Fuel for shareholder anger

Article Abstract:

It is reported that Robert Ashley, an accountant and a partner in Ashley & Munro, has invested in Mini-Tankers International (MTI) and Higgins Wool Company, and has not yet paid a return to the investors. However, Ashley is back in the market, trying to raise $25 million through a private-equity fund for his two failed investments. The Australian Securities and Investments Commission (ASIC) investigates into the issue to decide whether Ashley, who does not hold an Australian Financial Services licence, should be allowed to raise money.

Company legal issue, Investigations, Securities fraud, Australia. Securities and Investments Commission, Private equity funds, Ashley, Robert

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Swift punishment

Article Abstract:

Australian Securities & Investments Commission and other bodies disapproved of the accounting bodiesE, i.e., CPA Australia, the Institute of Chartered Accountants in Australia (ICAA) and the National Institute of Accountants, slowness in taking action against their errant members. The recent changes to the corporation law (Clerp 9) will ensure a quicker reaction from these accounting bodies against their wayward members.

Government regulation (cont), Government regulation, Professional Organizations, Legal/Government Regulation, Professional Membership Assns, Interpretation and construction, Laws, regulations and rules, Discipline, Corporation law, Trade and professional associations, Professional associations

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