News Update

Year: 2014

  • Government confirms it intends to abolish the ACNC

    11/02/2014

    Federal Social Services Minister Kevin Andrews has revealed the government’s desire to replace the charity regulator, the Australian Charities and Not-for-profits Commission (ACNC) with a charity evaluator model based on the US-based Charity Navigator. Regulation of charities would return to the Australian Securities and Investments Commission (ASIC) and the Australian Taxation Office (ATO).

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  • Superannuation governance reform ignores member rights

    11/02/2014

    Director accountability and member empowerment by providing superannuation fund members with the right to vote directors in or out has not been canvassed by the government in its current consultation on governance in the superannuation industry. From Governance Institute of Australia’s perspective, this is the key governance issue.

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  • Employee share scheme review to boost start-ups

    24/01/2014

    Federal Treasury has renewed the review of the policy settings for employee share schemes (ESSs) for start-ups with the announcement of further stakeholder consultations to address concerns raised over the barriers currently in place restricting the use of ESSs by start-up companies.

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  • Government tones down financial advice reform

    09/01/2014

    The Assistant Treasurer, Senator the Hon Arthur Sinodinos, has announced further reforms to the Future of Financial Advice (FOFA) legislation in keeping with an election promise to implement measures to reduce the compliance costs and regulatory burden on the financial services sector.

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  • Anti-money laundering and counter-terrorism financing review

    09/01/2014

    The Federal Attorney-General’s Department and the Australian Transaction Report and Analysis Centre (AUSTRAC) have jointly announced a review of the money laundering and counter-terrorism framework comprising of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, the Anti-Money Laundering and Counter-Terrorism Financing Regulations 2008, and the Anti-Money Laundering and Counter-Terrorism Financing Rules (the Framework).

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