NZ to beef up financial sector standards
26 October 2009
Solid academic qualifications and formal industry certification form the basis of proposed minimum standards for financial advisers in NZ…
Regulatory & Government
ACT likely to follow NSW on stamp duty refunds
26 October 2009
The ACT is set to follow NSW in paying clients entitled to a stamp duty refund following a July ruling of the NSW Court of Appeal…
Australia signs insurance co-operation deal
26 October 2009
Australia has entered a formal agreement to exchange information and co-operate with other insurance supervisors around the world…
Spatial information to be released to public
26 October 2009
The Federal Government has given the go-ahead for the use of government-held spatial information…
Review chief slams insurance taxes
19 October 2009
Federal Government tax review chairman Ken Henry has slammed insurance stamp duty and the fire services levy as “bad taxes”…
Terrorism insurance scheme stays in place
19 October 2009
The Federal Government will remain the key figure in Australian terrorism insurance for three more years, following a Federal Treasury review of the Terrorism Insurance Act 2003…
Australia signs up for oil spill insurance
19 October 2009
Australia has joined an international fund providing insurance to pay for coastal spills by oil tankers…
Compliance chief calls for mandatory advisers
19 October 2009
Australasian Compliance Institute President Annette Donselaar says leading organisations should be forced to appoint compliance professionals in the wake of the global downturn…
Broker reporting proposals hit a nerve
12 October 2009
New data collection and reporting requirements for general insurance intermediaries proposed by Federal Treasury have met with strong industry opposition…
ASIC launches appeal over XQZT case
12 October 2009
Who is XQZT? And why has his or her name and every other detail of his or her case been suppressed by the Administrative Appeals Tribunal after he or she was banned in July…
ASIC head to chair international regulatory body
12 October 2009
Australian Securities and Investments Commission Chairman Tony D’Aloisio has been invited to chair major international regulatory body the Joint Forum…
ASIC relies on insurance in Westpoint case
12 October 2009
The corporate regulator will rely on professional indemnity cover to help recoup up to $14 million in Westpoint losses from liquidated WA firm Brighton Hall Securities…
ASIC charges former Westpoint CFO
12 October 2009
Former Westpoint Group Chief Financial Controller Graeme Rundle appeared in a Sydney local court last week to face criminal charges brought by the Australian Securities…
Competitive barriers stifling financial services
12 October 2009
Government-imposed competitive barriers that stop financial services companies from competing on a level playing field need to be removed…
Downturn brings pricing message from regulator
05 October 2009
Lower interest rates require higher premiums – that’s the pricing implication for general insurers in the wake of the economic downturn, according to the prudential regulator…
NIBA slams Victorian insurance taxes
05 October 2009
The National Insurance Brokers Association has slammed the Victorian Government over its “extreme” level of insurance taxes in a submission to a state parliamentary committee…
Lawyers eye boost in professional indemnity options
05 October 2009
Exposure to the open marketplace is definitely not on the agenda for a Law Council of Australia committee seeking greater freedom of choice in compulsory professional indemnity cover…
ASIC blocks life dealer’s telemarketing tactics
05 October 2009
The Australian Securities and Investments Commission has accused direct life insurance marketer Aegon Direct Marketing Services Australia of making telephone sales…
Stakeholders give APRA high marks for integrity
28 September 2009
The Australian Prudential Regulation Authority’s first stakeholder survey reveals general satisfaction with the regulator, despite some concern over compliance costs…
ASIC outlines broker best practice
28 September 2009
Put it in writing. That’s the message to brokers from the Australian Securities and Investments Commission…