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…
Regulatory & Government
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…
New compliance role to give ASIC more muscle
02 August 2005
The Australian Securities and Investments Commission has appointed Carole Ferguson to the position of Director, Institutional and Wholesale Compliance…
ASIC hunts for HIH evidence
02 August 2005
ASIC has applied in the NSW Supreme Court to allow the former auditor of FAI Insurance, Martyn Scrivens, to give video evidence from London about the collapse of HIH…
APRA disqualifies Fodera
02 August 2005
The Australian Prudential Regulation Authority has disqualified former HIH COO Dominic Fodera from acting as a director or senior manager of a general insurer…
ASIC warns on Liban Net car insurance
02 August 2005
ASIC has urged anyone who bought car insurance through Liban Net or Australian Private Insurance to “reinsure” their vehicles through an authorised insurer…
Trio faces ASIC charges
02 August 2005
ASIC has charged three men who offered builders’ warranty insurance in Victoria between June 2003 and February last year…
APRA revokes HIH disqualification
26 July 2005
The Australian Prudential Regulation Authority (APRA) has revoked its disqualification of former HIH executive Ross Eade following an internal review…
Canberra gives the industry a pat on the back
19 July 2005
The insurance industry has always had its supporters and critics in Canberra, but Federal Assistant Treasurer Mal Brough is one politician who doesn’t mind giving the industry…
Insurance broker charged with dishonesty
19 July 2005
ASIC has brought seven charges against a Victorian insurance broker over alleged dishonest practices…
Share dealer prompts ASIC warning
12 July 2005
His moves around the IAG share register were enough to get the giant insurers hot under the collar…
ASIC restrains Liban car insurance providers
12 July 2005
ASIC has obtained orders in the Federal Court in Sydney restraining Sydenham-based Liban Net from selling, or offering to sell, insurance products…
Breaches still breaches, but no penalty
05 July 2005
ASIC has reminded industry players they must report significant breaches of their obligations under the FSRA, even if some of these obligations…
ASIC’s scorecard
05 July 2005
The corporate regulator rarely lets an opportunity to demonstrate its powers go astray…
Real estate agents may come under FSR
05 July 2005
Real estate agents dealing in investment property may be the next industry sector to undergo a regulatory overhaul, if the Federal Government adopts the suggestions of a report…
ASIC releases five-year strategy
28 June 2005
ASIC last week released its five-year plan up until the 2010…
Broker investigation… it’s still coming
21 June 2005
ASIC’s investigation into Australian brokers’ remuneration practices may be more than 10 weeks late, but it will be released sometime in the next month, according to the regulator…
ASIC enters agreement with Pakistan
21 June 2005
ASIC and Pakistan’s financial services regulator the Securities and Exchange Commission of Pakistan have entered a Memorandum of Understanding in a bid to forge…
Abbott charges dismissed
15 June 2005
Criminal charges brought by ASIC against HIH former Deputy Chairman Charles Abbott were dismissed last week…
Adler evidence just not enough
07 June 2005
Suggestions jailed FAI chief Rodney Adler agreed to a “plea bargain” to reduce his sentence got short shrift from ASIC in Federal Parliament last week…