ASIC minimises SOA paperwork
27 July 2004
ASIC has provided further guidance on how it expects licensees and their representatives to prepare Statements of Advice that are clear, concise and effective…
Regulatory & Government
Audit notifications under Clerp 9
27 July 2004
ASIC has put in place procedures to deal with the new notification requirements for registered company auditors, audit firms or audit companies…
Liquidator named for builders’ insurance providers
27 July 2004
ASIC has obtained orders in the Victorian Supreme Court appointing Gess Rambaldi as provisional liquidator to Homesafe Equities and Home and Renovators Group…
Minister concedes the FSRA is flawed
20 July 2004
It’s taken Parliamentary Secretary to the Treasurer Ross Cameron nine months to work out what any financial services professional could have told him for nothing…
Ryan shuts down his fine idea
20 July 2004
Ryan Law, the 22-year-old marketing student who set up a “club” to insure members against parking fines and speeding fines, has shut down his company after discussions with ASIC…
Brokers get some relief on client monies
13 July 2004
The Australian Securities and Investments Commission has introduced interim class order relief allowing brokers to pay money they have received from clients…
New deputy head for ASIC
13 July 2004
Former Blake Dawson Waldron partner Jeremy Cooper is the new Deputy Chairman of ASIC…
Five-year ban for former Melbourne adviser
13 July 2004
ASIC has banned former Melbourne adviser Barry “Bud” Walder from providing financial services as a representative of an AFS licensee for five years…
APRA sets benchmarks for data collection
06 July 2004
APRA has developed reporting standards under the Financial Sector Act 2001 that establish the framework for the National Claims and Policies Database…
ASIC clarifies CLERP 9
06 July 2004
Proving CLERP 9 is going to be a nasty law to deal with, the Australian Securities and Investments Commission has issued two policy statements and two practice notes…
ASIC brings former agent’s business to a halt
06 July 2004
ASIC has obtained interim orders in the Federal Court at Adelaide against former insurance agent Domenic Romeo, of Fullarton in South Australia…
Disclosure in dollars: how ASIC will do it
29 June 2004
Following the publication of revised disclosure regulations, the Australian Securities and Investments Commission is set to release more information on upcoming work…
ASIC seeks liquidator for builders’ warranty businesses
29 June 2004
ASIC has commenced action in the Victorian Supreme Court to appoint a provisional liquidator to Homesafe Equities and Home and Renovators Group…
Back flip on CLERP 9 to see more revision
29 June 2004
While the CLERP 9 legislation was passed last week in Parliament, the Government has now decided to review more than 61 recommendations…
ASIC sets a spider to catch web scammers
29 June 2004
Scammers will have to watch their backs with the introduction of ASIC’s new web-based investigative tool Scamseek…
ASIC unveils revamped fee disclosure model
22 June 2004
ASIC has released a revised version of the good practice model for fee disclosure in the product disclosure statements of investment products…
Auditors’ paper needs feedback
22 June 2004
ASIC has called for feedback on a draft guidance paper dealing with company auditor changes under the CLERP 9 proposals, which include an obligation…
ASIC places permanent ban on NSW agent
22 June 2004
ASIC has permanently banned Clare Tracey, a former general insurance agent in the NSW town of Mudgee, from providing financial services…
Court acts on agency and insurer
16 June 2004
Triton Underwriting Insurance Agency has been banned from trading in Australia until it obtains a licence…
Former agent on 116 charges
16 June 2004
A former insurance agent has appeared in Melbourne Magistrates Court charged on 116 charges of deception and theft involving over more than $550,000 in policy fees…