APRA raises expectations on cyber security
30 October 2017
The Australian Prudential Regulation Authority is stepping up its scrutiny of cyber-attack prevention and incident response plans, as the potential threat to areas it oversees increases…
Regulatory & Government
Industry funding to lift regulatory results: ASIC
30 October 2017
The Australian Securities and Investments Commission says the shift to industry funding this year will help improve its performance and encourage accountability in the financial services sector…
ICA supports ASIC car dealer sales proposals
30 October 2017
The Insurance Council of Australia has backed proposed measures to supervise the sale of add-on insurance and warranties at car dealerships…
Treasury calls for feedback on regulation updates
30 October 2017
Treasury wants submissions on updated insurance contract regulations that will take effect next April, when current arrangements expire…
ASIC adds Switzerland to fintech family
30 October 2017
The Australian Securities and Investments Commission and Swiss Financial Market Supervisory Authority have signed a fintech agreement to help innovators operate seamlessly in each country…
New ASIC chief flags focus on culture, trust
23 October 2017
Incoming Australian Securities and Investments Commission Chairman James Shipton intends to work on industry culture and trust when he starts his five-year tenure on February 1…
State eases path to stamp duty exemption
23 October 2017
NSW will remove a requirement for small businesses to provide a written declaration to be eligible for new exemptions from insurance stamp duties…
ICA urges action on medical indemnity programs
23 October 2017
Health Department medical indemnity schemes, set up to facilitate affordable cover, are important and should continue, the Insurance Council of Australia says…
Mortgage cover credit reporting ‘needs review’
23 October 2017
An independent review of the Privacy (Credit Reporting) Code 2014 should include the significance of comprehensive credit reporting to lenders’ mortgage insurance, according to the Insurance Council of Australia…
RBNZ rejects calls for independent review
23 October 2017
The Reserve Bank of New Zealand has dismissed calls for its review of the Insurance (Prudential Supervision) Act 2010 to be carried out by an independent body…
NZ regulator clears path for personalised robo-advice
23 October 2017
After months of consultation, New Zealand’s Financial Markets Authority will use its exemption powers to circumvent laws preventing personalised robo-advice…
ASIC, FMA affirm fintech collaboration
23 October 2017
The Australian Securities and Investments Commission and New Zealand’s Financial Markets Authority have reaffirmed their collaboration on fintech and innovation…
Appointed actuary reforms strengthen industry: APRA
23 October 2017
Proposals for an actuarial advice framework are aimed at strengthening the industry, according to the Australian Prudential Regulation Authority…
icare extends fast-track treatment pilot
23 October 2017
A pilot panel of medical experts has speeded medical decision-making for injured NSW workers from an average of six weeks to six days…
ICA urges class action reform
16 October 2017
The Insurance Council of Australia has called for class action regimes to be made more efficient and cost-effective, as an increase in securities-related claims affects the market for directors’ and officers’ cover…
Terrorism expert urges focus on recovery
16 October 2017
Terrorist attacks can’t always be prevented, so authorities must also focus on resilience and recovery, a strategic analyst says…
NSW plans CTP refunds
16 October 2017
Most NSW motorists can expect a compulsory third party refund next year as part of government reforms aimed at making the scheme fairer and more affordable…
APRA earns positive scorecard from industry
16 October 2017
General insurers have marked down the Australian Prudential Regulation Authority for its performance on cost consultations, while giving the regulator a mostly positive scorecard in its biennial Stakeholder Survey Report…
Premiums may rise under tax benefit changes: ICA
16 October 2017
Insurers may be forced to raise premiums to offset costs under Treasury’s proposal to remove a “double tax benefit” arising with certain deductible liabilities held by an entity that joins a consolidated group…
Ministers stop short of cladding ban
09 October 2017
The Building Ministers’ Forum has announced measures to prevent the use of flammable cladding on high-rise buildings, but has not recommended a national ban on the product…