No deals for FSR laggards, says ASIC
19 August 2003
Some disturbing facts for intermediaries who still haven’t decided on their FSR licensing strategy have been revealed by Ian Johnston…
Regulatory & Government
New guide aims at small businesses’ AFSL confusion
19 August 2003
ASIC has released an updated version of its compliance guide for small businesses in a bid to end confusion about new industry requirements…
ASIC looks at foreign insurers’ distribution
19 August 2003
APRA and ASIC are continuing to put pressure on unauthorised foreign insurers operating into the Australian market…
Former NTI chief goes to jail
19 August 2003
Former National Transport Insurance MD Trevor Smith has been sentenced to 18 months jail on 13 charges relating to his improper use of his position…
New ACCC chief warns insurers
19 August 2003
The ACCC will be looking for savings from the tort reforms being introduced around Australia, says new Chairman Graeme Samuel…
WA planner banned for three years
19 August 2003
ASIC has banned Perth financial planner Darren Horner from acting as a representative of a dealer or an investment adviser for three years
Former MD pleads guilty
12 August 2003
Former National Transport Insurance MD Trevor Smith, of the Gold Coast, pleaded guilty in the Southport District Court yesterday to 13 charges of dishonestly…
APRA launches data collection project
05 August 2003
Assistant Treasurer Helen Coonan’s demand for more detailed information on public and professional liability is being met, with APRA beginning consultation…
FSRA preparations: hurry up!
05 August 2003
ASIC isn’t sounding worried about the imminent deluge of FSR licence applications heading its way…
Guide explains officers’ responsibilities
29 July 2003
ASIC has released a new licensing guide for nominated responsible officers in a bid to end confusion about their role under the FSRA…
ASIC clears the way for mutual risk products
22 July 2003
Mutual risk products are to be classified as financial products under the Corporations Act, says ASIC…
Wollongong financial planner banned
22 July 2003
ASIC has banned former Wollongong financial planner Dennis Anthony from acting as a representative of a securities dealer or an investment adviser for three years…
HIH lawsuits closer, says McGrath
15 July 2003
HIH liquidator Tony McGrath has dropped plans to sue APRA for its part in the insurer’s collapse, but he’s preparing briefs against a range of other parties associated with…
Poor statistical returns for insurers
15 July 2003
APRA has given general insurers a rap across the knuckles over their quarterly data returns…
Performance ads restricted
08 July 2003
Companies contemplating using past financial performance figures to entice investors will have to make sure the information isn’t misleading, or they’ll be dealing with ASIC…
Computer error costs Tower $600,000
08 July 2003
As if a swag of unwelcome media attention over its parent company’s revenue-raising attempts wasn’t enough, Tower Australia has been ordered by the Federal Court…
New men take over at APRA
01 July 2003
Reserve Bank Assistant Governor John Laker has been appointed Chairman of APRA’s new executive committee as the Federal Government continues its purge of the regulator…
The APRA 90: still being considered
01 July 2003
With three former FAI employees now charged by ASIC with offences brought to light after the HIH collapse, the “APRA 90” remain unidentified…
ASIC releases new disclosure rules
01 July 2003
ASIC has decided that all financial advisers, including planners, brokers and life insurance sellers, will not only have to disclose the value of commissions but also job perks…
ASIC: planners generally on track
24 June 2003
Financial planners are in a good position in terms of AFS licensing because they only need a similar kind of licence to the one they had in the past, says Pauline Vamos…