC has released 4 templates for reviewing compliance programs in micro, small, medium and large enterprises. The ACCC has also released a guide to the templates for medium and large enterprises. Copies of all the documents can be downloaded from the ACI web site together with copies of... Read More »
WANT VISIBILITY? Become an ACI Sponsor: With over 2,000 members and guests, ACI provides a focused marketing channel for you to get to the key decision makers. Our members include leaders in the field of compliance, risk and ethics in some of the largest organisaitions in Australia. Opportunities include: Channel Description... Read More »
Complaints Benchmarking - ISO 10002: ISO10002 Complaints Processes Diagnostic Price $400 plus GST - members only: QUICK LINK TO PURCHASE The Australasian Compliance Institute (ACI) has arranged with Listening Post for their self-assessment diagnostic to ISO10002 (the international standard for complaints-handling) to be made available to ACI members. While payment is through the ACI secure gateway,... Read More »
2 Minute Guide: The 2 Minute Guide to Compliance Ethics, Governance and Risk is available as a free PDF download. It can also be purchased as a hard copy from the shop. Read More »
Labrynth Letter AFR 28th October: You know you've "made it" when you get your own cartoon! Download letter in the AFR and cartoon as PDF Read More »
Comply or Die Merchandise - the politically incorrect compliance prompt: The ACI web site has an on-line shop where you can purchase reports, materials and merchandise such as the comply or die t shirt. Click on the picture to go to the shop Read More »
E Networking - your choice!: Networking is one of the great benefits of belonging to ACI. It is almost tautological to say most of the answers to your compliance issues have been addressed by your fellow members, but the problem is: How do I find them? ACI provides many events for members to meet, but too often... Read More »
ASIC AUDIT POWERS: GOVERNMENT CONSULTS ON PROPOSALS TO REFINE ASIC'S AUDIT INSPECTION POWERS The Parliamentary Secretary to the Treasurer, the Hon Chris Pearce MP, today released a consultation paper on proposals in relation to the powers of the Australian Securities and Investments Commission (ASIC) to conduct audit inspections. 'The proposals are primarily directed at avoiding unnecessary duplication between... Read More »
Recruiting through ACI: ACI provides a service to recruiters looking to recruit compliance and risk professionals from within our membership. We provide two strucutures: On-Line Advertisement AN on-line advertisement consists of: Email alert to members of the new vacancy - distributed each Friday and includes other alert material such as new events and activities. ... Read More »
Compliance Whitepaper - Professor Allan Fels AO: ACI would like to make available to its members a Whitepaper recently completed by Professor Allan Fels AO, on Compliance. You can access a PDF of the finished paper by clicking the link below. Compliance Whitepaper Read More »

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