ASIC throws down the gauntlet
17 October 2006
The Australian Securities and Investments Commission has stepped up its war against corporate misbehaviour, successfully prosecuting 85 company officers…
Regulatory & Government
Dishonesty costs
17 October 2006
A Melbourne broker is one of the latest to be caught up in the ASIC crackdown…
APRA paper absorbs industry criticism
10 October 2006
After evaluating industry feedback, the Australian Prudential Regulation Authority has refined its proposals on the prudential supervision of insurance groups…
APRA confirms strong industry
10 October 2006
Australia’s general insurance industry is enjoying a strong 2007, with $21.5 billion of premium written over the 12 months to June 30…
Tighter rules on insurance outsourcing
10 October 2006
APRA has issued new prudential standards on outsourcing for general insurers and life companies…
Another HIH officer in court
10 October 2006
Another senior HIH officer has pleaded guilty to charges relating to the insurance company’s $5 billion collapse…
HIH chairman in the dock
03 October 2006
Almost every former senior executive of HIH Insurance has faced court since 2001, and last week it was the turn of the collapsed insurance giant’s Chairman, Geoffrey Cohen…
ASIC prompts advertising changes by IAG
03 October 2006
IAG has come under fire for misleading consumers in advertising and policy documents related to comprehensive motor insurance…
Victorian guilty of dishonesty
03 October 2006
A Victorian former insurance agent and broker has pleaded guilty to two counts of dishonesty following an investigation by ASIC…
APRA aims to avoid duplication
26 September 2006
After extensive industry consultation, the Australian Prudential Regulation Authority has aligned its general insurance framework with the international financial…
HIH questions just keep coming
26 September 2006
It’s more than five years since the collapse of HIH, and the fallout from the crash is still being played out in courts around Sydney…
Melbourne broker banned
26 September 2006
ASIC has disqualified a Melbourne insurance broker from providing financial services for five years…
Industry OK with NZ regulation plans
19 September 2006
As reported two weeks ago by Sunrise Exchange News, the NZ Government has released a review of insurance sector regulation, and the peak industry body has given it…
ASIC clarifies regulation relief
19 September 2006
The Australian Securities and Investments Commission has updated its policy statement on reducing the regulatory burden on business…
Tassie broker in court
19 September 2006
A Tasmanian insurance broker has appeared in Launceston Magistrates Court on nine charges brought by ASIC related to his conduct as a broker from July 2001 until September 2004…
Australia moves to No 8 for reform
12 September 2006
Australia is leading the way when it comes to business regulation reform, according to Parliamentary Secretary to the Treasurer Chris Pearce…
HIH officer faces ASIC charges
12 September 2006
Former HIH Company Secretary Frederick Lo has appeared at the Downing Centre Local Court in Sydney on four charges relating to his work with HIH…
HIH officer reportedly sues the liquidator
12 September 2006
HIH liquidator Tony McGrath has confirmed that George Sturesteps, the former right-hand man to HIH founder and CEO Ray Williams, is suing him for more than $3 million…
Former broker barred
12 September 2006
ASIC has permanently barred former Insurance Advisernet Australia broker Rae Morley of Coonamble in NSW from providing financial services…
NZ regulators going for a gentle touch
05 September 2006
The NZ Government has just released its second document on the proposed regulation of the financial services industry – and the industry says at first glance the proposals…