Diligence doesn’t win Adler a reprieve
23 May 2006
Despite the improved behaviour of former HIH Insurance director Rodney Adler while behind bars, he has been unsuccessful in his appeal to have his jail sentence overturned…
Regulatory & Government
APRA disqualifies HIH non-executive directors
23 May 2006
The Australian Prudential Regulation Authority has announced the disqualification of HIH directors Justin Gardener and Alexander Gorrie from being or acting as directors…
Brad Cooper comes clean
23 May 2006
HIH business associate Brad Cooper has applied to the NSW Supreme Court for leniency in his sentence after being found guilty of charges related to the collapse of the insurer…
APRA proposes revision on insurance reporting
23 May 2006
APRA has released updated draft reporting forms and instructions for regulated general insurers…
Regulators gain funding boost
16 May 2006
The Australian Securities and Investments Commission and the Australian Prudential Regulation Authority have received additional funding in the Federal Budget…
Sydney brokers on ASIC charges
16 May 2006
Former Sydney insurance brokers Paul and Richard Blundell of Blundell & Associates have been committed to face the District Court on 18 charges following an investigation…
APRA releases new standards
09 May 2006
The Australian Prudential Regulation Authority has released new governance standards for life and general insurance companies…
ASIC questionnaire granted extension
09 May 2006
The Australian Securities and Investments Commission is urging all investors in the Westpoint mezzanine project to complete an online questionnaire so investigations…
Regulation costs: how much is too much?
02 May 2006
Large insurers are paying up to $60 million a year to comply with regulatory measures imposed by the financial services watchdogs, according to the Insurance Council of Australia…
Regulator gets more regulation
02 May 2006
Who would have thought it? The prudential regulator itself is facing more stringent regulation with the passing of new legislation effective from July next year…
Regulation not enough: Clitheroe
02 May 2006
Financial media personality and Financial Literacy Foundation Chairman Paul Clitheroe says regulation alone isn’t enough to prevent another large-scale corporate collapse…
iPlus under ASIC watch
02 May 2006
The financial services watchdog has taken Federal Court action in Perth against iPlus Risk Management and its directors Michael Andersen and John Pizzey to prevent them from…
ASIC speculation runs rife
26 April 2006
A newspaper report suggesting ASIC Chairman Jeffrey Lucy will step down before the end of his three-year contract has caused some speculation this week…
Yep: APRA thinks Treasury is wrong
11 April 2006
It’s confirmed – APRA thinks the Federal Treasury’s plan to regulate direct offshore foreign insurers and discretionary mutual funds is unworkable…
For ASIC use only
11 April 2006
Be careful what goes in your shop window…
Another HIH disqualification
11 April 2006
APRA has barred Paul Abela from being a director or senior manager for a general insurer in Australia because of his connection to the HIH Insurance collapse in 2001…
Former broker guilty of fraud
11 April 2006
A former director of Queensland-based insurance broker Allstate Insurance has been convicted on 14 counts of fraud and sentenced to 18 months’ jail, to be suspended for two years…
More regulation to come
04 April 2006
Despite refinements to the Financial Services Reform Act last year, Parliamentary Secretary to the Treasurer Chris Pearce says more regulation is coming…
APRA under international microscope
28 March 2006
The Australian Prudential Regulation Authority is being investigated – in a friendly way – by the International Monetary Fund and the World Bank under their…
Outsourcing paper up for discussion
28 March 2006
APRA has issued a discussion paper on managing risks from outsourcing. It has also released draft prudential standards and a prudential practice guide on outsourcing…