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Regulatory & Government

New ASIC guide to make online delivery easier

28 February 2011

The Australian Securities and Investments Commission has released a regulatory guide on financial information that can be provided online following concerns about the difficulty of proving…

NT builders want insurance scheme details

28 February 2011

Builders in the NT will meet Lands and Planning Minister Gerry McCarthy next week to discuss concerns over the territory’s draft residential builders’ insurance legislation…

New dispute resolution process to cut red tape

21 February 2011

The Australian Securities and Investments Commission is issuing new regulatory guidance on dispute resolution procedures, which could reduce paperwork for insurers and brokers who resolve…

New ACT CTP bill ‘to reduce premiums’

21 February 2011

The ACT Government says changes to its new compulsory third party legislation will “reduce third party insurance premiums” and lead to cheaper car registration in the territory…

Shorten lays down reforms

14 February 2011

Assistant Treasurer Bill Shorten has outlined his action plan for clarifying insurance policies and dealing with flood cover…

Directors’ liability reform stalls

14 February 2011

Reform to the myriad state and territory directors’ liability laws is behind schedule, less than 15 months after the governments agreed to audit their statute books…

Deadline looms for TPD deductions

14 February 2011

Superannuation fund trustees have until June 30 to ensure tax deductions for trauma and permanent disability insurance remiums meet new Federal Government rules…

Shorten warns insurers over consumer law

07 February 2011

Assistant Treasurer Bill Shorten has put insurers “on notice” that community and parliamentary forces are pushing for universal legal protections for all consumers…

ASIC seals deal for investors

07 February 2011

The Australian Securities and Investments Commission has brokered a final settlement deal against failed property group Westpoint and its auditors, KPMG…

Flood: APRA wants to know impact

31 January 2011

The Australian Prudential Regulation Authority expects insurers to include the impact of events like the Queensland floods in their quarterly and annual regulatory reports…

ASIC appeals over Hardie appeal

31 January 2011

The Australian Securities and Investments Commission has applied to the High Court for special leave following a NSW Supreme Court decision in December to overturn the banning…

ACC survives but with more competition

31 January 2011

A New Zealand Government steering group report into the Accident Compensation Corporation has recommended private insurers should be allowed to offer compulsory accident…

APRA seeks prudential feedback

31 January 2011

Modifications to prudential rules will align and consolidate a raft of industry-specific standards, according to the Australian Prudential Regulation Authority…

Bogus broker gets life

31 January 2011

The Australian Securities and Investments Commission has handed a lifetime ban on convicted NSW fraudster John Anthony Ovens ever having an Australian financial services licence…

PI requirements set for tax agents

31 January 2011

The Tax Practitioners Board has defined which tax and business activity statement agents will be required to have professional indemnity cover from July this year…

2010 was a good year for general insurers

13 December 2010

The 2010 financial year has been good for general insurers, with premium earnings up and losses down, according to the Australian Prudential Regulation Authority’s half-years statistics…