Gen Re report goes to APRA
14 November 2006
A report on General Reinsurance Australia has been given to APRA after an 18-month investigation…
Regulatory & Government
Rotation under the microscope
14 November 2006
The Australian Securities and Investments Commission is warning audit firms to ensure their rotation schedules are in order…
Advice firm barred
14 November 2006
A South Australian financial advice business will be re-reading the rules on statements of advice after losing its financial services licence last week…
Builders’ warranty provider guilty
14 November 2006
A former Melbourne-based builders' warranty provider will be sentenced on Friday after pleading guilty to carrying on a financial services business without the necessary licence…
ASIC flexes its muscles
07 November 2006
ASIC has wrapped up enforcement proceedings against a record 352 people or companies this year and also managed several high-profile investigations, including HIH Insurance…
Former Zurich CFO disqualified
07 November 2006
The Australian Prudential Regulation Authority has disqualified former Zurich Australian Insurance CFO John Stanbridge from being or acting as a director or senior manager…
Builders' warranty provider pleads guilty
07 November 2006
Former Melbourne-based builders' warranty provider James Scott has pleaded guilty in the County Court to carrying on a financial services business without holding…
Anti-money laundering bill enters Parliament
07 November 2006
After a long period of consultation and review, the Federal Government has introduced its Anti-Money Laundering and Counter-Terrorism Funding (AML-CTF) Bill into Parliament…
HIH’s Kelly gets 500 hours
07 November 2006
Former HIH Insurance Assistant Secretary Robert Kelly has escaped a jail sentence – one of the few executives to be given a community service penalty over his role in the collapse…
Insurance reps urged to identify licensees
31 October 2006
The Australian Securities and Investments Commission says authorised representatives selling insurance must identify their Australian financial services licensees in business documents…
Hold on to your staff, APRA told
31 October 2006
The Australian Prudential Regulation Authority could do a better job in retaining its staff, according to the International Monetary Fund…
Insurance implications in trade practices reform
24 October 2006
After a long wait, reforms to the Trade Practices Act have been passed by the Senate…
ASIC to enforce US law too
24 October 2006
The investment watchdog may soon be inspecting local companies on behalf of US regulators…
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…
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…