ASIC launches appeal over XQZT case
12 October 2009
Who is XQZT? And why has his or her name and every other detail of his or her case been suppressed by the Administrative Appeals Tribunal after he or she was banned in July…
Regulatory & Government
ASIC head to chair international regulatory body
12 October 2009
Australian Securities and Investments Commission Chairman Tony D’Aloisio has been invited to chair major international regulatory body the Joint Forum…
ASIC relies on insurance in Westpoint case
12 October 2009
The corporate regulator will rely on professional indemnity cover to help recoup up to $14 million in Westpoint losses from liquidated WA firm Brighton Hall Securities…
ASIC charges former Westpoint CFO
12 October 2009
Former Westpoint Group Chief Financial Controller Graeme Rundle appeared in a Sydney local court last week to face criminal charges brought by the Australian Securities…
Competitive barriers stifling financial services
12 October 2009
Government-imposed competitive barriers that stop financial services companies from competing on a level playing field need to be removed…
Downturn brings pricing message from regulator
05 October 2009
Lower interest rates require higher premiums – that’s the pricing implication for general insurers in the wake of the economic downturn, according to the prudential regulator…
NIBA slams Victorian insurance taxes
05 October 2009
The National Insurance Brokers Association has slammed the Victorian Government over its “extreme” level of insurance taxes in a submission to a state parliamentary committee…
Lawyers eye boost in professional indemnity options
05 October 2009
Exposure to the open marketplace is definitely not on the agenda for a Law Council of Australia committee seeking greater freedom of choice in compulsory professional indemnity cover…
ASIC blocks life dealer’s telemarketing tactics
05 October 2009
The Australian Securities and Investments Commission has accused direct life insurance marketer Aegon Direct Marketing Services Australia of making telephone sales…
Stakeholders give APRA high marks for integrity
28 September 2009
The Australian Prudential Regulation Authority’s first stakeholder survey reveals general satisfaction with the regulator, despite some concern over compliance costs…
ASIC outlines broker best practice
28 September 2009
Put it in writing. That’s the message to brokers from the Australian Securities and Investments Commission…
Swan approves James Hardie relocation
28 September 2009
Federal Treasurer Wayne Swan has announced Federal Government approval of a bid by James Hardie to relocate its corporate headquarters from the Netherlands to Ireland…
Investments tumble but workers safer
28 September 2009
Turbulent investment markets continued to pummel Victoria’s workers’ compensation system in the year to June 30, with the state’s WorkSafe workplace safety agency booking a net loss…
APRA figures reveal tough year for underwriting
21 September 2009
Though it was a tough financial year for underwriting, insurers have turned things around in the final quarter, figures from the Australian Prudential Regulation Authority reveal…
ACCC tackles spate of product recalls
21 September 2009
A number of recent high-profile product recalls has propelled the Australian Competition and Consumer Commission to review the country’s product recall system…
Tasmanian broker guilty of dishonest conduct
21 September 2009
A former Launceston insurance broker will be sentenced on Friday over his dishonest conduct around financial products and fees and charges…
ASIC settles Westpoint class action
21 September 2009
The Australian Securities and Investments Commission has settled a Federal Court class action against a Queensland financial firm over advice given to investors in Westpoint…
APRA moves to defer insurance bonuses
14 September 2009
The Australian Prudential Regulation Authority has stepped up its campaign to defer performance-based pay in a second consultation package on remuneration…
Brokers face new DOFI rules
14 September 2009
The Federal Treasury wants to extend reporting rules monitoring exemption arrangements for business placed with direct offshore foreign insurers…
Former HIH director’s referees confidential
14 September 2009
The Administrative Appeals Tribunal has agreed to suppress the identities of the lawyers and members of the insurance industry who gave character evidence about former HIH Insurance…