Regulator tightens control of credit ratings
16 November 2009
The Australian Securities and Investments Commission has tightened the rules governing the disclosure of credit ratings to protect investors…
Regulatory & Government
WorkSafe Victoria slammed in employee survey
16 November 2009
A damning review of WorkSafe Victoria has revealed staff are stressed out and hold a dismal view of their employer…
Ministers take first step in directors’ liability reform
09 November 2009
States and territory governments have agreed to audit what are believed to be more than 600 laws that deal with company directors’ liability…
Governments top-up asbestos fund
09 November 2009
The James Hardie asbestos victims’ compensation fund will be topped up with a government loan of up to $320 million to cover short-term payouts…
Temporary relief for funded class actions
09 November 2009
Class action legal proceedings using litigation funding have been cut some temporary slack by the Australian Securities and Investments Commission…
APRA seeks advice on life data
09 November 2009
The Australian Prudential Regulation Authority is seeking industry advice on what data it should release publicly in a planned six-monthly life insurance bulletin…
APRA chief warns of capital standards changes
02 November 2009
Australia’s “industrial strength” prudential regulation framework doesn’t need overhauling in the wake of the global financial crisis, according to Australian Prudential Regulation Authority…
Victorian insurance broker banned
02 November 2009
The Australian Securities and Investments Commission has permanently banned a Melbourne insurance broker from providing financial services…
Regulator relents on automatic run-off cover
02 November 2009
Financial planners have welcomed a regulatory rethink on an automatic run-off professional indemnity cover requirement for Australian financial services licensees from January 1…
Court decision casts shadow over class action funding
26 October 2009
A Full Federal Court decision last week has put a spanner in the works for many ongoing high-profile class actions…
Insurers on the attack at Victorian tax inquiry
26 October 2009
Insurers have condemned high rates of insurance taxes levied by the Victorian Government in submissions to a state parliamentary committee inquiry…
NZ to beef up financial sector standards
26 October 2009
Solid academic qualifications and formal industry certification form the basis of proposed minimum standards for financial advisers in NZ…
ACT likely to follow NSW on stamp duty refunds
26 October 2009
The ACT is set to follow NSW in paying clients entitled to a stamp duty refund following a July ruling of the NSW Court of Appeal…
Australia signs insurance co-operation deal
26 October 2009
Australia has entered a formal agreement to exchange information and co-operate with other insurance supervisors around the world…
Spatial information to be released to public
26 October 2009
The Federal Government has given the go-ahead for the use of government-held spatial information…
Review chief slams insurance taxes
19 October 2009
Federal Government tax review chairman Ken Henry has slammed insurance stamp duty and the fire services levy as “bad taxes”…
Terrorism insurance scheme stays in place
19 October 2009
The Federal Government will remain the key figure in Australian terrorism insurance for three more years, following a Federal Treasury review of the Terrorism Insurance Act 2003…
Australia signs up for oil spill insurance
19 October 2009
Australia has joined an international fund providing insurance to pay for coastal spills by oil tankers…
Compliance chief calls for mandatory advisers
19 October 2009
Australasian Compliance Institute President Annette Donselaar says leading organisations should be forced to appoint compliance professionals in the wake of the global downturn…
Broker reporting proposals hit a nerve
12 October 2009
New data collection and reporting requirements for general insurance intermediaries proposed by Federal Treasury have met with strong industry opposition…