O77 Public Order Safety and Regulatory Services

Boral lobbies senators for ABCC

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Original article by Ewin Hannan
The Australian Financial Review – Page: 8 : 12-Aug-15

Boral CEO Mike Kane has met with Senate crossbenchers to persuade them to support the legislation that reinstates the Australian Building & Construction Commission (ABCC). The Senate will vote on the ABCC bill in mid-August 2015. Australian Mines & Metals Association CEO Steve Knott urged crossbenchers to support the bill.

CORPORATES
AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, BORAL LIMITED – ASX BLD, AUSTRALIAN MINES AND METALS ASSOCIATION (INCORPORATED), AUSTRALIA. DEPT OF EMPLOYMENT, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, THE AUSTRALIAN INDUSTRY GROUP, AUSTRALIAN LABOR PARTY

ASIC seeks lifetime ban for company director

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Original article by Sarah Danckert
The Australian Financial Review – Page: 20 : 29-May-15

The Australian Securities & Investments Commission (ASIC) believes that Bill Lewski’s 15-year ban on serving as a company director is insufficient. It wants the founder of Prime Trust to be permanently banned from holding such positions, while it has argued in the Full Federal Court that a $A230,000 fine for breaching his duties as a director is also inadequate. ASIC is seeking higher fines for several other Prime directors.

CORPORATES
PRIME RETIREMENT AND AGED CARE PROPERTY TRUST, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, FEDERAL COURT OF AUSTRALIA, PLACES VICTORIA

‘No reason to deny’ Qantas-China Eastern deal

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Original article by Matt O’Sullivan
The Australian Financial Review – Page: 18 : 14-Apr-15

The Australian Competition & Consumer Commission (ACCC) opposes an alliance between Qantas and China Eastern Airlines. However, the Department of Infrastructure & Regional Development’s submission on the regulator’s draft decision argues that the alliance will benefit travellers and the Australian economy. It takes the view that the ACCC has focused too much on the alliance’s impact on competition on the Sydney-Shanghai route

CORPORATES
QANTAS AIRWAYS LIMITED – ASX QAN, CHINA EASTERN AIRLINES CORPORATION LIMITED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIA. DEPT OF INFRASTRUCTURE AND REGIONAL DEVELOPMENT, CATHAY PACIFIC AIRWAYS LIMITED, SINGAPORE AIRLINES LIMITED, MALAYSIAN AIRLINE SYSTEMS, UNIVERSITY OF TECHNOLOGY, SYDNEY. AUSTRALIA-CHINA RELATIONS INSTITUTE, AIR CHINA

FIRB clears China Communications acquisition of John Holland

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Original article by Jenny Wiggins
The Australian Financial Review – Page: 20 : 9-Apr-15

Leighton Holdings’ sale of defence contractor John Holland to China Communications Construction Company has been cleared by the Foreign Investment Review Board. Federal Treasury Joe Hockey says the $A1bn deal does not raise any national interest concerns. John Holland is estimated to have undertaken some $A470m worth of construction contracts for the Department of Defence in 2014

CORPORATES
LEIGHTON HOLDINGS LIMITED – ASX LEI, JOHN HOLLAND PTY LTD, CHINA COMMUNICATIONS CONSTRUCTION GROUP LIMITED, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF DEFENCE, THE STOCK EXCHANGE OF HONG KONG LIMITED, WORLD BANK, CHINA ROAD AND BRIDGE CORPORATION, AUSTRALIAN SECURITY INTELLIGENCE ORGANISATION

Pre-emptive $A spike attracts ASIC interest

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Original article by Vesna Poljak
The Australian Financial Review – Page: 26 : 8-Apr-15

The Australian Securities & Investments Commission will investigate further unusual currency trading activity on 7 April 2015. The Australian dollar again rose suddenly shortly before the Reserve Bank revealed that it had left the cash rate on hold. The corporate regulator is looking into similar trading activity in the previous two months. The dollar was buying $US0.7699 late in trading, and Richard Yetsenga of the ANZ Bank expects it to remain at around this level in the near-term

CORPORATES
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, RESERVE BANK OF AUSTRALIA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, UNITED STATES. FEDERAL RESERVE BOARD, RESERVE BANK OF INDIA, EUROPEAN CENTRAL BANK, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Small business warning

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Original article by James Eyers
The Australian Financial Review – Page: 15 : 1-Apr-15

The Australian Bankers’ Association’s submission on the financial system inquiry has broadly supported the recommendations on increased capital requirements for the nation’s banks. However, it has questioned the need for local banks to be in the top quartile of banks globally. The submission also raises concerns over the proposal for credit contracts to be covered by laws on unfair contracts, noting the potential impact on loans to small businesses

CORPORATES
AUSTRALIAN BANKERS’ ASSOCIATION, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF INDUSTRY AND SCIENCE, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

ACCC frowns at China Eastern tie

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Original article by Jamie Freed
The Australian Financial Review – Page: 19 : 25-Mar-15

The Australian Competition & Consumer Commission (ACCC) is concerned about a proposed alliance between Qantas and China Eastern Airlines. The ACCC has opposed the alliance in its draft ruling, arguing that the two carriers would dominate the Sydney-Shanghai route. ACCC chairman Rod Sims says he would be more willing to support an alliance between Qantas and carriers such as China Southern or Air China, as Qantas does not currently have flights to their main hubs

CORPORATES
QANTAS AIRWAYS LIMITED – ASX QAN, CHINA EASTERN AIRLINES CORPORATION LIMITED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AIR CHINA, CHINA SOUTHERN AIRLINES COMPANY LIMITED, CATHAY PACIFIC AIRWAYS LIMITED

Third of super funds ‘vulnerable’

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Original article by Clancy Yeates
The Australian Financial Review – Page: 6 : 19-Mar-15

The Australian Prudential Regulation Authority (APRA) has found evidence of insufficient awareness of conflicts of interest among superannuation funds. A third of the 40 funds reviewed by APRA were found to have policies on conflicts of interest that were judged to be "weak" or "vulnerable". APRA will send a letter to super funds about the need for more vigilance in this area

CORPORATES
AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, CONFERENCE OF MAJOR SUPERANNUATION FUNDS (CMSF) PTY LTD, CONSTRUCTION AND BUILDING UNIONS’ SUPERANNUATION FUND, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA

Chi-X calls for share clearing split

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Original article by Shaun Drummond
The Australian Financial Review – Page: 16 : 16-Mar-15

Submissions on the Council of Financial Regulators review of ASX Limited’s monopoly on equities clearing must be lodged by 27 March 2015. John Fildes, the CEO of rival stock exchange operator Chi-X Australia, argues that the ASX Clear business should be subject to formal separation from ASX Limited or internal separation to ensure independent access to equities clearing. Fildes acknowledges that the domestic market is too small to justify introducing competition in the sector

CORPORATES
ASX LIMITED – ASX ASX, CHI-X AUSTRALIA PTY LTD, COUNCIL OF FINANCIAL REGULATORS, LCH.CLEARNET SA, ASX CLEAR

ACCC pushes for powers to intervene in ports rents row

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Original article by Jenny Wiggins
The Australian Financial Review – Page: 15 : 16-Mar-15

Australian Competition & Consumer Commission (ACCC) chairman Rod Sims has proposed extending its powers to cover regulation of the nation’s ports. Sims has suggested that the ACCC could step in to resolve pricing disputes between port owners and stevedoring groups. Sims recently discussed the issue with DP World Australia CEO Paul Scurrah, who supports giving the ACCC a greater role in regulating ports but does not believe that full regulation is necessary

CORPORATES
AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, DP WORLD AUSTRALIA PTY LTD, PORT OF MELBOURNE, INTERNATIONAL CONTAINER TERMINAL SERVICES INCORPORATED, AUSTRALIAN LOGISTICS COUNCIL, VICTORIA. ESSENTIAL SERVICES COMMISSION