APRA to update capital levels
18 September 2007
An updated supervisory review process will ensure insurers have ample funds to meet their liabilities, APRA says…
Regulatory & Government
Disputes board merger gets ASIC nod
11 September 2007
Merging the financial sector's largest disputes boards into one super-service should improve dispute resolution and efficiency, ASIC Chairman Tony D'Aloisio says…
APRA tightens regulatory noose
11 September 2007
Tighter reporting arrangements for non-authorised insurers are being mooted by APRA to improve capital adequacy reporting in the industry…
APRA disqualifies reinsurer executive
04 September 2007
The Australian Prudential Regulation Authority’s investigation into the reinsurance implications of the 2001 HIH collapse has claimed another scalp with the disqualification of Paul Williams…
APRA research push under new leader
04 September 2007
APRA has appointed Katrina Ellis as its new head of research under plans to broaden the scope of its applied research team…
ASIC spells out Westpoint case
28 August 2007
The Australian Securities and Investments Commission is continuing to investigate the collapse of the Westpoint property group…
Final Zurich executive barred
21 August 2007
Former Zurich Australia CEO Murray Jones has been disqualified from running an insurance company, following a three-year investigation…
Banned insurer remains licensed broker
21 August 2007
On August 7 we described Aaron Stephenson as a former insurance broker…
Trowbridge explains APRA’s role
14 August 2007
The placing of all prudentially regulated industry segments under APRA has resulted in a regulatory model that Executive Member John Trowbridge describes as…
Ex-broker withdraws APRA appeal
07 August 2007
A three-year battle to clear his name has ended with former insurance broker Aaron Stephenson withdrawing his appeal against disqualification by APRA…
ASIC seeks opinions on training…
07 August 2007
The regulations governing training of financial product advisers are under the microscope, as ASIC awaits feedback on a consultation paper released last week…
… while APRA works on Basel II
07 August 2007
APRA is also hoping to prompt some discussion, this time in the insurance and risk management industries…
APRA bars Gen Re officer for second time
31 July 2007
Former London-based Gen Re executive Milan Vukelic has been barred by APRA from directing or managing an insurance company in Australia following a three-year investigation…
Long-tail claimants could be creditors: report
24 July 2007
Future injury claims against companies could be classified under the same legal framework as creditors under a proposal being considered by the Federal Government…
ASIC seeks comment on PI changes
24 July 2007
Holders of financial services licences required to have professional indemnity insurance are being invited to give feedback on the new regulatory regime…
Ex-broker gets 18 months
17 July 2007
Former Sydney broker Paul Blundell will serve at least nine months in jail following his sentencing on Friday on charges of fraudulently omitting to account for money…
Warranty fraud sentenced
17 July 2007
A former Melbourne insurance broker has been given an 18-month community-based order for providing false building warranty insurance certificates to Victorian builders…
ASIC streamlines regulation guides
10 July 2007
The Australian Securities and Investments Commission is ditching its guides and policy statements…
FAI duo charged with dishonesty
03 July 2007
Former FAI General Insurance executives Daniel Wilkie and Ashraf Kamha have been committed to stand trial on criminal charges of acting dishonestly…
APRA probes Gen Re Australia
03 July 2007
The Australian Prudential Regulation Authority says the Australian subsidiary of Gen Re, General Reinsurance Australia, engaged in “questionable behaviour” in the late 1990s…