regulation

How ASIC Can Become a Feared Regulator

Jonathan Rochford

The revelations last week at the Banking Royal Commission illustrate the economic principle that people respond to incentives. Charlie Munger long ago summed this up with “show me the incentive and I will show you the outcome”. The rewards for ripping off customers are substantial, the probability of being caught... Show More

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A dangerous consensus

Livewire Exclusive

At the height of the financial crisis, credit markets seized up and liquidity disappeared. In the aftermath of Lehman’s bankruptcy, this caused huge headaches for investors, institutions, and regulators. It may surprise you to learn then, that turnover in these markets is lower today than it was at the nadir... Show More

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Separating the value from the story

Livewire Exclusive

Currently, the market’s ‘story’ for the global banks is not a positive one. Increasing regulation, the threat of fines and lawsuits, and a general investor-apathy have conspired to make banks an unpopular investment. Nick Kirrage, Portfolio Manager at the Schroder Global Recovery Fund, says it’s this negative story that’s created... Show More

Why I wouldn't invest in India

Mugunthan Siva

Last week, Apple CEO Tim Cook told analysts that “India is moving fast. They are moving at a speed that I have not seen in any other country in the world.” Despite this and many other positive endorsements, investors often procrastinate and identify reasons not to invest in India’s growth.... Show More

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Anniversaries, Smart Money, and Regulation: It’s all about Trust!

Jordan Eliseo

It’s been a quiet month for gold, with the yellow metal up slightly, despite a reduction in net longs, minor ETF outflows, and a rally in risk assets. Sentiment has definitely turned though, with a buy-the-dips mentality emerging amongst banks, including UBS and Credit Suisse, whilst Peter Grandich thinks “the... Show More

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Liquidity fears may prompt a market rethink

Nikko Asset Management Australia

Liquidity continues to be an ongoing concern for fixed income participants and market regulators globally. Recent high profile failures of funds run by Third Avenue Management, Stone Lion Capital Partners and Lucidus Capital Partners sparked somewhat of a panic, at least in credit markets. The main cause of these failures... Show More

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What Should be on Greg Medcraft’s To-do List?

Jonathan Rochford

Greg Medcraft is lucky to still be the Chairman of ASIC. The eighteen-month extension to his term gives him an opportunity to fix the many problems he hasn’t done much on in his first five years. As a the graphic below from a recent review of ASIC’s capabilities shows, there’s... Show More

regulation asic Longform

Five years ago the extent of credit losses was the biggest risk for investors looking at financials, today regulation risk is the unknown

Livewire Exclusive

Five years ago the extent of credit losses was the biggest risk for investors looking at financials, today regulation risk is the unknown. According to Uday Chiruvu, of PM Capital, as credit markets across the globe have improved the questions investors need to understand are around the minimum capital levels... Show More

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Faced with a housing bubble similar to that of the US 5 years ago, New Zealand has tried a novel way of controlling the bubble without raising interest rates...

Livewire News

Faced with a housing bubble similar to that of the US 5 years ago, New Zealand has tried a novel way of controlling the bubble without raising interest rates and jeopardising sluggish 2.5% GDP growth. In a strategy that has recommended for Australia, The Sydney Morning Herald has reported that... Show More

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