Defective products harming 10 people a day
27 August 2018
About half of Australian households are exposed to faulty products, the Australian Competition and Consumer Commission warns…
Regulatory & Government
O’Dwyer unveils new financial literacy program
27 August 2018
The Government has launched the National Financial Capability Strategy, which aims to improve Australians’ understanding of money matters and help them make informed decisions…
Insurers back class action reform
20 August 2018
Insurers have pushed for litigation funder licensing and other changes to the class action regime in submissions to an Australian Law Reform Commission inquiry…
Builder ‘broke law’ over cladding
20 August 2018
A director of building firm LU Simon broke the law by installing flammable cladding on the Lacrosse apartments in Melbourne, the Building Practitioners Board has found…
Policymakers push for cladding standard
20 August 2018
Ministers have asked Standards Australia to develop an Australian Standard for permanent labelling of aluminium composite panels…
ICA raises concern over distribution bill
20 August 2018
The Insurance Council of Australia remains sceptical that the Treasury’s revised draft product design and distribution bill can be applied to the industry…
Coalition silent as senators split on climate change
20 August 2018
A Senate committee tasked with reviewing climate change impacts has failed to find common ground on an action plan…
Victoria invests in power line safeguards
20 August 2018
The Victorian Government will provide $10 million in grants to install technology that can help stop electrical faults starting bushfires…
NZ court rules on CBL disclosure duty
20 August 2018
New Zealand’s High Court has ruled that continuous disclosure obligations “are suspended” for companies in voluntary administration…
ICA calls for levy monitor role to be reconsidered
13 August 2018
The Insurance Council of Australia has called for the NSW Government to reconsider the continuing role of the Emergency Services Levy Insurance Monitor…
Elders pair banned after QBE uncovers crimes
13 August 2018
Two Elders Insurance brokers have been permanently banned by the Australian Securities and Investments Commission after being convicted of fraud and theft.
NSW cracks down on cladding
13 August 2018
NSW will ban the use of dangerous cladding on high-rise buildings this week, following public submissions by the state’s Commissioner for Fair Trading…
Regulatory burdens stifle innovation: ICA
13 August 2018
Increased regulatory requirements are holding back industry innovation as insurers expend more resources on compliance, the Insurance Council of Australia has warned a federal parliamentary committee…
Driverless vehicle study flags ‘profound benefits’, challenges
13 August 2018
Infrastructure Victoria has published a study on the potential economic impact of autonomous vehicles, including health, environment, land use and road use findings…
FMA ‘losing patience’ on conduct
13 August 2018
New Zealand’s Financial Markets Authority has warned the industry to improve governance practices and root out misconduct and conflicts of interest…
ASIC secures $70 million funding boost
13 August 2018
The Australian Securities and Investments Commission will receive an extra $70.1 million to help combat misconduct…
ASIC forces $250 million in H1 compo
13 August 2018
The financial services sector paid nearly $257 million in compensation and remediation to consumers and investors in the first half of this year…
NIBA seeks feedback on aviation framework
13 August 2018
The National Insurance Brokers Association wants members to provide feedback to the Government’s review of the civil aviation insurance and liability framework…
ASIC helps consult on global fintech network
13 August 2018
Financial regulators are consulting on creating a global innovation network to promote fintech collaboration and testing…
Commission repeats call for brand clarity
06 August 2018
The Productivity Commission has released its final report on competition in the financial system, including general insurance…