IOSCO urges worldwide rules for ratings agencies
22 September 2008
The peak international body for securities commissions has called for consistent international standards in the regulation of credit ratings agencies...
Regulatory & Government
Australia seals deal with EU on emergency management
22 September 2008
A new agreement between Australia and the European Union will see the two countries work more closely on emergency management challenges following completion of…
Funders win anti-money laundering battle
15 September 2008
Premium funders appear to have won their battle to keep the most onerous aspects of the Anti-Money Laundering and Counter-Terrorism Financing Act away from general insurance...
Raise dispute payout cap, says ASIC
15 September 2008
The Australian Securities and Investments Commission wants to raise the “cap” on compensation that can be awarded by an external dispute resolution scheme to $280,000...
HIH tax counsel wins APRA ban appeal
15 September 2008
Former HIH Group Tax Counsel Paul Abela has won his appeal against an Australian Prudential Regulation Authority ban preventing him from holding a senior insurance role...
ASIC still pursuing James Hardie after dropping criminal case
08 September 2008
The Australian Securities and Investments Commission will begin civil proceedings against manufacturer James Hardie in the NSW Supreme Court this month...
Expert joins terror reinsurance pool
08 September 2008
Well-known insurance regulator Tom Karp has joined the board of the Australian Reinsurance Pool Corporation for a three-year term...
ASIC signs mutual recognition agreement with US regulator
01 September 2008
The Australian and US governments have paved the way for easy access to each other’s financial systems in an historic move by the US...
Compensation boost for oil spill victims
01 September 2008
The Federal Parliament has passed legislation strengthening the compensation regime that applies when oil spills occur within Australian waters – quadrupling the maximum…
ASIC bans father and son adviser team
01 September 2008
ASIC has banned a former Melbourne adviser and his son from providing financial services for six years and three years respectively...
NSW commits to review fire services levy
25 August 2008
The NSW Government has committed to a further review of the fire services levy after the state economic regulator recommended the impost be abolished...
ASIC overhaul ‘good for insurance industry’
25 August 2008
An overhaul of ASIC is good news for the insurance industry, according to a senior industry source...
Federal tax review calls for submissions
25 August 2008
The taxation review being conducted by Federal Treasury Secretary Ken Henry has invited public submissions on Australia’s future tax system in order to draft a consultation paper…
$50,000 Westpoint fine too lenient, says ASIC
25 August 2008
ASIC is considering appealing after former Westpoint promoter Neil Burnard escaped a prison sentence on Friday...
Rudd pledges to work with financial companies
25 August 2008
Prime Minister Kevin Rudd wants to work with financial services companies like Axa Asia Pacific to help them access foreign markets...
Bowen credits industry progress on flood
18 August 2008
Assistant Treasurer Chris Bowen has credited the insurance industry with moving the issue of flood cover forward and praised individual insurers for working to improve standards…
Super crook banned
18 August 2008
Former Sydney broker George Nikiforidis has been permanently banned from providing financial services...
ASIC bans another Westpoint adviser
18 August 2008
ASIC has banned Neville Pradeepkumar Emerson from providing financial services for seven years – its 16th ban on licensed advisers involved with failed WA investment…
Treasury identifies insurance tax flaws ahead of federal review
11 August 2008
Industry fears that the Federal Government’s tax review won’t extend to insurance tax reform were allayed last week after a Treasury discussion paper drew a link between insurance taxes…
APRA: investment income offsets surge in claims
11 August 2008
Healthy investment returns helped general insurers offset a 21% surge in claims last year, the Australian Prudential Regulation Authority’s half-yearly report reveals...