eLicensing is here . . . nearly
12 February 2002
ASIC has officially launched its “eLicensing” system as part of the implementation of the FSR Act…
Regulatory & Government
Unregistered broker fined
12 February 2002
A 43-year-old unregistered broker was fined $2000 when he pleaded guilty in Melbourne to 15 charges of misleading conduct related to the establishment of insurance contracts…
ASIC packs a licensing kit
05 February 2002
ASIC’s Financial Services Reform Act preparations appear to be in full swing after the recent release of their Financial Services Licensing Kit and the eLicensing design model…
Perth broker gets stay on non-registration
05 February 2002
The Administrative Appeals Tribunal has granted a conditional stay to an ASIC decision not to renew the registration of AP Investments (WA) Ltd – trading as APAC Finance and Insurance…
Partial victory for loss adjusters
23 October 2001
New FSR Act regulations related to claims-handling and settlement provide a licensing exemption that will go some way to easing the concerns of loss adjusters…
Loan allegation leads to suspension
23 October 2001
ASIC has suspended Perth-based brokerage Savill Hicks for one year after alleging the company illegally invested $200,000 from its broking account…
Cybercrime law passes
16 October 2001
The Cybercrime Act was one of a raft of legislation to receive assent on October 1…
ASIC steps in over super funds
16 October 2001
Liquidators have been appointed to four companies that allegedly misused their superannuation funds…
Movement on reform
09 October 2001
Right on the edge of calling an election, Financial Services and Regulation Minister Joe Hockey has managed to get the last revised draft Financial Services Reform Act regulations out of Treasury…
New FSR regulation removes anomaly
02 October 2001
Draft regulations issued by ASIC last week have laid to rest concerns by loss adjusters and other industry service-providers that they would be caught up in the financial services reforms…
Global regulation drawing closer
02 October 2001
More countries are beginning to look seriously at the push for global uniformity in financial services regulation…
Businesses unprepared for new privacy laws
02 October 2001
Only 19% of Australian businesses have started preparing for the changes to the privacy legislation, according to a report commissioned by the Federal Privacy Commissioner…
Tax Law passed
02 October 2001
The Tax Law Amendment Bill has now been passed in both houses of parliament with the only barrier being the wait on royal assent…
Mixed response to new super rules
02 October 2001
The Federal Government plan’s to introduce tough rules for superannuation funds has received a mixed response from the super industry…
ASIC releases new policy paper
25 September 2001
ASIC has released its tenth policy proposal paper linked to the Financial Services Reform Act…
Queensland ups workers’ comp rate
25 September 2001
Queensland has doubled its basic WorkCover premiums from $60 to $120…
A bad year for NZ’s compo system
25 September 2001
New Zealand’s Accident Compensation Corporation, nationalised last year after less than a year in private sector hands, has lost $313 million from premiums of $1.9 billion…
Revised timetable for FSR publications
18 September 2001
The new financial services reform regulations will be finalised by the Federal Treasury in the next few weeks…
Whitlam faces ASIC charges
11 September 2001
ASIC has commenced civil proceedings against former NRMA Insurance CEO Nicholas Whitlam, alleging he breached his duties as a director when he was chairman of the company…
Former broker gets three years
11 September 2001
John Andrew Hurlock, a former director of Queensland company Trojan Insurance Brokers, was sentenced last week to three years jail after pleading guilty to 12 charges…