Byres urges change to exec pay metrics
04 June 2018
Wayne Byres wants the financial services sector to rely less on “narrow and mechanical shareholder” metrics to decide senior executives’ remuneration.
Regulatory & Government
Bank fines fund new financial literacy body
04 June 2018
The Federal Government is to establish a new financial literacy body…
APRA to add second deputy chairman
04 June 2018
The Federal Government has announced the reappointment of Australian Prudential Regulation Authority (APRA) Deputy Chairman Helen Rowell, and the nomination of current Treasury Deputy Secretary John Lonsdale as an additional deputy chairman…
Industry given disclosure relief in AFCA transition
04 June 2018
Financial businesses have until July next year to update their mandatory disclosure documents and periodic statements with the Australian Financial Complaints Authority’s contact details…
ASIC seeks flexible product intervention powers
28 May 2018
A “broad, flexible” approach is the Australian Securities and Investments Commission’s preference if it is granted product intervention powers…
NZ outlines insurance contract law review
28 May 2018
The New Zealand Government says regulation of insurer conduct will be considered in its review of the industry’s contract law…
Palaszczuk holds $38 million for disaster resilience
28 May 2018
Queensland has committed $38 million to strengthen natural disaster resilience, earning praise from insurers and brokers…
Senators demand ‘whole-of-government’ action on climate security
28 May 2018
A Senate committee has pushed for a more integrated approach to tackling climate change and its wide-ranging threats to national security…
VMIA will review sex abuse compo
28 May 2018
The Victorian Managed Insurance Authority will review a policy stance that would deny cover for redress payments made to victims of institutional child sexual abuse under a new national program…
Queensland cladding report flags government buildings
28 May 2018
A cladding taskforce in Queensland says 71 state government buildings may feature combustible material and must be investigated further…
SIRA opens door to premium rate cap exemption
28 May 2018
Employers can now be exempted from a 30% cap on workers’ compensation premium rate rises in exceptional circumstances, following a revision of NSW guidelines…
ASIC fees-for-service legislation introduced
28 May 2018
The Federal Government has introduced legislation into Parliament to finalise industry funding of the Australian Securities and Investments Commission…
icare invites funding pitches for return-to-work ideas
28 May 2018
Innovators with fresh ideas for helping people return to work are invited to apply for funding under a $5 million investment program launched by the Insurance & Care NSW Foundation…
Standards body backs terror risk mitigation guide
28 May 2018
Standards Australia has approved the Australian Reinsurance Pool Corporation’s risk mitigation handbook…
Industry ‘to blame for trust deficit’
21 May 2018
The corporate regulator has told the financial services industry it is responsible for the “trust deficit” it faces…
Industry demands end to ‘thought bubble reform’
21 May 2018
Insurers and brokers have called on the Government to rethink its approach to industry reform…
ASIC bans bogus broker
21 May 2018
The Australian Securities and Investments Commission has permanently banned Samuel Tessa from providing financial services and engaging in credit activities…
Lawyers slam VMIA as sex abuse redress claims denied
21 May 2018
Law firm Maurice Blackburn has criticised the Victorian Managed Insurance Authority (VMIA) for its refusal to cover redress payments for victims of institutional child sexual abuse…
NZ budget funds Canterbury claims tribunal, EQC inquiry
21 May 2018
New Zealand has allocated funding for a tribunal to resolve outstanding Canterbury earthquake residential claims and an independent inquiry into the Earthquake Commission’s performance…
Safety options mooted for automated vehicles
21 May 2018
The National Transport Commission has released options for a safety assurance system covering automated vehicles, saying recorded data will be necessary to aid insurers and other groups…