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Regulatory & Government

Backing for contract terms reform as Hayne reopens

19 November 2018

Policy submissions to the Hayne royal commission have shown “substantial agreement” on extending unfair contract terms to insurance and introducing disclosure reforms, Counsel Assisting, Rowena Orr, told the opening of the final round of hearings today…

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IAG steps up to protest ‘unfair’ CTP proposals

19 November 2018

IAG has taken an unusual step for an insurer by warning against ACT compulsory third party (CTP) draft laws that may make it more difficult for low-income earners to have their injuries independently assessed…

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IASB mulls delay on accounting standard

19 November 2018

The start date for a new insurance accounting standard may be deferred by a year pending the outcome of a public consultation, which is expected next year…

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Senators doubt new dispute body’s abilities

19 November 2018

A Senate committee’s report on consumer protection in financial services has questioned the effectiveness of external dispute resolution schemes…

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Canberra funds future surge in prosecutions

19 November 2018

The Federal Government has announced a $51.5 million funding boost to fight financial misconduct…

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Regulators flag ‘forceful’ response

19 November 2018

The financial services industry has been warned to expect a tougher approach from corporate and prudential regulators next year…

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Former governor-general to lead EQC inquiry

19 November 2018

The New Zealand Government has named former governor-general Silvia Cartwright as head of a public inquiry into the Earthquake Commission, and has released her terms of reference…

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APRA flags AASB 17 consultation

19 November 2018

A discussion paper outlining the approach to integrating new accounting standards into the capital framework for insurers will be released at the end of next year…

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