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Regulatory & Government

AFCA work aims for clarity around key fairness role

16 May 2022

The Australian Financial Complaints Authority has completed a program of work to provide greater clarity around its fairness responsibilities while providing tools to assist all parties involved in the disputes process...

NSW launches investigation over Mascot Towers

16 May 2022

The NSW Government is launching an investigation into the conduct of the former City of Botany Bay regarding Mascot Towers, which was evacuated in 2019 after fears the building was unsafe...

ICNZ seeks graduated climate change reporting

16 May 2022

The Insurance Council of New Zealand has proposed a more graduated approach to reporting climate change impacts on financials, as disclosure rules are considered ahead of new reforms coming into effect...

APRA plans deeper dive into detailed data

09 May 2022

The Australian Prudential Regulation Authority plans to enhance its data collection to gain greater insights into the performance of products and emerging risks, the Actuaries Institute summit has heard...

AFCA adopts merit test after pilot

09 May 2022

The Australian Financial Complaints Authority has made early “merit assessment” a permanent feature of its process, saying a pilot program showed this made complaints handling faster, cheaper and fairer...

APRA letter outlines cyclone pool treatment

02 May 2022

The Australian Prudential Regulation Authority has written to general insurers about its plans to clarify capital implications from the new government-backed cyclone reinsurance pool...

NZ launches climate change adaptation plan

02 May 2022

The New Zealand Government has launched a draft National Adaptation Plan aimed at helping communities adapt to the unavoidable impacts of climate change...

Questions answered on Financial Claims Scheme

02 May 2022

The Australian Prudential Regulation Authority has released an updated set of frequently asked questions to provide information about the Financial Claims Scheme for general insurance...

Flood-hit states take action to ease tradie shortages

26 April 2022

Queensland is offering financial incentives to encourage tradies to travel to the state to carry out flood rebuilding work, while NSW is cutting licensing red tape to facilitate cross-border movement of skilled labour...

Federal Court finalises penalties in Westpac actions

26 April 2022

The Federal Court has penalised Westpac a total of $113 million after last week wrapping up six separate civil proceedings filed in November over issues related to general insurance and other financial services...

Youpla fund complaints rise to more than 700

26 April 2022

The number of financial complaints lodged against four Aboriginal Community Benefit Fund companies, known as the Youpla group, has increased to more than 700...