Sims warns of collusion between price-bots
20 November 2017
Big Data can produce major benefits for consumers but also creates opportunities for collusion, the Australian Competition and Consumer Commission says…
Regulatory & Government
Cladding crisis prompts NSW building product laws
20 November 2017
New legislation in NSW will allow the Commissioner of Fair Trading to stop unsafe building products such as flammable cladding being used…
Large CTP payouts push up ACT claim costs
20 November 2017
Average compulsory third party claims costs in the ACT grew 11% to $132,204 last financial year, partly due to the finalisation of several multimillion-dollar payments…
ICA calls for GST distribution reform
20 November 2017
The Insurance Council of Australia has called for GST reform after a report found current distribution arrangements may discourage the phasing out of insurance taxes…
NIBA not convinced on tougher ASIC powers
20 November 2017
The National Insurance Brokers Association has questioned whether the Australian Securities and Investments Commission really needs greater interventions powers…
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…
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…