FPA in call to slash red tape
20 November 2007
The Financial Planning Association has called for a reduction in red tape and the creation of a simplified advice category to open up access to financial advice to more consumers…
Regulatory & Government
Suspended sentence for building fraudster
20 November 2007
A fraudulent Melbourne insurance provider has escaped jail for operating a financial services company without a licence and abetting dishonest conduct…
More headaches for Adler
13 November 2007
Disgraced former HIH director and head of FAI Insurance Rodney Adler could face further legal action in relation to the collapse of HIH Insurance in 2001…
Fodera gets three years
13 November 2007
Former HIH director Dominic Fodera has been sentenced to three years and four months in jail for his part in the company's collapse in 2001…
PI warning as ASIC launches Westpoint lawsuit
13 November 2007
ASIC's decision to launch legal action against individuals and companies involved in the Westpoint collapse could have wide-ranging implications for PI insurers…
Brokers call for DOFI exemption overhaul
06 November 2007
Insurance brokers are urging several changes to the Federal Government's three-pronged exemption system for foreign insurers…
Charges end in jail for planners
06 November 2007
Investigations by the Australian Securities and Investments Commission have led to the successful prosecution of financial advisers in Victoria and Queensland…
ASIC continues Westpoint cull
06 November 2007
A Sydney adviser is the latest financial planner to receive a ban as a result of the Westpoint collapse…
Fake insurer faces jail
30 October 2007
The man behind a Victorian company that fraudulently insured $100 million of building projects faces five years in jail after pleading guilty to charges…
Leisure operators warned on safety
30 October 2007
Victoria's recreational industry has been warned it must uphold basic safety standards after a County Court found a chairlift company guilty of negligence…
ASIC training regime under fire
23 October 2007
ASIC's enforcement of its education and training standards for financial providers has come under fire from ANZIIF…
Supervisors spread the word
23 October 2007
Insurance industry regulators around the world are expanding their influence by educating their peers in emerging markets…
ASIC highlights ‘bad apple’ brokers
16 October 2007
The Australian Securities and Investments Commission is cracking down on renegade brokers and financial advisers switching jobs despite dubious employment records…
Musical chairs at ASIC as Lucy takes another post
09 October 2007
Jeffrey Lucy has resigned as an ASIC commissioner after only five months to return to the Financial Reporting Council for a three-year part-time post as Chairman…
Online breach reporting mooted
09 October 2007
Prudentially regulated institutions will have their breach reporting obligations streamlined under proposals by the Australian Prudential Regulation Authority…
Fodera guilty on another ASIC charge
02 October 2007
Jailed former HIH CFO Dominic Fodera faces up to five more years' imprisonment after pleading guilty to a charge brought by the Australian Securities and Investments Commission…
Barred broker to stand trial
02 October 2007
A Victorian insurance broker appeared before the Melbourne Magistrates Court last week on theft and deception charges…
Mutuals to begin APRA reporting
02 October 2007
Insurance-like groups known as discretionary mutual funds will file annual reports for the Australian Prudential Regulation Authority by late next year…
Australians get it right on corporate governance
02 October 2007
Australian companies are finding the cost of adapting "best practice" corporate governance standards to be relatively low…
Brokers to self-regulate under DOFI exemptions
25 September 2007
The Federal Government has listened to advice and amended regulations for offshore insurers, announcing wide-ranging exemptions that allow brokers a free hand to self-regulate…