APRA scuttles its reinsurance plan
07 April 2008
The Australian Prudential Regulation Authority has backed away from controversial plans to change reinsurance recoverables and investment capital factors...
Regulatory & Government
ASIC proposes online disclosure
07 April 2008
ASIC is seeking feedback on plans to “ease the burden of disclosure” on the financial services industry by using the internet...
Sherry details regulatory power grab
07 April 2008
The Federal Government has reiterated its commitment to a takeover of financial services regulation for mortgage and investment loans from the states and territories...
Australia unlikely to follow UK commission disclosure push
31 March 2008
Mandatory commission disclosure being considered by the UK’s Financial Services Authority is unlikely to be followed by Australian regulators...
Be reasonable, regulators told
31 March 2008
The insurance industry will see few changes from a Federal Government Administrative Review Council report expected to tell regulators at all levels to take a more balanced approach…
Financial services exempt from new consumer law
31 March 2008
Draft legislation enforcing the “total price” of goods and services announced this morning by Competition Policy & Consumer Affairs Ministers Chris Bowen don’t affect…
NSW postpones tax review
17 March 2008
NSW Premier Morris Iemma has approved the Independent Pricing and Regulatory Tribunal’s request for an extension to its review of NSW state taxation, which includes…
IAG calls for flood pool
17 March 2008
IAG has called for the establishment of a flood compensation pool to combat the rising cost of climate change...
… as ICA recommends public-private climate partnership
17 March 2008
ICA has also called for the industry, governments, businesses and individuals to work together in adapting to environmental change...
New online breach reporting system for APRA and ASIC
17 March 2008
The Australian Securities and Investments Commission and the Australian Prudential Regulation Authority have released a new online breach reporting system…
More tax hikes on insurance in Vic and NSW
10 March 2008
Further rises in the fire services levy in Victoria and NSW have triggered a broadside from NIBA...
Calls to slash compo premiums follow VWA megaprofit
10 March 2008
Employers in Victoria have called for cuts to workers’ compensation premiums after the Victorian WorkCover Authority posted a record $577 million half-year insurance profit...
Actuaries want flexibility on carbon trading
10 March 2008
A “set and forget” policy stance will not be adequate to deal with the many uncertainties affecting the supply and demand for “carbon permits” in the future…
ASIC funding safe after Labor backtrack
03 March 2008
The Australian Securities and Investments Commission's (ASIC) enforcement resources were assured last week as the Federal Government backed down from a commitment to trim the regulator's budget.
Liquidators asked for opinions on PI
03 March 2008
ASIC has released a consultation paper on insurance requirements for liquidators, seeking feedback on its proposals about new insurance requirements for registered liquidators.Liquidators asked for opinions on PI
Tanner to ease red tape burden
03 March 2008
The Federal Government has confirmed plans to cut red tape to reduce the cost of regulation to business.
Insurers consider home warranty pledge
25 February 2008
Insurers say they are prepared to pay claims to NSW homeowners left out of pocket by dodgy builders…
HIH legal web grows ever more tangled
25 February 2008
HIH liquidator Tony McGrath's $529 million civil damages case over HIH's acquisition of FAI Insurance is in danger of drowning under a sea of claims, counter-claims…
Bowen commits to withholding tax reform
25 February 2008
Assistant Treasurer Chris Bowen has flagged lowering Australia's rate of withholding tax as part of the continuing drive to promote Australia as a financial services centre…
DOFI premium test ‘under consideration’
18 February 2008
The Federal Government is considering introducing a "premium test" into the exemptions to the DOFI bill, but the exact limit remains under discussion…