More needed from government to drive financial services
11 August 2008
The financial services sector wants more action from the Federal Government to entrench Australia as a financial services hub, allowing local players to compete with overseas…
Regulatory & Government
PI questionnaire isn’t compulsory
04 August 2008
An ASIC questionnaire on professional indemnity insurance is not compulsory for Australian financial services licensees...
ASIC accepts enforceable undertaking from former HIH auditor
04 August 2008
A former auditor of HIH Insurance was last week banned from the profession until March 2010 following an enforceable undertaking agreed with ASIC...
Financial services top of government agenda
04 August 2008
The Federal Government is creating a new team to promote Australia – specifically Sydney – as a financial services hub...
FAI accountant gets suspended sentence
28 July 2008
Former FAI General Insurance accountant Ashraf Kamha received a suspended six-month prison sentence in the NSW Supreme Court on Friday for his part in producing fraudulent company accounts...
HIH deputy chairman beats APRA ban
28 July 2008
Former HIH Deputy Chairman Charles Abbott has won an appeal against an APRA ban preventing him acting as a director or senior executive of an insurance company...
Workers’ compensation explained
28 July 2008
The Australian Safety and Compensation Council has completed an unenviable task and managed to explain the complex world of workers’ compensation...
Melbourne broker jailed
21 July 2008
A Melbourne broker convicted of stealing almost $120,000 from clients was last week jailed for six months...
Possible overhaul for Victoria’s workplace laws
21 July 2008
Victoria is considering whether to ditch its workplace compensation laws...
Peter Kell named ACCC Deputy Chair
14 July 2008
With a sometimes prickly relationship evident between the insurance industry and the Australian Competition and Consumer Commission, the appointment on Friday of Choice CEO...
Westpoint war continues for ASIC
14 July 2008
ASIC has commenced new proceedings against Westpoint founder Norm Carey after an initial ruling against the regulator opened the door for a fresh bid...
APRA announces 2008 scholarships
14 July 2008
APRA has awarded two $12,500 student scholarships under the Brian Gray Scholarship Program...
Insurers hit by higher regulator levies
07 July 2008
Insurers are set to pay more to fund regulators’ activities following a hike in the financial sector levy that sees the Australian Prudential Regulation Authority increase its overall take…
Broker pleads guilty to ASIC fraud charges
07 July 2008
A Victorian broker has pleaded guilty to four fraud-related charges brought by the corporate regulator...
APRA releases draft internal model standards
07 July 2008
APRA has set out draft prudential requirements for the use of the internal model-based method in the calculation of insurers’ minimum capital requirements...
APRA finalises prudential framework changes
30 June 2008
The Australian Prudential Regulation Authority has finalised refinements to the general insurance prudential framework...
ASIC loses Westpoint battle, but the war continues
30 June 2008
Westpoint founder Norm Carey has won his case against the Australian Securities and Investments Commission...
ASIC granted two more commissioners
30 June 2008
ASIC will appoint two additional commissioners to cope with its expanded role, bringing the number of commissioners to five...
Liquidators face new PI requirements
30 June 2008
Liquidators will need to obtain professional indemnity and fidelity insurance under legislation coming into effect next Tuesday...
Five more years for APRA chair and deputy
30 June 2008
There’s a familiar look to the head table at APRA following the reappointment of Chairman John Laker and Deputy Chairman Ross Jones...