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”…
Regulatory & Government
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…
APRA sets the line for life insurers
24 June 2002
APRA has confirmed that life insurers will have to maintain minimum capital requirements of $10 million…
APRA warns super trustees
11 June 2002
Superannuation trustees who haven’t lodged their annual returns yet had better watch out…
ASIC clarifies some AFS aspects
11 June 2002
The following will be of interest to those studying the ins and outs of AFS licences…
ACCC to deal with insurance crisis
04 June 2002
Insurers who thought they might be getting somewhere in the public liability PR stakes were brought to a halt by the decision to give the ACCC open access to the industry’s books…
Super fund case draws a triple response
28 May 2002
ASIC, APRA and the Australian Taxation Office have obtained permanent injunctions against Timothy Barritt, Kelvin Mills and Carolyn Mills, who traded under the business name “Super Release”…
QBE agrees to agree
21 May 2002
ASIC has forced QBE Insurance to honour travel insurance policies that cover the costs of Ansett tickets cancelled after the airline collapsed last year…
Extra ASIC funding welcomed
21 May 2002
The Federal Government has promised ASIC additional funding in the next four years…
APRA slams door on taxi clubs
21 May 2002
Eleven Victorian “taxi clubs” have been served notice by APRA for illegally offering local taxi owners and drivers comprehensive insurance for their taxis…
ASIC won’t license Melbourne brokerage
29 April 2002
Well-known Melbourne broker Jeffrey McNally last week found himself bound by Federal Court orders not to sell policies on behalf of unauthorised foreign insurer Atlantic & Pacific…
ACCC educates on what it knows best
29 April 2002
The Australian Competition and Consumer Commission will hold a conference in July 25-26 to check out regulatory trends…