Institutional investment in Australia is both highly innovative and complex. The regulatory focus – and associated literature – on institutional investment has been on the sell-side. Considerably less attention has been paid to the buy-side, that is to the institutional investors themselves....

This paper is one of a series of working papers that explore various aspects of Australia's system of financial regulation and the relevance of its experience to reform in other countries. Adopting a broad perspective that outlines the context in which the system operates in Australia, it...

This paper examines the legal structure of securities lending in Australia, and also Europe, the United Kingdom and United States. It provides an analysis of the widely used industry documents, the Australian Master Securities Lending Agreement and the Global Master Securities Lending Agreement...

This paper examines the corporate governance implications of securities loans, in particular the impact of securities loans on shareholders' voting rights and the control of listed Australian companies. The paper considers whether the current regulatory framework for securities loans in...

This working paper is the first published output of an eighteen month (December 2014-June 2016) research project conducted by staff at the Melbourne Law School that examines enforcement and penalties regimes under legislation administered by the Australian Securities and Investments Commission...

This working paper presents the results of a detailed comparative empirical study of sanctions imposed for insider trading in Australia, Canada (Ontario), Hong Kong, Singapore, New Zealand, the United Kingdom, and the United States. Insider trading is considered to be a serious form of...

This paper analyses enforceable undertakings or formally negotiated settlement agreements between the Australian Securities and Investments Commission (ASIC) and regulated firms and individuals. It reports the findings of an empirical study of 414 enforceable undertakings accepted by ASIC from 1...

This paper presents the preliminary findings of an empirical analysis of sanctions imposed in proceedings brought by Australian Securities and Investments Commission (ASIC) and the Commonwealth Director of Public Prosecutions (CDPP) for contraventions of the directors' duties provisions of the...

As China's financial system has become more complex and integrated, calls have intensified for structural reform. In particular, many commentators have called for China to move towards the twin peaks model of financial regulation along the lines of the experience in Australia. This paper...

Recent years have seen a trend in many jurisdictions towards the adoption of short-form disclosure documents for retail financial products. This paper analyses the challenges and trends in relation to short-form disclosure documents from a comparative perspective. Developments in the following...