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Regulatory & Government

Permanent bans for embezzlement

15 August 2006

ASIC has permanently barred a NSW insurance broker from providing financial services for misappropriating client funds…

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…

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…

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…