Insurer capital requirements change
03 July 2007
APRA has released proposed changes to capital requirements for authorised deposit-taking institutions and general insurers in line with international standards…
Regulatory & Government
Levy rates fall
03 July 2007
Insurers and other financial institutions have been given some breathing space on APRA levy rates, with cuts across the board being announced by the Federal Government…
Pearce passes red tape reform
26 June 2007
The Federal Government has passed a raft of measures it says will ease industry concerns over the complexity of reporting standards and red tape in financial services…
Vines found fit and proper
26 June 2007
Former GIO CFO Geoffrey Vines has been reinstated as a “fit and proper person” by the NSW Court of Appeal – but he’s also been ordered pay a pecuniary penalty of $50,000…
APRA reports on bumper insurance stats
26 June 2007
The Australian insurance industry has performed well for the year ended March 31, with net premium revenue at $21.5 billion, up 2.2% on the previous 12 months…
Insurance broker to stand trial
26 June 2007
Victorian insurance broker Anthony Ryan has been committed in the Melbourne Magistrates Court to stand trial on seven dishonesty charges…
APRA disqualifies QC
19 June 2007
Yet another high-profile victim of the HIH collapse felt the lash of the prudential regulator last week…
Insurers get added relief
19 June 2007
ASIC has announced an extension of transitional relief for general insurers and actuaries until August 31 from the original June 20 deadline…
Guilty plea over builders’ warranty
19 June 2007
Victorian-based builders’ warranty insurance provider Dennis Gentry has pleaded guilty in the Melbourne Magistrates Court to four charges following an investigation…
NSW broker to stand trial
19 June 2007
Former NSW insurance broker Scot Weston has been committed to stand trial in Sydney’s District Court on 10 charges of dishonest conduct and deception…
Jail time for Fodera
13 June 2007
The list of imprisoned former HIH executives has increased to nine with the jailing of former CFO Dominic Fodera for three years…
ASIC offers online help for complaints
13 June 2007
Complaining to the Australian Securities and Investments Commission about a financial services business has just become easier…
Adler makes a point from the inside
13 June 2007
Former HIH director Rodney Adler has taken offence to a news report last week concerning Dominic Fodera receiving a prison sentence…
ASIC Chairman vows further crackdown
05 June 2007
Incoming ASIC Chairman Tony D’Aloisio has no plans to ease up on the tough prosecutions of corporate wrongdoers, saying the HIH prosecutions show the directions the regulator…
Former broker brothers plead guilty
05 June 2007
Brothers Paul and Richard Blundell, former directors of Sydney-based brokerage Blundell & Associates, have pleaded guilty in the District Court to charges brought by ASIC…
Government keen to simplify regulation
29 May 2007
The Federal Government has introduced the Simpler Regulatory System package to Parliament in a bid to have it passed during the winter session so it can take effect…
Skills set for ASIC review
29 May 2007
Financial adviser training courses for insurance brokers may be overhauled following an ASIC review…
Disqualification powers upheld
29 May 2007
Two constitutional challenges to the power of corporate regulators to bar directors and suspend liquidators have been quashed…
ASIC releases PDS update
29 May 2007
ASIC has released technical updates to three policy statements, a guidance paper and several class orders relating to financial services providers…
Government acts without acting
22 May 2007
The Federal Government says regulation on financial services licensees being required to have professional indemnity insurance is expected by July 1…