Australian Securities And Investments Commission News
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Nathan Tinkler was accused in a lawsuit of insolvent trading after the former mining billionaire failed to complete a share purchase in Blackwood Corp.
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Regulators cleared Nasdaq OMX Group Inc.’s plan to pay $62 million to compensate brokers for its mishandling of Facebook Inc.’s public debut, dealing a defeat to Wall Street firms that say they lost many times that amount.
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Cyprus dodged a disorderly default and unprecedented exit from the euro by bowing to demands from creditors to shrink its banking system in exchange for 10 billion euros ($13 billion) of aid.
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The Federal Energy Regulatory Commission lacks authority over futures contracts, a U.S. appeals court ruled, handing a victory to the Commodity Futures Trading Commission and an ex-Amaranth Advisors LLC trader fined $30 million by FERC.
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U.S. regulators should apply domestic derivatives rules to overseas firms when foreign laws don’t demand comparable requirements, Securities and Exchange Commission Chairman Elisse B. Walter said in a speech today.
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Dark pools reduce efficiency by dividing markets and should be avoided unless there’s a good reason, such as block trades, to use them, said ASX Ltd. Chief Executive Officer Elmer Funke Kupper.
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High-frequency trading in Australia’s equity markets requires a “measured response,” said the country’s securities watchdog before the release next week of a study on regulation in the industry.
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Mergers between exchange companies around the world may increase risks for investors as fewer companies handle derivatives trading and clearing, said the head of Australia’s securities regulator.
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Reserve Bank of Australia Governor Glenn Stevens said the Group of 20 should focus on implementing rule changes in the financial system rather than adding new reforms when Australia takes over the presidency next year.
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James Hardie Industries SE, a seller of building products, misled investors about funding asbestos- related claims and seven directors breached their duties by approving the statements, Australia’s top court ruled.
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