Disclosure in dollars: how ASIC will do it
29 June 2004
Following the publication of revised disclosure regulations, the Australian Securities and Investments Commission is set to release more information on upcoming work…
Regulatory & Government
ASIC seeks liquidator for builders’ warranty businesses
29 June 2004
ASIC has commenced action in the Victorian Supreme Court to appoint a provisional liquidator to Homesafe Equities and Home and Renovators Group…
Back flip on CLERP 9 to see more revision
29 June 2004
While the CLERP 9 legislation was passed last week in Parliament, the Government has now decided to review more than 61 recommendations…
ASIC sets a spider to catch web scammers
29 June 2004
Scammers will have to watch their backs with the introduction of ASIC’s new web-based investigative tool Scamseek…
ASIC unveils revamped fee disclosure model
22 June 2004
ASIC has released a revised version of the good practice model for fee disclosure in the product disclosure statements of investment products…
Auditors’ paper needs feedback
22 June 2004
ASIC has called for feedback on a draft guidance paper dealing with company auditor changes under the CLERP 9 proposals, which include an obligation…
ASIC places permanent ban on NSW agent
22 June 2004
ASIC has permanently banned Clare Tracey, a former general insurance agent in the NSW town of Mudgee, from providing financial services…
Court acts on agency and insurer
16 June 2004
Triton Underwriting Insurance Agency has been banned from trading in Australia until it obtains a licence…
Former agent on 116 charges
16 June 2004
A former insurance agent has appeared in Melbourne Magistrates Court charged on 116 charges of deception and theft involving over more than $550,000 in policy fees…
ASIC appoints new NSW Regional Commissioner
16 June 2004
Jennifer O’Donnell has been appointed as ASIC’s NSW Regional Commissioner…
ASIC winds up island insurer
08 June 2004
An unauthorised foreign insurer ceased trading last week when ASIC obtained orders from the Federal Court to wind up its business…
Melbourne adviser banned
08 June 2004
ASIC has banned Melbourne financial adviser Lance Pitt from providing financial services for two years…
ACCC picks key men
01 June 2004
Australian Competition and Consumer Commission Chairman Graeme Samuel has bolstered the commission’s firepower with the appointment of two commissioners…
ASIC warns on minimum training standards
01 June 2004
ASIC has warned Australian financial services licensees to ensure that training they are giving their representatives complies with the rules…
Sydney adviser faces 21 charges
01 June 2004
A former director of Sydney-based Macquarie Towns Financial Services is facing 21 charges of dishonest misconduct…
Former SA broker sentenced
25 May 2004
Former AC Insurance Brokers Director Desmond Allomes has been given a suspended 27-month jail term on three charges of breaching the Insurance Act…
Lucy gets ASIC’s top job
18 May 2004
After months of indecision, the Government has finally given Jeffrey Lucy a three-year term as Chairman of the Australian Securities and Investments Commission…
Regulators win in the Budget
18 May 2004
The industry regulators were big winners in last week’s Federal Budget…
We don’t know it all, says APRA boss
18 May 2004
APRA Chairman John Laker wants submissions on the regulator’s proposed changes to corporate governance standards, admitting the body does not have all the answers…
Costello calls competition inquiry
11 May 2004
Treasurer Peter Costello has given the insurance industry a chance to again state its case against state monopolies by announcing a new inquiry into national competition policy…