SA tightens rules on engineered stone processing
14 August 2023
The SA government has announced new regulations banning the uncontrolled processing of engineered stone products from the start of September...
Regulatory & Government
ASIC launches greenwashing action against super fund
14 August 2023
The Australian Securities and Investments Commission has commenced civil penalty proceedings in the Federal Court against Active Super...
Fraudster forced to repay compensation after false claim
14 August 2023
A forklift operator will be required to pay back $48,367 after he was found to have been working as a food delivery driver despite being declared injured and receiving workers’ compensation payments...
ASIC extends transitional relief for foreign financial services providers
14 August 2023
The Australian Securities and Investments Commission has extended for a further 12 months transitional relief for foreign financial services providers from the requirement to hold a licence when providing services to wholesale clients here...
ASIC issues warning on misconduct
07 August 2023
The Australian Securities and Investments Commission will take more action against financial sector misconduct in the coming months after its enforcement activities led to civil penalties of $109.1 million in the first half of the year...
Remuneration disclosure set to ‘shine light’: APRA
07 August 2023
The Australian Prudential Regulation Authority says remuneration disclosure obligations aimed at increasing transparency and preventing misbehaviour at financial firms will start from next year, with more flexibility on timeframes included following consultations...
NZ Government announces costs share agreement on buybacks
07 August 2023
The New Zealand Government has announced an agreement with local councils of the cyclone-affected region of Hawke’s Bay to help share the costs of buying out nearby properties that face unmitigable future risks.
Insurers allowed to use cat bonds for reinsurance needs, APRA says
07 August 2023
General insurers are permitted to use catastrophe bonds and other types of insurance-linked securities for their reinsurance needs, the Australian Prudential Regulation Authority says in a reminder letter to the industry...
WorkSafe unveils fraudulent claims data
07 August 2023
WorkSafe says it has “weeded out a new crop of compensation fraudsters” as it reveals it cracked down on 37 fraudulent claims worth a combined projected cost of $20.64 million in the last financial year...
FAR ‘devilishly hard to implement’
31 July 2023
Clyde & Co has described the incoming Financial Accountability Regime as “easy to understand in theory but difficult to implement”...
Canberra extends PI waiver for midwives
31 July 2023
The Federal Government has extended a professional indemnity insurance exemption for midwives in private practice so that they can continue offering homebirth services...
Government to require reversing technology in new vehicles
31 July 2023
The Federal Government will mandate reversing technologies in all new vehicle models from November 1, 2025...
NZ regulator starts licensing preparations for new conduct regime
31 July 2023
New Zealand regulator the Financial Markets Authority has started preparing for the commencement in 2025 of a new conduct regime that will apply to licensed insurers, banks and non-bank deposit takers...
Governments agree to regional NSW flood grants
31 July 2023
The NSW and Federal governments have announced a jointly funded $9.1 million initiative to support the recovery of flood-affected communities...
WA establishes Climate Adaptation Strategy
31 July 2023
The WA Government has announced its inaugural Climate Adaptation Strategy, outlining a series of commitments to environmental adaptation programs...
Victoria expands accommodation scheme for flood-affected residents
31 July 2023
The Victorian Government has announced that it will expand its “Homes at Home” program to support recovery aid for flood-affected residents in Campaspe and Mitchell Shires and Greater Shepparton area...
ACCC delays Suncorp acquisition decision again
24 July 2023
The competition regulator has again delayed its decision on whether to give a $4.9 billion sale of Suncorp Bank to ANZ the go ahead, until August...
Industry faces more stop orders as ASIC steps up DDO surveillance
24 July 2023
The Australian Securities and Investments Commission has stepped up its surveillance of industry compliance with design and distribution obligations laws after an initial review of target market determinations found worrying practices...
Regulators seek ‘early engagement’ on FAR draft rules
24 July 2023
Draft rules for governing the proposed Financial Accountability Regime scheme, a Hayne royal commission recommendation, have been released for consultation...
New Zealanders offered rent help when insurance dries up
24 July 2023
New Zealanders displaced by extreme weather that struck the North Island in May will receive an interim payment when their insurance payments for temporary accommodation run out...