ASIC seeks regtech help in tackling poor disclosure
31 January 2022
The Australian Securities and Investments Commission is examining the use of regulatory technology to help uncover poor market disclosure by listed companies...
Regulatory & Government
Competition lawyer appointed as ACCC Chair
31 January 2022
Law firm Gilbert + Tobin Senior Partner Gina Cass-Gottlieb will start her five-year term as Australian Competition and Consumer Commission Chair on March 21...
Powerline action cuts Victorian bushfire risk
31 January 2022
A Victorian powerline safety program introduced after the 2009 Black Saturday bushfires has cut risks across the state by 44%, a progress report has found...
Former Suncorp executive appointed to ARPC board
31 January 2022
The Australian Reinsurance Pool Corporation says the Federal Government has appointed former Suncorp Bank CEO David Foster to its board...
WA state insurer announces new commissioners
31 January 2022
The Insurance Commission of Western Australia has named three new commissioners to its board and appointed Commissioner Rob Bransby as Deputy Chairman...
Mitigation, ACCC review backed by bushfires inquiry
13 December 2021
A Senate committee inquiry triggered by the Black Summer catastrophe has backed increased mitigation and resilience spending and an Australian Competition and Consumer Commission examination of insurance cover as part of actions to help lessen the impact of future bushfires...
Cyclone expertise proposed for ARPC board
13 December 2021
The Australian Reinsurance Pool Corporation should appoint a board member familiar with insurance issues facing residents in cyclone-prone areas if a proposed extension of its responsibilities goes ahead, a Triennial review has recommended...
ASIC releases JobKeeper payment details
13 December 2021
The Australian Securities and Investments Commission has released details of JobKeeper payments received by listed companies and their subsidiaries including insurance businesses...
Insurers, brokers back Tasmania fire levy reform
13 December 2021
Insurers and brokers have backed a Tasmanian shift to a property-based levy to fund fire and emergency services in submissions lodged ahead of a deadline last week...
Federal Government calls for pre-Budget submissions
13 December 2021
The Federal Government has called for submissions for next year’s Budget, which is set for an earlier-than-usual date in March due to the election timetable...
ASIC cyber resilience report flags room for improvements
13 December 2021
The Australian and Securities Investments Commission has urged financial market firms to strengthen their defences to address the growing cyber threat after its latest report found improvements made in the last two years failed to meet expectations...
ALRC proposes key financial law changes
06 December 2021
The Australian Law Reform Commission has proposed changing the wording of the obligation to act “efficiently, honestly and fairly” and has suggested amending the retail client definition and improving advice terms...
SIRA CTP review flags fraud challenge, recommendations for improvements
06 December 2021
The NSW State Insurance Regulatory Authority says an external review of the compulsory third party scheme has found the regime is meeting its overall objectives since its introduction in 2017...
Court to consider $113 million penalty for Westpac
06 December 2021
The Federal Court will be asked to impose penalties of $113 million on Westpac for breaches including systems failings that caused customers to pay for unnecessary duplicate general insurance policies...
SIRA set for $91 million clawback after no appeals
06 December 2021
The NSW insurance regulator will move ahead with a $91 million clawback of excess profits earned by compulsory third party insurers after receiving no appeals against the decision...
APRA proposes new prudential standards to strengthen crisis preparedness
06 December 2021
The Australian Prudential Regulation Authority has released a discussion paper in relation to a pair of new standards that are aimed at strengthening the preparedness of insurers, superannuation trustees and banks to respond to future financial crises...
ASIC Black Summer review seeks data improvements
06 December 2021
Insurers need to invest in better systems processes and internal controls, the Australian Securities and Investments Commission says following a review of Black Summer bushfire claims handling...
AFCA says BI claims handling tool needed 'urgently'
06 December 2021
The Australian Financial Complaints Authority says a tool developed by the Insurance Council of Australia to deal with COVID-related business interruption claims will help reduce disputes and speed clearance of a backlog of cases...
AFCA appoints code compliance head
06 December 2021
The Australian Financial Complaints Authority has appointed Prue Monument as Code Compliance and Monitoring GM...
Government backs AFCA review recommendations
29 November 2021
The Australian Financial Complaints Authority and the Federal Government have supported recommendations from a Treasury review to improve the ombudsman’s performance...