ICA pushes electronic disclosure case for regulations
20 November 2017
Improved electronic disclosure options could be addressed in revised contract regulations due to take effect next year, the Insurance Council of Australia has told Treasury…
Regulatory & Government
ASIC issues banning guidance for new panel
20 November 2017
The Australian Securities and Investments Commission says it will refer “banning matters” to a new Financial Services and Credit Panel when there are issues of significance, complexity or novelty…
NSW greenslip reforms ‘deliver savings’
13 November 2017
The NSW Government has introduced its new compulsory third party motor scheme, along with a price comparison website…
Treasurer pledges support for mutuals
13 November 2017
The Turnbull Government has given strong backing to mutuals as it strives to inject more competition into the financial services and banking sectors…
Taskforce urges tougher ‘real-time’ enforcement powers for ASIC
13 November 2017
The Australian Securities and Investments Commission could order businesses to immediately act to prevent licence breaches under proposed enhanced enforcement powers…
AFCA consultation paper released
13 November 2017
A consultation paper has been released on terms of reference, governance and funding arrangements for the Australian Financial Complaints Authority, the new one-stop dispute resolution body for all financial matters…
ICA flags concerns over whistleblower reforms
13 November 2017
The Insurance Council of Australia supports streamlining whistleblower rules into a single regime, but is concerned about other aspects of draft proposals…
ASIC adds China to growing fintech network
13 November 2017
The Australian Securities and Investments Commission has signed an agreement with its Chinese counterpart to jointly promote fintech across the two markets…
ASIC names 18 for misconduct panel
13 November 2017
The Australian Securities and Investments Commission has appointed 18 members to a new Financial Services and Credit Panel that will be make misconduct decisions…
Brokers invited to WorkCover WA seminar
13 November 2017
WorkCover WA will host a breakfast seminar for insurance brokers on December 8 at Crown Perth…
Consumer groups seek widening of accountability laws
06 November 2017
The Consumer Action Law Centre and advocate organisation Choice have proposed widening new banking accountability laws to apply to other financial services…
Advice group NSG fined $1 million
06 November 2017
The Federal Court has imposed a $1 million civil penalty on NSG Services for breaching the best-interests duty under the Future of Financial Advice reforms…
Industry urges NZ fire levy rethink
06 November 2017
The New Zealand insurance industry is lobbying the country’s new Labour Party-led government over controversial plans to change the way the fire service levy is calculated…
ASIC outlines plan for industry supervision
06 November 2017
Insurers’ surveillance and investigation practices will face scrutiny under the Australian Securities and Investments Commission’s business plan for this financial year…
EQC premium increase kicks in
06 November 2017
Premiums charged by New Zealand’s Earthquake Commission have risen by one-third, in line with an increase announced in this year’s budget to help rebuild funds depleted by the Canterbury and Kaikoura catastrophes…
icare tackles ‘inflated prices’ for medical services
06 November 2017
Insurance & Care NSW says new research proves workers’ compensation schemes face “inflated prices” for medical services, with NSW the worst example…
Global scheme aims to enhance actuarial skills
06 November 2017
Three organisations have signed a five-year agreement aimed at enhancing the actuarial skills of supervisory authorities worldwide…
Enforcers seek tougher penalties for insurers
30 October 2017
The Australian Securities and Investments Commission Enforcement Review Taskforce has proposed civil penalties be imposed on insurers in breach of certain obligations under the Insurance Contracts Act…
Government gets $147 million terrorism pool payout
30 October 2017
The Australian Reinsurance Pool Corporation paid the Federal Government $147.5 million in fees and dividends last financial year, its annual report reveals…
Behaviour is key for regulators, Suncorp says
30 October 2017
Financial services businesses need to be proactive in meeting community expectations as regulators sharpen their focus on culture and behaviour, Suncorp executives have told brokers and planners at a summit for intermediaries…