Pearce vows to improve FSRA
15 February 2005
Intensive lobbying by associations like NIBA and other intermediary representatives are beginning to be heard in Canberra…
Regulatory & Government
HIH disqualification pile increases
15 February 2005
The Australian Prudential Regulation Authority (APRA) has disqualified another individual linked with the FAI/HIH saga, and indicated more disqualifications are on the way…
Jail possible for cartel crime
08 February 2005
The Federal Government plans to introduce criminal penalties for serious cartel conduct…
APRA prods insurers for info
08 February 2005
All is not going as it should for the Australian Prudential Regulation Authority as it tries to collect data for its new national claims and policies database…
Summer of conflict
01 February 2005
While most of the financial services sector was on summer leave some insurance industry people were working hard on submissions to the regulator, which is investigating broker practices…
Gen Re disqualification overturned
01 February 2005
The disqualification of a former Gen Re employee, London-based Milan Vukelic, has been overturned after he sought a review…
ASIC bars brokers
01 February 2005
Victorian broker Kang Cun Zhuang has been barred from providing financial services due to fraud and dishonesty convictions under his former name of Allan Soo…
Licence hopefuls failing the test
01 February 2005
ASIC has issued 363 financial services licences since March 11 last year when the FRSA came into being…
ASIC updates conflict of interest details
14 December 2004
The Australian Securities and Investments Commission has released updated licensing guides to ensure all Australian financial services licensees have adequate arrangements…
APRA bars former Gen Re staffer
14 December 2004
The prudential watchdog has barred another former General Re employee, London-based Milan Vukelic, for his alleged involvement in illegal reinsurance contracts…
UFI breaches found
07 December 2004
An ASIC review into the use of unauthorised foreign insurers has uncovered breaches of the law…
Dominion ends UFI arrangement
07 December 2004
Dominion Underwriting has ended its arrangement with Philippines-based UFI South Sea Surety, saying it will no longer act as the unauthorised foreign insurer's binder or in any other capacity…
SOA = simple, ordered advice
07 December 2004
ASIC has issued more guidance on statements of advice after complaints that they are too wordy and have few benefits for consumers…
Ex-broker jailed
07 December 2004
Former unlicensed NSW broker Marcus Anthony has been jailed for six months and fined $500 after pleading guilty to fraud and operating as an unlicensed broker…
Former agent barred
07 December 2004
ASIC has permanently barred South Australian insurance agent Dominic Romeo from providing any financial service…
APRA releases annual report
16 November 2004
The financial services sector seems to be humming along nicely, with the Australian Prudential Regulation Authority’s annual report showing the economy…
Rural & General boss disqualified
16 November 2004
The MD of Rural and General Insurance Broking has been disqualified under the “fit and proper” provisions of the Insurance Act…
Vic toughens up workplace safety
16 November 2004
Victorian WorkCover Minister Rob Hulls has unveiled a package of reforms aimed at reducing workplace deaths and injuries…
Nigerian letter scam puts planner in jail
09 November 2004
A former financial adviser has been sentenced to five years and three months in jail after falling for a Nigerian investment scam and taking his clients down with him…
APRA releases reporting standards
09 November 2004
APRA has released an overview paper that will assist APRA-regulated institutions…