Financial Regulatory Forum

ANALYSIS-Nod for Australia’s Labor likely boost for CO2 laws

By David Fogarty, Climate Change Correspondent, Asia

SINGAPORE, Sept 7 (Reuters) – Australia is now much more likely to introduce a price on planet-warming carbon pollution after support by independents and Greens returned the Labor Party to office on Tuesday.

Independents Rob Oakeshott and Tony Windsor backed Labor on Tuesday, with climate change among their top issues, ending a 17-day wait after an inconclusive Aug. 21 election left neither major party with a majority in the lower house of parliament.

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SCENARIOS-Odds narrow for a mine tax under new Australia PM

By James Regan

SYDNEY, June 28 (Reuters) – The odds of Australia introducing a tough new mining tax have improved under the popular new Prime Minister Julia Gillard who is tipped by pollsters to lead her Labor Party to a general election win this year.

Miners had counted on former premier Kevin Rudd losing the election, expected between August and November, thereby killing the tax proposal which would have only been considered by parliament if Labor formed the new government.

But the first Nielsen poll since Gillard took over on Thursday showed an eight-point swing to the government and gave Labor a comfortable, 55-45 lead over its the conservative opposition.

Australia tax body may harden stand on private equity

   By Victoria Thieberger
   MELBOURNE, April 21 (Reuters) – The Australian tax office has delayed two critical rulings on how private equity firms are taxed, in a move that tax experts say means the office is hardening its stance against private equity. (more…)

China indicts Rio staff for bribery, commercial secrets

By Ben Blanchard and Chris Buckley

BEIJING, Feb 10 (Reuters) – China has indicted four employees of Anglo-Australian mining giant Rio Tinto on charges of bribery and stealing business secrets, setting the stage for a trial in the case that has jangled investor nerves.

The four who are set to stand trial in Shanghai include Australian citizen Stern Hu, state news agency Xinhua said on Wednesday.

If found guilty, they could face up to seven years in jail on the commercial secrets charge, and up to 20 years on the bribery charge, said Zhang Peihong, a lawyer for one of the accused Chinese nationals.

Australia central bank raises rates, more expected

The Governor of the Reserve Bank of Australia (RBA), Glenn Stevens, pauses during an appearance before a parliamentary committee hearing in Sydney September 28, 2009.            REUTERS/Tim Wimborne   (AUSTRALIA BUSINESS POLITICS) By Wayne Cole
SYDNEY, Oct 6 (Reuters) – Australia’s central bank raised its key cash rate by 25 basis points to 3.25 percent on Tuesday and heralded more to come, saying it was safe to row-back on stimulus now that the worst danger for the economy had passed.

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ANALYSIS-Japan banks to bear brunt of new capital rules in Asia

A woman walks past a Nomura Securities branch in Tokyo September 25, 2009. Japan's Nikkei stock average slid 2.6 percent on Friday, as financial shares were hit hard after Nomura Holdings said it plans to issue up to $5.6 billion in shares, raising concerns other banks could follow suit.  REUTERS/Toru Hanai (JAPAN BUSINESS)   By David Dolan
   TOKYO, Oct 2 (Reuters) – After raising $54 billion of equity this year to ride out the financial crisis, banks in Asia are likely to tap markets for billions more as the G20 moves towards tightening capital requirements for global lenders. (more…)

ANALYSIS-New rules point to demand surge for Aussie bonds

A dust storm blankets Sydney's iconic Opera House at sunrise September 23, 2009. A huge outback dust storm swept eastern Australia and blanketed Sydney on Wednesday, disrupting transport, forcing people indoors and stripping thousands of tonnes of valuable farmland topsoil.      REUTERS/Tim Wimborne   (AUSTRALIA ENVIRONMENT IMAGES OF THE DAY)    By Cecile Lefort
   SYDNEY, Sept 25 (Reuters) – Proposed regulations would make Australian banks big buyers of government debt, adding fuel to what is already the biggest rally in 10-year bonds in developed countries in recent months. (more…)

Australia to reform tax on financial securities

australian_flag    SYDNEY, Sept 4 (Reuters) – The Australian government plans to change the law to clarify that dividends paid to holders of debt-like securities may be eligible for a tax credit, under reforms to tax arrangements for financial securities.
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Australia Treasurer warns against early stimulus withdrawal

AUSTRALIA-BUDGET/    LONDON, Sept 3 (Reuters) – Premature withdrawal of economic stimulus could derail a return to global growth, Australia’s Treasurer Wayne Swan said on Thursday.
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Australia to set framework for new trading platforms

RIOTINTO-CHINALCO/   By Sonali Paul
   MELBOURNE, Aug 24 (Reuters) – Australia’s market regulator will take over supervision of real-time trading on the Australian Securities Exchange (ASX), a first step in a long-delayed government plan to allow multiple operators in a A$1 trillion market.
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