NZ regulator unveils new leadership structure
19 September 2022
The Financial Markets Authority – Te Mana Tātai Hokohoko has restructured its executive leadership team as part of its program to transform the way it operates...
Regulatory & Government
icare launches assistive technology hub
19 September 2022
NSW state insurer icare has partnered with the Ingham Institute and South West Sydney Local Health District to form an AT Hub...
Three blind spots: industry faces up to compliance burden
12 September 2022
Law firm Clyde & Co has flagged three “common blind spots” for insurance industry managers as companies look to bed down a raft of new compliance requirements...
Treasury compensation scheme consultation opens, FAR legislation finalised
12 September 2022
Treasury has opened consultation over its exposure draft regulations for the planned compensation scheme of last resort, an industry-funded program to provide monetary redress for eligible unpaid Australian Financial Complaints Authority determinations...
APRA flags 'digital first' focus in prudential framework modernisation plan
12 September 2022
The Australian Prudential Regulation Authority is working on a “digital first” initiative as part of its approach to make the design of the regulatory framework “clearer, simpler and more adaptable” for insurers, banks and super funds...
Funeral grants scheme opens for Youpla policyholders
12 September 2022
The Federal Government has opened a funeral expenses grants program for First Nations policyholders hit by the Youpla collapse and is continuing to consider additional assistance...
'Joining the dots' needed to harness risk data: APRA
12 September 2022
The level of data available is often less of an issue in improving risk management than the ability to make connections from the volume of information, Australian Prudential Regulation Authority Chairman Wayne Byres says..
ASIC says pricing discount lapses reflect failure to 'put customer first'
05 September 2022
The corporate regulator has called out the industry over its failure to “put customers first” after a number of insurers did not deliver pricing promises...
Quality of Advice submissions deadline looms
05 September 2022
Submissions on the Quality of Advice review are due in less than three weeks as the inquiry continues its work by looking at whether the insurance exemption to the ban on conflicted remuneration remains justified...
Government moves to overturn litigation funder licensing
05 September 2022
The Federal Government has released draft regulations to reinstate a financial services licensing exemption for litigation funders...
WorkSafe Victoria stops $37 million workers' comp fraud
05 September 2022
WorkSafe Victoria says its investigations have stopped nearly $37 million of Victoria's workers’ compensation scheme funds from falling into the hands of fraudulent claimants in the past four years...
Proposed RBNZ inspections power sparks concerns
05 September 2022
The Reserve Bank of New Zealand says a proposal to extend its powers to carry out on-site inspections without notice as part of insurance supervisory reforms has sparked significant concern...
Quality of Advice review interim paper to propose overhaul
29 August 2022
The Quality of Advice review is expected to release an interim paper today that will propose regulatory reforms that aim to streamline requirements and reduce costs...
Cyclone pool reporting standards change finalised
29 August 2022
The Australian Prudential Regulation Authority has finalised changes to six reporting standards that incorporate a clarification that’s important for the operation of the cyclone reinsurance pool...
Treasury releases first tranche of draft laws cutting complexity
29 August 2022
Federal Treasury has released a first tranche of draft legislation aimed at improving financial services laws that have become mired in complexity...
Inaugural review of ASIC recommends improvements
29 August 2022
A review of the Australian Securities and Investments Commission by an authority formed in response to the Hayne royal commission has recommended the regulator improve its technological capabilities and quality of engagement...
NSW Building Commissioner reverses resignation
29 August 2022
David Chandler will continue as NSW Building Commissioner after he abruptly resigned from the position last month...
FMA lists new conduct regime, climate disclosure work as key focus
29 August 2022
New Zealand’s Financial Markets Authority has outlined its key priorities and intended work program for the current financial year in its annual corporate plan released last week...
RACQ member refunds estimated at around $200 million
22 August 2022
RACQ says it expects to refund $200-220 million to members following a review process and after self-reporting to the Australian Securities and Investments Commission...
Product laws key priority in ASIC corporate plan
22 August 2022
Reducing the risk of consumer harm through product design and distribution is one of the top priorities included in the Australian Securities and Investments Commission plan for the next four years...