FSRA may apply to real estate advice
11 October 2005
Advice provided by real estate agents may be regulated by the Financial Services Reform Act, according to an independent report commissioned by major accountants’ body CPA Australia…
Regulatory & Government
APRA unveils changes to life company rules
04 October 2005
APRA has released a discussion paper dealing with changes to life company financial statements and contract classification…
Mixed reactions to tough directors reforms
04 October 2005
Proposals to expand directors’ duties below board level as a result of the HIH Royal Commission recommendations have received mixed reactions from business groups…
APRA wants opinions on statistics
04 October 2005
Do you have an opinion on the sort of information the Australian Prudential Regulation Authority should include in its upcoming publication on general insurance industry statistics…?
APRA disqualifies another HIH exec
27 September 2005
The Australian Prudential Regulation Authority has disqualified another former HIH senior executive, taking the number of people disqualified to 27
ASIC reminds motorists as director fined for contempt
27 September 2005
The Australian Securities and Investments Commission has reminded motorists insured with Liban Net to check their policies after the Federal Court of Australia found company director…
Axa boss fights APRA disqualification
20 September 2005
Axa’s Asia-Pacific boss Andy Penn – long regarded as the successor to CEO Les Owen – has vowed to fight a decision by APRA to disqualify him from running a superannuation fund…
APRA dumps No 26
20 September 2005
Former HIH senior executive Greg Brown has been disqualified from being or acting as a director or senior manager of a general insurer by APRA…
FSR refinements on track, says ASIC
13 September 2005
ASIC is “100% on schedule” to deliver the eight financial services regulation refinement projects the Government gave it back in May…
ASIC releases example SOA
06 September 2005
The days of overlong, legalistic and unreadable statements of advice are numbered…
APRA releases IFRS paper
06 September 2005
The Australian Prudential Regulation Authority has released the second of two discussion papers setting out its proposed response to the adoption of…
Stronger ties for trans-Tasman regulators
30 August 2005
ASIC and the New Zealand Securities Commission met in Sydney last week for their third time to thrash out ways to achieve better regulatory co-operation…
GIO Insurance directors breached duty
30 August 2005
The NSW Supreme Court has convicted three former directors of GIO Insurance for breaching their duties during the course of AMP’s 1998/99 takeover bid for GIO Australia…
Cooper hears case against him
30 August 2005
After weeks of delays, the case against former entrepreneur Brad Cooper and his involvement in the collapse of HIH finally began in the NSW Supreme Court last week…
Laker warns about offshoring
30 August 2005
The prudential regulator has warned insurers to seek its permission before they enter into offshore arrangements…
Reports confirm rates dip
16 August 2005
As Assistant Treasurer Mal Brough noted on Thursday, both APRA and the ACCC have released reports which show the insurance industry is doing its bit to get liability insurance rates…
Exec group slams APRA standards
16 August 2005
Smaller companies struggling with high compliance costs will lose out if APRA’s proposed governance standards get the green light, according to Australia’s peak body…
ASIC kicks off refinements work
09 August 2005
The Australian Securities and Investments Commission has taken the first step in implementing the Federal Government’s refinements to the financial services regulations…
General Re staff drop appeals
09 August 2005
Four former General Re employees have dropped appeals against their disqualification from working in the industry because of their dealings with FAI Insurance…
Former ASIC director goes banking
09 August 2005
Pauline Vamos, one of the key regulatory figures who worked with the insurance industry to get Australian financial services licensees signed on ahead of the implementation…