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…
Regulatory & Government
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…
ASIC updates FSR kit
20 August 2002
ASIC continues to churn out FSR material, with the recent release of the new section 4 Addendum to the AFS Licensing Kit…
APRA hires quality expert
20 August 2002
Former Accenture quality expert Mr John Doble has been appointed as GM of APRA’s planned Quality Assurance and Consistency Unit…
APRA appoints new GM
13 August 2002
APRA has appointed Brandon Khoo to run its superannuation supervisory activities…
ASIC takes first step on PDSs
13 August 2002
The new reality of the FSRA for everyone set in last week when ASIC placed its first interim stop orders on product disclosure statements on two companies…
Financial adviser gets 6 years jail
13 August 2002
Former Tasmanian based insurance agent and financial adviser Joachim Prehn has been sentenced to six years’ jail, with a non-parole period of four years, after he was found guilty…
ASIC appoints new SA regional commissioner
30 July 2002
ASIC’s Tasmanian Regional Commissioner, Simon Dwyer, in transferring to Adelaide as the SA Regional Commissioner…
David Knott tells it like it is
23 July 2002
With all the controversy over a string of high-profile company collapses, ASIC Chairman David Knott couldn’t have picked a better time to lash out at the corporate cowboys…
DPP charges against Robert Porter dropped
23 July 2002
Former OAMPS MD Robert Porter has had charges against him withdrawn by the Commonwealth Director of Public Prosecutions…
APRA says premiums were too cheap
16 July 2002
APRA has come out in strong defence of the insurance industry, telling a Senate inquiry into the public liability crisis that consumers get “a free ride”…
AMP adviser awaits sentencing
16 July 2002
Former AMP financial adviser Lawrence Tobin will be sentenced later this week after pleading guilty to 23 charges laid by ASIC involving a fraudulent transaction…
Rural & General taken off the list
09 July 2002
APRA has denied Rural & General Insurance reauthorisation under the general insurance reforms…
Online broker has stop order lifted
09 July 2002
Perth-based online broker Insurance My Way Ltd is moving out of insurance now that it has been let off the hook by ASIC…
TPA amendments allow waivers
02 July 2002
The introduction of amendments to the Trade Practices Act by Assistant Treasurer Helen Coonan will mean that individuals will be able to waive their right to sue…
Change of scene for Jillian Segal
02 July 2002
ASIC Deputy Chair Jillian Segal has moved on to a new position as a member of the committee of inquiry into the competition provisions of the Trade Practices Act…
ASIC says you can complain
02 July 2002
ASIC has combined with the Consumer Advisory Commission to release a free guide for consumers on how to complain if they have a problem with a financial product…
Who can you turn to after July 1?
24 June 2002
Some insurers aren’t going to be around after June 30, according to APRA…
Former NTI Director faces ASIC charges
24 June 2002
Former National Transport Industries director Trevor Smith has been charged with 12 counts of knowingly and dishonestly making improper use of his position…
ASIC says no to PS146 extension
24 June 2002
ASIC will not extend the deadline for financial advisers who have until July 1 to comply with its key training document, Policy Statement 146…