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Regulation

Yesterday

Science and Industry Minister Ed Husic is trying to establish “guardrails” for AI development.

The AI horrors Husic will head off with ‘guardrails’

Science and Industry Minister Ed Husic is trying to thread the needle with AI rules strong enough to protect society, without killing innovative business.

  • Paul Smith

This Month

Transparency over pay gaps helped improve awareness in the UK.

How UK gender pay gap data helped drive change

Similar data will be published about Australian businesses on Tuesday in an attempt to force similar transparency and action locally.

  • Hannah Wootton

Philip Crawford is on a one-man crusade against Star Entertainment

Depending on who is asked, the corporate lawyer turned casino regulator is either keeping the bastards honest – or hounding them out of business.

  • Zoe Samios
Industry experts back Paul Keating’s predictions for the super industry.

Keating ‘on the money’ on super funds appointing directors

It is a “logical next step” for industry superannuation funds to seek roles on listed company boards, industry experts say, especially in the energy sector.

  • Hannah Wootton
Very few criminal convictions have been achieved in Australia for breaches of corporate law.

Why it’s time for a new financial systems inquiry

It is obvious that the twin-peaks model of financial regulation has had its day. A recalibration is needed.

  • Andrew Bragg
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ASIC’s Simone Constant has put super funds on notice over failures to communicate to customers that they may be invested in dud products.

Super funds, advisers keep customers ‘in the dark’ on duds: ASIC

Many Australians are invested in super products that are underperforming by “a significant amount and over a significant period of time”, ASIC has found.

  • Hannah Wootton
Sydney Airport.

Airlines face more scrutiny on Sydney Airport flight cancellations

The Albanese government is proposing audits of landing and take off slots at the country’s busiest airport as part of a crackdown on anticompetitive behaviour.

  • Jenny Wiggins, Ayesha de Kretser and Maxim Shanahan
Shares in Star Entertainment have fallen more than 20 per cent.

Sydney casino review sends Star Entertainment shares plunging

The company said it would push back a financial update scheduled for Wednesday after it was blindsided by the announcement of a new inquiry into its operations.

  • Zoe Samios

Star Sydney casino licence at risk again

The NSW regulator has launched a fresh inquiry into whether the $1.6 billion company had fixed major cultural failures at its Sydney casino.

  • Updated
  • Zoe Samios

This Sydney woman is helping design the rules for crypto

Chloe White has become the go-to adviser for Middle East crypto companies.

  • Jessica Sier
The ACCC blocked the deal last year saying a merger would “further entrench an oligopoly”. The Australian Competition Tribunal will provide its verdict on that this Tuesday.

Everything you need to know about the ANZ/Suncorp Bank decision

On Tuesday, the Australian Competition Tribunal will decide if the $4.9 billion deal can be done. Whichever way it goes, the ramifications will be significant.

  • James Eyers and Liam Walsh
AustralianSuper chief executive Paul Schroder wants funds to have more involvement in how customers manage their retirement savings.

Big super renews push to take control of retirement savings

AustralianSuper wants to nudge customers into the retirement phase, help them apply for the age pension, and create ‘accounts for life’.

  • Hannah Wootton
As a collective, over-65s increased spending by 6 per cent year-on-year to September, while inflation rose by 5.4 per cent.

Let retirees control their super money, Treasury told

Some funds are pushing for reforms to default customers into pension products, even as ASFA suggests this could disadvantage some people.

  • Hannah Wootton
Atlas Arteria is trying to raise toll fares on a US toll road near Washington, the Dulles Greenway.

Atlas Arteria’s 40pc Washington toll rise proposal hits dead end

A report by officials in Virginia warns that the financials at the ASX-listed motorway group’s Dulles Greenway will “very likely remain depressed”.

  • Jenny Wiggins
Stew Glynn warns Australia’s next generation of entrepreneurs could be stung by sophisticated investor reforms.

Investor reforms could ‘push the next Canva offshore’

Younger Australians and women could be big losers from changes which could block more than 40 per cent of angel investors from funding start-ups, a survey says.

  • Lucy Dean and Hannah Wootton
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Coalition senator Paul Scarr says Labor needs to do more work before reforming sophisticated investor laws.

Alarm over ‘heavy human cost’ of sophisticated investor test changes

Liberal senator and former listed company secretary Paul Scarr has warned the proposed reforms risk “swinging the regulatory pendulum too hard and too far”.

  • Hannah Wootton
Assistant Treasurer Stephen Jones has yet to sign off on the rules.

Banking regulators confirm delay of executive accountability rules

ASIC and APRA say they will delay the enforcement of key parts of the regime, which came out of the Hayne royal commission, until July.

  • James Eyers
Fat Zebra CEO Pred Dragila.

What this small fintech deal says about the big shifts in data sharing

Few have heard of Fat Zebra and Adatree. But the acquisition points to emerging data rights, as screen scraping teeters and Apple enters open banking in the UK.

  • James Eyers
Banks hoped Stephen Jones would release the final rules on FAR last October, to give them time to prepare.

Bank executive accountability rules delayed as minister goes slow

A key change out of the Hayne royal commission was due to begin in March, but the final rules have been waiting for sign off from the government for months.

  • James Eyers
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Bookmakers desperate for a win from AUSTRAC audits

Low discretionary spend, advertising bans and credit card deposits have made margins tight for the wagering sector. The financial crimes watchdog could make it a lot worse.

  • Zoe Samios