Stronger ties for trans-Tasman regulators
30 August 2005
ASIC and the New Zealand Securities Commission met in Sydney last week for their third time to thrash out ways to achieve better regulatory co-operation…
Regulatory & Government
GIO Insurance directors breached duty
30 August 2005
The NSW Supreme Court has convicted three former directors of GIO Insurance for breaching their duties during the course of AMP’s 1998/99 takeover bid for GIO Australia…
Cooper hears case against him
30 August 2005
After weeks of delays, the case against former entrepreneur Brad Cooper and his involvement in the collapse of HIH finally began in the NSW Supreme Court last week…
Laker warns about offshoring
30 August 2005
The prudential regulator has warned insurers to seek its permission before they enter into offshore arrangements…
Reports confirm rates dip
16 August 2005
As Assistant Treasurer Mal Brough noted on Thursday, both APRA and the ACCC have released reports which show the insurance industry is doing its bit to get liability insurance rates…
Exec group slams APRA standards
16 August 2005
Smaller companies struggling with high compliance costs will lose out if APRA’s proposed governance standards get the green light, according to Australia’s peak body…
ASIC kicks off refinements work
09 August 2005
The Australian Securities and Investments Commission has taken the first step in implementing the Federal Government’s refinements to the financial services regulations…
General Re staff drop appeals
09 August 2005
Four former General Re employees have dropped appeals against their disqualification from working in the industry because of their dealings with FAI Insurance…
Former ASIC director goes banking
09 August 2005
Pauline Vamos, one of the key regulatory figures who worked with the insurance industry to get Australian financial services licensees signed on ahead of the implementation…
New compliance role to give ASIC more muscle
02 August 2005
The Australian Securities and Investments Commission has appointed Carole Ferguson to the position of Director, Institutional and Wholesale Compliance…
ASIC hunts for HIH evidence
02 August 2005
ASIC has applied in the NSW Supreme Court to allow the former auditor of FAI Insurance, Martyn Scrivens, to give video evidence from London about the collapse of HIH…
APRA disqualifies Fodera
02 August 2005
The Australian Prudential Regulation Authority has disqualified former HIH COO Dominic Fodera from acting as a director or senior manager of a general insurer…
ASIC warns on Liban Net car insurance
02 August 2005
ASIC has urged anyone who bought car insurance through Liban Net or Australian Private Insurance to “reinsure” their vehicles through an authorised insurer…
Trio faces ASIC charges
02 August 2005
ASIC has charged three men who offered builders’ warranty insurance in Victoria between June 2003 and February last year…
APRA revokes HIH disqualification
26 July 2005
The Australian Prudential Regulation Authority (APRA) has revoked its disqualification of former HIH executive Ross Eade following an internal review…
Canberra gives the industry a pat on the back
19 July 2005
The insurance industry has always had its supporters and critics in Canberra, but Federal Assistant Treasurer Mal Brough is one politician who doesn’t mind giving the industry…
Insurance broker charged with dishonesty
19 July 2005
ASIC has brought seven charges against a Victorian insurance broker over alleged dishonest practices…
Share dealer prompts ASIC warning
12 July 2005
His moves around the IAG share register were enough to get the giant insurers hot under the collar…
ASIC restrains Liban car insurance providers
12 July 2005
ASIC has obtained orders in the Federal Court in Sydney restraining Sydenham-based Liban Net from selling, or offering to sell, insurance products…
Breaches still breaches, but no penalty
05 July 2005
ASIC has reminded industry players they must report significant breaches of their obligations under the FSRA, even if some of these obligations…