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In general, newspapers have taken the view that if people sit in the pub, read headlines and/or articles and then discuss them that the content of that discussion is entirely outside the responsibility of the newspaper. That has been tempered with laws, rules and regulations that cover inflammatory content of one kind or another but so long as the original article stays within the lines of the permissible (no matter how close it comes), the view has held pretty much intact for generations. But if the article is on the internet and the discussion is not within a handful of people muttering into their beer but is available to the...

Editorial Staff
Publication: 

CommBank troubles with AUSTRAC are so bad that, in a statement on the bank's website, it doesn't even get the FIU's name consistently right.

And as for shareholders, the statement is hardly worth the paper it isn't written on.

Don't say that: 

"Rowter" as a pronunciation of router

Do say this: 

Rooter (yes, even in Australia, and don't snigger as you say it).

A notice from the USA's Office of Business, Industry and Security (BIS) starts "Control of Firearms, Guns, Ammunition and Related Articles the President
Determines No" but the pleasure of reading that is lost when, on scrolling down, the unfortunate spacing in the notice reveals that it's an incomplete sentence and it goes on "Longer Warrant Control under the United States Munitions List (USML)." It's a proposal, published as a "Commerce proposed rule, Control of Firearms, Guns, Ammunition and Related Articles the President Determines No Longer Warrant Control under the United States Munitions List (USML) published in the Federal Register on 24 May, 2018." Far from the idea that Trump might be having second thoughts about gun control, he actually plans to arm the world with the very weapons that American nutcases use to massacre schoolchildren and others. Or does it?

Editorial Staff

Yesterday, we were supportive of Westpac in a case where adverse social reaction did not take account of the realities of the case. Today, they are getting a well deserved kicking from Beach, J in the Australian High Court. His Honour's language bordered in the intemperate in his obvious anger.

Editorial Staff
BIScom Subsection: 

In Australia at present, there is a culture of attacking banks no matter what. Any handy stick can be used to beat them with. A case involving Westpac and a seriously ill disabled woman demonstrates that the craze has gone too far.

Editorial Staff
BIScom Subsection: 

As the US bill to roll-back the Dodd-Frank reforms that were designed, amongst other things, to stabilise banks to protect them from failure is sent to the President, who promoted it, for signature, BankingInsuranceSecurities.com points out one statistic that might indicate how successful Dodd-Frank has been and why the changes increase the USA's risk profile.

Editorial Staff
BIScom Subsection: 

The following job posting appeared on LinkedIn

Our Client is looking for skilled a specialist who is ready to relocate to Ottawa, Canadac

If a little shop told its customers that they could have a special offer that cost x, then denied them when they arrived, then told them the price was actually 15% more than x, then when the bill arrived it was for a further 20%, credit card companies would be deluged with complaints and chargebacks. But that is exactly what Microsoft's Skype does, as Nigel Morris-Cotterill demonstrates.

Nigel Morris-Cotterill
BIScom Subsection: 

Don't say that: 

Wait time

Do say this: 

Waiting time

Australia's Royal Commission into financial services has criticised the Australian Securities and Investment Commission (same word, different meaning) in relation to so-called enforceable undertakings. There is a problem but in part it's caused by factors outside ASIC's control.

Editorial Staff
BIScom Subsection: 

The Solicitors' Regulatory Authority which regulates solicitors in England and Wales has begun proceedings against a partner of one of the bluest of blue chip firms in London alleging that he failed to undertake adequate due diligence for money laundering risk purposes when taking on two young women as clients. To be clear: this is a prosecution by the Solicitors' Regulatory Authority, not the police. It is a criminal prosecution for failing to comply with the Money Laundering Regulations. This is big stuff.

The Australian Securities and Investments Commission (ASIC) has permanently banned financial adviser Ezzat-Daniel Nesseim from providing financial services.

Editorial Staff
BIScom Subsection: 

The Monetary Authority of Singapore (MAS) announced today that it has issued prohibition orders (POs) against six individuals for the mis-selling of investment products. The individuals are:

Editorial Staff
BIScom Subsection: 

The case is building against former Prime Minister Najib and so far the focus is on money laundering. But there is another, easier to prove and much faster and much cheaper way to take action against both Najib and his wife, Rosmah and although there's an implied abuse of power, there's no need to prove it, no need to prove money laundering, no need to prove that money was stolen from 1MDB or elsewhere. There is a quick, simple, brutal tool at the government's disposal that might enable the near-immediate recovery of more than three million ringgit.

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