Permanent bans for embezzlement
15 August 2006
ASIC has permanently barred a NSW insurance broker from providing financial services for misappropriating client funds…
Regulatory & Government
ASIC looks to enforceable undertakings
08 August 2006
The Australian Securities and Investments Commission is planning more “real time” regulation of the financial services industry rather than always opting for the lengthy…
Penalties imposed on GIO trio
08 August 2006
Three former GIO Insurance directors have been barred from management roles for up to 12 years and have also been fined by the NSW Supreme Court for their involvement in…
NRMA may contest Whitlam decision
08 August 2006
NSW roads and motoring organisation NRMA has been ordered to assist former President Nick Whitlam by paying his legal costs from his defamation action against the Nine Network…
Fodera on trial
01 August 2006
HIH CFO Dominic Fodera has been committed in a Sydney court to stand trial on a criminal charge of authorising the issue of a prospectus from which there was a material omission…
Insurance broker charged
01 August 2006
NSW insurance broker Scot Weston has appeared before the Wollongong Local Court on 11 charges of dishonest conduct and obtaining a benefit by deception…
Judge forces ASIC to disclose
25 July 2006
The Australian Securities and Investments Commission has been ordered by a Federal Court judge to tell former Zurich Asia Pacific CFO Warwick Churche about information…
Foreign executive banned for five years
25 July 2006
APRA has demonstrated the length of its regulatory reach by joining with the British Financial Services Authority to bar an insurance executive based in Ireland…
Ex-exec considers action against regulator
18 July 2006
Sydney media reports suggesting the Australian Prudential Regulation Authority is considering criminal charges against Zurich Australia ended up with retractions this morning…
Dexta co-founder due to face court
11 July 2006
Former Dexta Corporation MD and co-founder Ashraf Kamha and his old FAI Insurance colleague Daniel Wilkie – the company’s COO – are due to face court next month…
ASIC guide to detail role
11 July 2006
In case you didn’t know… ASIC has stepped up its commitment to better regulation initiatives by launching a guide to how the regulator works…
Cooper cools off at Cooma
11 July 2006
Brad Cooper has been shifted from Sydney to a southern NSW prison to serve out the remainder of his eight-year sentence for 13 crimes…
Assistant HIH secretary pleads guilty
11 July 2006
Another key executive is facing jail time over the collapse of HIH…
New charter to benefit ASIC and industry
04 July 2006
The financial services watchdog is looking to improve the way it regulates the businesses under its purview…
Turnbull sued over HIH
27 June 2006
He knew there was always a chance, but now he has the paper to prove it…
Trowbridge joins APRA
27 June 2006
Federal Treasurer Peter Costello has announced the appointment of industry veteran John Trowbridge to the three-member executive of the Australian Prudential Regulation Authority…
Another delay for compensation arrangements
27 June 2006
ASIC has delayed the introduction of laws that would compensate investors affected by an HIH or Westpoint-style collapse, saying the Federal Government…
Deceptive agent banned for life
27 June 2006
A Victorian insurance agent is facing a lifetime ban from providing financial services after ASIC found he acted dishonestly and deceptively…
ASIC issues eight-year ban
27 June 2006
A Sydney-based company director who sold insurance has been banned from managing corporations for eight years under action brought to the Federal Court by ASIC…
Anti-money laundering consultation postponed
20 June 2006
The second period for consultation on the draft anti-money laundering reform package – expected to begin in May – has been delayed a few weeks…