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Regulatory & Government

ASIC to drop training register

26 August 2013

The Australian Securities and Investments Commission plans to scrap its register of approved training courses for financial product advisers and instead hand responsibility to educators and industry bodies…

NSW CTP revamp ‘put back a year’

26 August 2013

Compulsory third party reforms in NSW will be delayed at least a year after the State Government withdrew legislation from Parliament, according to IAG…

APRA allows transition year for new standards

19 August 2013

The Australian Prudential Regulation Authority has delayed new rules for conglomerates and moves to harmonise risk management standards across general and life insurers and banks…

FSL Monitor steps up premium investigation

19 August 2013

Victoria’s Fire Services Levy Monitor Allan Fels has begun checks on insurers’ premium pricing to ensure it reflects removal of the charge since July 1…

Broker jailed for sending premiums to online friend

12 August 2013

Former Melbourne broker Bruce Wickett has been sentenced to 18 months in jail for stealing more than $660,000 of clients’ premiums and sending the money overseas to someone he met online…

ASIC bans Perth broker Barr

05 August 2013

The Australian Securities and Investments Commission has permanently banned a Perth-based broker for misleading and deceptive conduct…

ICA dismisses call for protection levy

05 August 2013

The Insurance Council of Australia has rejected the suggestion that a new levy on bank deposits should be extended to insurance policies to increase consumer protection…

ASIC proposes new record-keeping rules

05 August 2013

The Australian Securities and Investments Commission is consulting on new record-keeping requirements for financial services licensees that provide advice to retail clients…

APRA to monitor reform progress

05 August 2013

The Australian Prudential Regulation Authority will assess how its recent reforms are tracking before introducing further changes…