Shaking Up Insolvency I was reading with great interest, the article entitled “Investors win in insolvency shake-up” in the AFR on 3 June 2011. The article discusses the Federal Government’s proposals to change the way liquidators, administrators and insolvency firms are appointed, termi...
Readmore »Following my previous blog on the subject of the Government’s proposed financial planning reforms, I have been asked to identify who will be the winners and who will be the losers if the changes proceed....
Readmore »I was interviewed last week regarding the stories of Sri Lankan-born Raj Rajaratnam, head of the Galleon Group in the US or young Sydney equities dealer John Hartman, both found guilty of insider trading. The journalist wanted my opinion on whether I thought these high profile convictions will affec...
Readmore »I was reading the interesting Chanticleer article in the Easter edition of the Australian Financial Review on Friday entitled “Big Banks’ days in the sun could be numbered”. The basic premise of this article is that the current run of high bank profits which are benefiting from reducing lev...
Readmore »There is a big battle going on between some parts of the financial planning industry and the Federal Government (Financial Services Minister Bill Shorten) about the need to reform the financial planning industry. Firstly, I need to admit that I have operated on all sides of the wealth management ...
Readmore »Yesterday's report in the Sydney Morning Herald regarding Australian Securities & Investments Commission (ASIC) vs Professional Investment Services (PIS) is both interesting and alarming. ASIC conducted a surveillance visit back in 2006 and PIS agreed in an enforceable undertaking that it may have b...
Readmore »Synergy - What is it and how does it work? A number of people have asked me about synergy (which is described in most business strategy books as making 2 + 2 = 5) and what it means from a corporate perspective. Stuart Hackett, former CEO of GIO Building Society has extensive experience when it com...
Readmore »The Australian Securities & Investments Commission's ("ASIC") findings in their consultation papers released yesterday will come as no surprise to any company directors. ASIC have suggested that boards should disclose all dealings between a company and someone with a close personal interest known as...
Readmore »It has recently been announced that Santos (a major Australian oil services company) is soon to raise over $500 million (denominated in Euro) from European investors by means of a financial instrument that is effectively a bond (in that it pays regular interest payments), but has been classified a...
Readmore »Corporations have been advised a hundred times before that key persons to the success of our businesses must be protected. From the tragedy of the Busby Babes, to the announcement that we lost six of Australia's top mining executives, all from one company, we are still ignoring that advice. Why?...
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