ASIC scrutinises small brokers
03 April 2001
Small brokers are in the spotlight as ASIC mounts another campaign to review their compliance…
Regulatory & Government
APRA’S new rules: a bit late for some
03 April 2001
It might be a bit too late for professionals working through the HIH saga, but APRA has released its latest proposals to reform and modernise prudential regulation of…
Friendly move forces changes to life act
03 April 2001
Friendly societies are being brought into line with other members of the life insurance industry in a more forthright manner than had been expected…
NSW rejects the privatisation option
03 April 2001
The NSW workers’ comp system might be in disarray and piling up a deficit at more than $1 million a day, but the chances of it falling into private insurers’ hands are now…
FSRB scheduled for next week
27 March 2001
The Financial Services Reform Bill is on track to be introduced into Federal Parliament next week…
Uncertainty over Health/Safety Act
27 March 2001
The New South Wales Occupational Health and Safety Act 2000 will be enacted next month, with Experts still uncertain what impact it will have…
Calls to broker facility rise
27 March 2001
The Insurance Brokers Dispute Facility’s toll-free number received 52% more calls last year – a total of 3,388 – compared with its first year of operation in 1996…
TWU fund sues its insurer
27 March 2001
The Transport Workers Union Superannuation Fund is taking legal action against its former insurer, Colonial, after losing a legal scuffle with ASIC…
Tax battle continues
27 March 2001
The Insurance Council is continuing to press for the removal of the Fire Services levy and stamp duty on insurance policies, with one small opportunity opening in Victoria…
NRMA disclosure examined
20 March 2001
ASIC is investigating “certain issues of market disclosure and governance” by NRMA Insurance Group and NRMA Limited…
Still no FSRB
13 March 2001
The FSRB didn’t make it through Parliament last week. As we reported last week, the timeline for the legislation is getting uncomfortably tight…
ASIC commissioner stays on
06 March 2001
Karen Axford is staying on as ASIC’s South Australian Regional Commissioner…
Super laws checked for competitiveness
27 February 2001
The Productivity Commission has begun a review of legislation related to the superannuation industry…
FSRB moves - still plenty of uncertainty
20 February 2001
As we reported last week, the Financial Services Reform Bill will probably make it into Parliament next month…
WA Election unlocks legislation
20 February 2001
The major impediment to the FSR legislation – opposition to Corporations Law changes by “states’ rights” advocates led by former WA Premier Richard Court…
Flood insurance taskforce near
20 February 2001
Insurers are working with Financial Services & Regulation Minister Joe Hockey to set up a taskforce to develop solutions to the problems surrounding flood insurance…
Super guide to the GST
20 February 2001
A guide to the GST for the superannuation industry has been published by the Australian Taxation Office – seven months after the GST was introduced…
New enforcer
13 February 2001
Peter Wood, the head of Victoria’s Office of Public Prosecutions, has been appointed ASIC’s new National Director Enforcement…
New fee arrangements
06 February 2001
Differential fee arrangements for managed investment schemes have been introduced by ASIC…
Promoting better standards
06 February 2001
The International Association of Insurance Regulators wound up its meeting under the auspices of the OECD in Kuala Lumpur late last month with a vow to increase the…