Regulatory news

International ratings agency S&P Global has just re‑affirmed Australia’s AAA credit rating.

S&P says “Australia’s fiscal performance is sound” and “Australia has modest public debt by international standards.”

S&P specifically calls out the Government’s ambitious tax and savings reforms for helping improve Australia’s fiscal position over the next decade.

S&P says Australia’s rating benefits from “strong institutional settings and sound fiscal metrics.”

ASIC has today launched a new Small Business Director Essentials hub – a new digital resource to help small business directors understand and meet their obligations.

The hub brings together practical guidance, learning modules and tools in one place, making it easier for directors to access information at key stages of running a company – from planning and setting up, through to operating, restructuring or closing a business.

ASIC Commissioner Kate O’Rourke said the new resources deliver on a key initiative under ASIC’s Small Business Strategy and regulatory simplification program, helping small business directors better understand their obligations under the Corporations Act and access practical guidance and learning resources in one place.

ASIC has disqualified Antonio Torcasio of Melbourne, Victoria, from managing corporations for the maximum period of five years due to his involvement in the failure of eight companies.

Companies listing on Australia’s public market will have greater flexibility to publicise upcoming IPOs under proposals released today by ASIC.