Government Regulation And The Stock Market
The companies that live or die with the stroke of a regulatory pen
By Tim Boreham, Editor, The New Criterion
Deep in any corporate vault lies a piece of paper or two that affirms the right of an enterprise to operate, such as articles of incorporation, a banking or broadcasting licence or a mining permit.
Apart from diligent company secretaries, no one else will give the paperwork a second thought. But when this right to operate is threatened, the anxiety level quickly rises.
Nothing exemplifies the dangers more than the stricken
Crown Resorts ((CWN)), which faces a crucial NSW decision on whether it should hold the right to operate Sydney’s second casino. The Independent Liquor and Gaming Authority has deemed the Packer-linked entity to be not suitable, but it’s up to Macquarie Street to decide.
Turnbull has a strong background in the industry having spent over five years as general manager, strategy and communications at superannuation administrator, Superpartners then as group executive, marketing at McMillan Shakespeare, while Nelson has more than 20 years’ experience in education and innovation strategy in both Australia and New Zealand.
“There has been so much change to the superannuation industry and the landscape that it operates in,” Scheerlinck said. “AIST, too, has had to adjust and both Tania and George bring a range of skills and a depth of experience that we believe will benefit profit-to-member funds and, ultimately, their members.”