O77 Public Order Safety and Regulatory Services

Toll rivals say JP sale poses sovereign risk

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Original article by Jenny Wiggins
The Australian Financial Review – Page: 13 & 18 : 23-Feb-15

One Global Logistics MD James Sparke has warned of potential sovereign risk issues associated with government-owned Japan Post’s takeover bid for Toll Holdings. Meanwhile, Toll CEO Brian Kruger does not expect any of the group’s customers to enforce the "change of control" provisions of their contracts if the $A6.5bn takeover bid proceeds. The deal requires approval from the Foreign Investment Review Board

CORPORATES
TOLL HOLDINGS LIMITED – ASX TOL, JAPAN POST, ONE GLOBAL LOGISTICS PTY LTD, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, AUSTRALIAN DEFENCE FORCE, UNITED STATES NAVY, CHEVRON CORPORATION, ORICA LIMITED – ASX ORI, BARRICK GOLD CORPORATION, WOOLWORTHS LIMITED – ASX WOW, NIKE INCORPORATED, OFFICE DEPOT INCORPORATED, FISHER AND PAYKEL APPLIANCES HOLDINGS LIMITED, AUSTRALIA. DEPT OF THE TREASURY, ARCHER DANIELS MIDLAND COMPANY, GRAINCORP LIMITED – ASX GNC, HUAWEI TECHNOLOGIES COMPANY LIMITED, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIA POST, STAR TRACK EXPRESS PTY LTD, LINCOLN INDICATORS PTY LTD

AMP cautions against new US-style test

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Original article by Ruth Liew
The Australian Financial Review – Page: 17 : 20-Feb-15

AMP CEO Craig Meller says there is widespread acceptance of the need for better standards of education for Australian financial advisers. However, Meller has questioned the need for financial planners to undertake a national exam if they already have a university degree. The Australian Securities & Investments Commission recently proposed an exam system modelled on the Series 7 exam that is used in the US

CORPORATES
AMP LIMITED – ASX AMP, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, BT FINANCIAL GROUP PTY LTD, WESTPAC BANKING CORPORATION – ASX WBC, ST GEORGE BANK LIMITED, BANK OF MELBOURNE LIMITED, BANK OF SOUTH AUSTRALIA LIMITED, FINANCIAL PLANNING ASSOCIATION OF AUSTRALIA LIMITED, FINANCIAL INDUSTRY REGULATORY AUTHORITY INCORPORATED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, MACQUARIE PRIVATE WEALTH MANAGEMENT PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG

Berry ‘poo’ scandal splits Abbott, Joyce

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Original article by Joanna Mather
The Australian Financial Review – Page: 10 : 19-Feb-15

Prime Minister Tony Abbott and Agriculture Minister Barnaby Jones disagree on product labelling rules. Joyce believes that stricter rules are necessary to protect consumers from health hazards. At least 11 Australians have contracted hepatitis after eating imported Chinese berries. Abbott opposes new regulations because they would lead to a greater bureaucratic burden for companies and higher prices for consumers

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF AGRICULTURE, PATTIES FOODS LIMITED – ASX PFL, AUSTRALIAN BROADCASTING CORPORATION, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC

ACCC endorses $13b power sale

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Original article by Will Glasgow
The Australian Financial Review – Page: 9 : 19-Feb-15

The Australian Competition & Consumer Commission (ACCC) has no objections to the New South Government’ plans to partially lease the state’s electricity network. The Government wants to offer 99-year leases, which would cover 49 per cent of the state’s electricity and distribution businesses. ACCC chairman Rod Sims said on 18 February 2015 that the initiative would result in lower prices for households

CORPORATES
AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, AUSTRALIAN ENERGY REGULATOR, FAIRFAX MEDIA LIMITED – ASX FXJ, IPSOS AUSTRALIA PTY LTD, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY

Scrap 15pc ownership cap: Funke Kupper

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Original article by James Eyers
The Australian Financial Review – Page: 17 : 13-Feb-15

ASX Limited has reported a profit rise of 4.7 per cent for the first half of 2014-15. ASX CEO Elmer Funke Kupper said on 12 February 2015 that the stock exchange operator’s ownership cap of 15 per cent is no longer needed and should be removed. He says that globally, stock exchanges are being consolidated and the Australian stock exchange should be allowed to be part of this trend

CORPORATES
ASX LIMITED – ASX ASX, CHI-X AUSTRALIA PTY LTD, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, COUNCIL OF FINANCIAL REGULATORS

Banks douse hot property fears

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Original article by Michael Bennet
The Australian – Page: 19 : 5-Feb-15

Commonwealth Bank of Australia and Westpac Banking on 4 February 2015 joined Bank of Queensland, ME Bank and ING Direct in passing on in full the Reserve Bank of Australia’s interest rate cut of 25 basis points to mortgage borrowers. Meanwhile sector experts have rejected claims that the new all-time low rate of 2.25% will exacerbate a price "bubble" in the residential real estate market, noting that the Australian Prudential Regulation Authority is tightening the rules on home lending

CORPORATES
RESERVE BANK OF AUSTRALIA, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC, BANK OF QUEENSLAND LIMITED – ASX BOQ, MEMBERS EQUITY BANK PTY LTD, ING DIRECT, AUSSIE HOME LOANS LIMITED, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, SUNCORP GROUP LIMITED – ASX SUN, CITIBANK PTY LTD, BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN, MACQUARIE BANK LIMITED – ASX MBL, DEUTSCHE BANK AG

Premier eyes new remit for CCC

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Original article by Daniel Emerson
The West Australian – Page: 11 : 5-Feb-15

Western Australian Premier Colin Barnett has flagged a review of the state’s Corruption & Crime Commission (CCC), conceding that its performance has been below expectations. Barnett has indicated that his preference is for the CCC to focus on investigating organised crime rather than police corruption. Plans to shift its focus to organised crime had been abandoned in September 2012

CORPORATES
WESTERN AUSTRALIA. DEPT OF THE PREMIER AND CABINET, WESTERN AUSTRALIA. CORRUPTION AND CRIME COMMISSION, WESTERN AUSTRALIA. DEPT OF THE ATTORNEY-GENERAL

Investigator has whip hand on harness racing industry

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Original article by Nick McKenzie, Richard Baker, Matt Taylor
The Age – Page: 9 : 3-Feb-15

Victorian Racing Integrity Commissioner Sal Perna has found evidence of corruption in the harness, thoroughbred and greyhound racing sectors. Perna, a former homicide policeman, says he met people who were so distressed with the state of affairs in the industry that they were crying when talking about corruption and the involvement of organised crime. A prominent harness racing driver and his father were arrested on 2 February 2015

CORPORATES
RACING VICTORIA LIMITED, VICTORIA. OFFICE OF THE RACING INTEGRITY COMMISSIONER

CCC pays out for harassment

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Original article by Gary Adshead
The West Australian – Page: 9 : 2-Feb-15

Western Australia’s Corruption & Crime Commission (CCC) is believed to have settled claims by several employees that colleagues had subjected them to harassment and intimidation. Shadow attorney-general John Quigley has called for the State Government to hold a public inquiry into the CCC. There have previously been allegations that some CCC staff engaged in fraudulent activity, and two employees have been charged with criminal offences

CORPORATES
WESTERN AUSTRALIA. CORRUPTION AND CRIME COMMISSION, LIBERAL PARTY OF WESTERN AUSTRALIA

Lion’s share of complaints against Aunty

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Original article by Rosie Lewis
The Australian – Page: 4 : 22-Jan-15

The annual report of the Australian Communications & Media Authority (ACMA) shows that ABC programs attracted the most complaints among TV viewers in 2013-14. However, 33 complaints against the public broadcaster were dismissed, while only one was upheld. Meanwhile, ACMA investigated 25 complaints about the Seven Network and upheld six, while 17 of the 24 complaints against the Nine Network were dismissed

CORPORATES
AUSTRALIAN COMMUNICATIONS AND MEDIA AUTHORITY, AUSTRALIAN BROADCASTING CORPORATION, ABC TV, SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, TEN NETWORK HOLDINGS LIMITED – ASX TEN, SPECIAL BROADCASTING SERVICE (SBS), SKY NEWS, AUSTRALIAN NEWS CHANNEL PTY LTD