Successor speculation does the rounds
08 March 2005
With the announcement last week that Executive Director of Financial Services Regulation Ian Johnston is to quit ASIC, the hunt is on in earnest for his replacement…
Regulatory & Government
Two more rubbed out over HIH
08 March 2005
APRA has disqualified former HIH Deputy Chairman Charles Abbott from being or acting as a director or senior manager of a general insurer…
Berkshire Hathaway embroiled in HIH case
08 March 2005
US billionaire and business guru Warren Buffett’s company Berkshire Hathaway may be accused of playing a part in the collapse of HIH…
Cooper will fight charges
08 March 2005
Sydney businessman Brad Cooper has pleaded not guilty to 13 charges when he appeared in Sydney’s Supreme Court on Friday…
ASIC releases code checklist
01 March 2005
Just months ahead of the launch of the new General Insurance Code of Practice – the latest estimate says it’ll be June – ASIC has released a new policy statement…
Captives off the hook
01 March 2005
Australian companies with captive general insurance subsidiaries will be exempt from prudential regulation under a new Australian Prudential Regulation Authority proposal…
Trans-Tasman industry a step closer
22 February 2005
Australia and New Zealand have agreed to establish a trans-Tasman council for the banking sector, with a similar move for the insurance industry not far off…
APRA’s tough stance nothing new
22 February 2005
Reports by mainstream media that the Australian Prudential Regulation Authority is no longer a “toothless tiger” because of its dealings with those involved with the HIH collapse…
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…
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…