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…
Regulatory & Government
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…
Tasmanian broker faces court
20 June 2006
A Tasmanian insurance broker has faced nine Australian Securities and Investments Commission charges in relation to dishonest conduct and failure to disclose fees and charges…
Broker out for life
20 June 2006
A Melbourne broker has received a lifetime ban from providing financial services after allegedly lodging a false loan application and creating false insurance invoices…
Commissions offside with Treasury
14 June 2006
The Federal Government says moving away from commission-based fee structures will have long-term benefits for consumers and the financial advice industry…
States cutting workers’ comp rates
06 June 2006
Victoria and NSW are cutting their workers’ compensation premiums, with NSW claiming a 15% cut in the past six months and Victoria announcing a 10% cut from July 1…
Former FAI man pleads guilty
06 June 2006
Former FAI General Insurance Financial Controller Tony Boulden has pleaded guilty to breaching the Corporations Law…
Insurers face global regulation
06 June 2006
Australian prudential regulation should be in line with international accounting standards by the end of the year, the industry watchdog says…
Victorian banned for life
06 June 2006
A Victorian financial adviser has been stripped of his licence after fraudulently obtaining loans for insurance premiums…
That’s it for conflict, says Cooper
30 May 2006
Regulation is often viewed as a four-letter word in the financial services industry, but the Australian Securities and Investments Commission has some good news…
ASIC still has teeth: Lucy
30 May 2006
ASIC has hit out at suggestions it is a toothless tiger that avoids going after the big fish of corporate Australia…
Two face trial over insurance allegations
30 May 2006
Two Victorian men who allegedly distributed builders’ warranty insurance for projects valued at more than $100 million have been committed to stand trial in the Victorian County Court…
Diligence doesn’t win Adler a reprieve
23 May 2006
Despite the improved behaviour of former HIH Insurance director Rodney Adler while behind bars, he has been unsuccessful in his appeal to have his jail sentence overturned…
APRA disqualifies HIH non-executive directors
23 May 2006
The Australian Prudential Regulation Authority has announced the disqualification of HIH directors Justin Gardener and Alexander Gorrie from being or acting as directors…
Brad Cooper comes clean
23 May 2006
HIH business associate Brad Cooper has applied to the NSW Supreme Court for leniency in his sentence after being found guilty of charges related to the collapse of the insurer…
APRA proposes revision on insurance reporting
23 May 2006
APRA has released updated draft reporting forms and instructions for regulated general insurers…
Regulators gain funding boost
16 May 2006
The Australian Securities and Investments Commission and the Australian Prudential Regulation Authority have received additional funding in the Federal Budget…
Sydney brokers on ASIC charges
16 May 2006
Former Sydney insurance brokers Paul and Richard Blundell of Blundell & Associates have been committed to face the District Court on 18 charges following an investigation…
APRA releases new standards
09 May 2006
The Australian Prudential Regulation Authority has released new governance standards for life and general insurance companies…
ASIC questionnaire granted extension
09 May 2006
The Australian Securities and Investments Commission is urging all investors in the Westpoint mezzanine project to complete an online questionnaire so investigations…