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Regulatory & Government

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…

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…

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…

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…