APRA bans former FAI executive
04 May 2009
APRA has disqualified former FAI senior executive Ashraf Kamha for his role in producing fraudulent company accounts...
Regulatory & Government
New credit regime takes a hard line
04 May 2009
The Federal Government has released its draft National Consumer Credit Protection Bill to “modernise” Australia’s financial services sector...
New PI limit too high, say brokers
27 April 2009
Brokers aren’t happy about a looming increase in the claims limit being imposed by the Financial Ombudsman Service as it takes on the role formerly undertaken...
ASIC unable to prevent Storm collapse
27 April 2009
The collapse of Queensland investment firm Storm Financial could not have been prevented by ASIC...
Community groups fail in bid for liability reform
27 April 2009
Community and arts groups have failed in their bid to obtain public liability insurance subsidies or exemptions following the Australia 2020 Summit last year...
HIH collaborator cops lifetime ban from UK regulator
20 April 2009
The UK financial regulator has won a long drawn-out case against a former reinsurance executive whose sham transactions helped an HIH Insurance subsidiary hide massive losses...
Unlicensed adviser sentenced
20 April 2009
NSW financial adviser Keith Rowntree has been disqualified from managing corporations for five years and will undertake 80 hours of community service after being convicted...
… as more advisers face court
20 April 2009
Five former directors have appeared before Australian courts accused with dealing in financial products, including Westpoint promissory notes, without a licence...
Australian corporates fail test of auditor independence
20 April 2009
Many Australian listed companies are neglecting basic governance standards by failing to establish independent internal audit standards, a new survey has found...
Ombudsman submissions close today
20 April 2009
Submissions on the Financial Ombudsman Service proposed new terms of reference close today...
Federal funds for disaster mitigation
20 April 2009
Australian states and territories will receive $18.6 million in natural disaster mitigation funding from the Federal Government this year...
Insurance director pleads guilty to fraud
06 April 2009
Victorian director Timothy John McKenzie is likely to go to jail this week after pleading guilty to five charges of deception and theft of insurance payments...
Bushfire hearing applications close on April 9
06 April 2009
People interested in appearing before the 2009 Victorian Bushfires Royal Commission must lodge an application by Thursday...
Investment downturn bites into December life profits
06 April 2009
Australian life insurers’ stories of increasing sales in a looming recession may be true, but nothing will hide the fact that the collapse of investment markets last year hurt them badly...
APRA figures reveal stabilising liability lines
30 March 2009
APRA has released the latest annual report on policies and claims for public and product liability from the National Claims and Policies Database...
US climate change decision earns plaudits
30 March 2009
Expanded US standards for reporting climate change risks are being applauded in Australia...
Big stamp duty refund depends on appeal outcome
30 March 2009
Insurance buyers seeking a big stamp duty refund on policies placed with foreign insurers must await a court appeal decision before their applications can proceed...
APRA figures show claims expense bite
23 March 2009
Higher claims expenses were the major reason Australia’s general insurers made a $1.1 billion underwriting loss last calendar year, according to a new report...
Golden handshakes come under the microscope
23 March 2009
Insurance executives are among those who will have their termination benefits capped to be equivalent to their annual base salary under new company legislation announced...
New building standards to improve resilience to bushfire
16 March 2009
The Victorian Government has introduced tough new building standards to help save lives and property in the wake of the devastating Black Saturday bushfires...