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Australia

If enough people get to see it, Australian Prime Minister Scott Morrison's press conference in Bourke Street, Melbourne this morning will go down as one of those jaw-dropping moments in politics. It was a no-holds barred, balls-out, unequivocal challenge to "communities" in Melbourne to identify and report indicators of extremism for the sake of Australia and, importantly, for their own sake. A straight-talking poli? Strewth.

Editorial Staff
Publication: 

Last year it was FinTech. 2018 was scheduled to be the year of RegTech but the crazy inflation in the value of crypto-currencies at the end of 2017 hijacked that and this year became the year where no sentence was complete without the word "blockchain" somewhere in it, or so it seemed. But the love affair is already turning sour as reality sets in and the buzzword junkies are at last being shown for what they are: opportunists who will be onto the next big thing as soon as someone tells them what it is.

Bryan Edwards
Publication: 

The iconic fashion boots UGG are famously Australian.

Or so consumers were falsely told by Ozwear Connection, a wholesaler of footwear and accessories in Australia.

And then there's the question of exactly what is an "ugg" boot.

Editorial Staff

Australian Securities and Investments Commission (ASIC) has announced that in an agreed settlement before the Federal Court, Australian financial services group Westpac will pay a civil penalty of AUD35 million after admitting breaches of Australia's responsible lending rules. The door-of-the-court settlement avoids a lengthy trial that should have started yesterday.

*** Update: see Westpac's new best friend? Australian Federal Court rejects settlement with regulator ***

Editorial Staff
BIScom Subsection: 

Australia's ASIC has undertaken an extensive review of so-called "reverse mortgages" which are actual mortgages with potentially catastrophic long-tail results, which may be one of the things that borrowers did not understand. The findings of the review are startling.

Editorial Staff
BIScom Subsection: 

The attacks on a mother over parenting, culture and her love for her child demonstrate that political correctness is bullying, unthinking, brash and racist. And the racists chose the most accepting venue of all - Australian Masterchef - to demonstrate the worst side of so called progressivism and liberalism.

Editorial Staff

There's bound to be some head-scratching going on after the announcement of a cartel case relating to blood and body tissue. Before the "yuk" factor makes you turn the page, we should explain: it's all about stem cell preservation.

Editorial Staff
Publication: 

The Australian Consumer and Competition Commission (ACCC) has this morning issued a warning about kidnap and ransom threats made against, in particular, Chinese residents in Australia with more than 1,700 cases reported so far in 2018.

Editorial Staff

There's a huge amount of excitement in Australia about the prosecution of several bankers for colluding in a share support scheme where a share issue did not fully sell out. Instead of being charged with market manipulation, itself a serious offence, federal prosecutors have taken the alternative of charging them with cartel offences. There's a lot of people spinning like tops, having panic attacks about what it means for investment banking and the professional support services like lawyers and accountants that are a central part of all public offers. But there is nothing complex about the fundamentals of the case.

Editorial Staff
BIScom Subsection: 

FCRO Subsection: 

It's the fault of Hollywood and TV producers everywhere, with a bit of help from the tabloids and the over-excitement of both American politicians and law enforcement: as soon as someone mentions "cartel," thoughts jump to major drugs gangs. It's the same problem that led to a survey result in the UK where children thought the emergency telephone number is 911 (it's 999 and there are also European standard numbers that start with a 1 but no one can be bothered to remember them). In the vast majority of cases, the word "cartel" doesn't relate to drugs gangs at all. In relation to the way people conduct business by means of illegal collusion. That might not be as "sexy" as the idea of bankers being dragged to jail with their noses still covered in white powder but the ramifications of...

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