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Regulatory & Government

NSW WorkCover watchdog calls for simpler system

15 June 2015

Amendments made to WorkCover NSW in 2012 have left the program “overly complex and a source of confusion and frustration for all scheme participants”, according to the WorkCover Independent Review Office…

IAG pushes insurance tax reform

15 June 2015

IAG has called for the abolition of stamp duty on insurance in its submission to the Federal Government’s tax discussion paper…

Laughlin to leave APRA

15 June 2015

Australian Prudential Regulation Authority Deputy Chairman Ian Laughlin will leave the insurance regulator at the end of this month when his five-year term expires…

NZ FMA shakes up executive team

15 June 2015

New Zealand’s Financial Markets Authority has announced appointments and a new role within its executive team…

NZ considers commissions ban

09 June 2015

The New Zealand Government is consulting on regulation of the financial advice industry, with commissions in the firing line…

ICA hopes for insurance tax breakthrough

09 June 2015

The Insurance Council of Australia believes the Federal Government’s tax discussion paper could provide a crucial breakthrough on the long-awaited abolition of insurance stamp duty…

ASIC turns spotlight on corporate culture

09 June 2015

Australian Securities and Investments Commission Chairman Greg Medcraft says company culture is set to become an area of interest for the regulator…

ACCC wants power to run consumer lawsuits

09 June 2015

The competition regulator has welcomed a call for it to have the power to seek redress on behalf of consumers and small businesses affected by breaches of competition law.…

ICA makes case for axing state levies

01 June 2015

Abolishing state stamp duties on insurance premiums would result in a more efficient tax system, the Insurance Council of Australia says in a submission on the Federal Government’s tax discussion paper…

Victorian BWI ‘too expensive, ineffective’

01 June 2015

Builders’ warranty insurance in Victoria is “widely misunderstood, provides only limited protection for consumers and is significantly more costly than it needs to be”, according to the state’s Auditor-General John Doyle…

ASIC grants PDS relief for car dealers

01 June 2015

The Australian Securities and Investments Commission has granted Toyota Finance relief from providing product disclosure statements for business insurance for a network of car dealerships…

ASIC seeks comment on class order remakes

01 June 2015

The Australian Securities and Investments Commission has proposed remaking three banking and insurance class orders that are due to expire between October this year and October 1 2017…

Treasury consults on funding levies

25 May 2015

Treasury, in conjunction with the Australian Prudential Regulation Authority, has begun consultation on financial institution supervisory levies for next financial year…

ICA slams ‘overly conservative’ APRA

25 May 2015

Australia’s onerous regulatory regime is holding back local insurers that want to pursue offshore opportunities, the Insurance Council of Australia says…