Lost $7 billion finding its owners
05 November 2002
More than $4.7 million worth of superannuation has been recovered since Assistant Treasurer Senator Helen Coonan launched the Unclaimed Super Recovery Initiative…
Regulatory & Government
ASIC updates its hawking rules
29 October 2002
ASIC has released an updated version of its guide to hawking prohibitions of the Corporations Act…
No more medical crises, says APRA
29 October 2002
APRA has greeted the Government’s decision to put the regulator in charge of medical indemnity insurance as a positive move…
APRA’s annual report gives positive review of regulation
29 October 2002
Australia’s prudential regulatory and supervisory framework is better and more strongly regulated than before, according to the APRA annual report for 2001/02…
Former OAMPS chief disqualified
29 October 2002
Kingsley Lamont, a former Executive Director and Chairman of OAMPS, has been disqualified by APRA from being a trustee in any superannuation entity or a responsible officer…
Ex-broker gets community service
29 October 2002
Former NSW insurance broker Graham Apolony has been sentenced to 300 hours’ community service after being convicted on charges brought by ASIC…
IBDF branches out
22 October 2002
ASIC has approved the registration of the brokers’ dispute facility as a recognised alternative dispute resolution scheme…
ASIC revises its elicensing system
15 October 2002
ASIC today released Version 2 of its eLicensing system and the Australian Financial Services Licensing Kit, as part of ASIC’s ongoing implementation…
Samuel tipped as next ACCC boss
15 October 2002
Melbourne businessman and National Competition Council chief Graeme Samuel will probably take over as ACCC Chairman in mid-2004, and already comparisons…
APRA calls for more insurance reforms
01 October 2002
APRA has made it very clear that there will be no more HIH collapses as long as it’s around…
ASIC finalises life policy illustration rates
01 October 2002
ASIC has made its final update to ISC Circular No G.I.2 which prescribes gross and net tax investment returns and inflation rates for policy illustrations between…
Financial reporting changes likely
24 September 2002
The Federal Government is considering giving ASIC sweeping new powers in a bid to lift the bar on financial reporting…
APRA announces scholarship program
24 September 2002
APRA and the Reserve Bank of Australia have established an annual scholarship program in memory of regulatory stalwart Brian Gray…
ASIC reaches 100 mark with disclosure
17 September 2002
ASIC has reached a milestone with 100 Product Disclosure Statement “in use” notices being lodged since the introduction of the FSRA in March…
ASIC brings in guide to increase acceptance of AFSL applications
03 September 2002
Looks like ASIC’s Australian Financial Services Licence applications might be a tad too complex for us mere mortals…
APRA plans for further insurance reform
27 August 2002
The continuing criticism of APRA in the wake of the HIH collapse has done little to reduce its enthusiasm for the job…
APRA brings in new rating index
27 August 2002
APRA has upgraded its internal rating system, the Probability And Impact Rating System, which it uses to assess the more than 3000 financial institutions that it regulates…
Tasmania gets new commissioner
27 August 2002
Julie Read, the Assistant Commonwealth Director of Public Prosecutions, has been appointed ASIC’s Tasmanian Regional Commissioner…
ASIC restrains adviser
27 August 2002
ASIC has obtained an injunction restraining John Michael Higgins, a director of Macquarie Town Financial Planning, from providing financial products or services advice…
Nick Whitlam fined and banned from boards
20 August 2002
Former NRMA Insurance Chairman Nick Whitlam has been banned from being a company director for five years and ordered to pay $20,000 for breaching his duties as a director…