Australia better placed than most in financial crisis
13 October 2008
While Australia will not be immune from the global economy crisis, it is better placed than most to withstand it, says Finance Minister Lindsay Tanner...
Regulatory & Government
NZ financial industry urges further regulatory reform
06 October 2008
A survey of the NZ financial services sector reveals regulatory hurdles continue to obstruct the free flow of financial services and products between NZ and Australia...
ASIC appeals ‘lenient’ Westpoint sentence
06 October 2008
The Commonwealth Director of Public Prosecutions has appealed against the sentence handed down to former Westpoint financial adviser Neil Burnard on August 22...
ASIC: group insurance buyers in the clear
06 October 2008
ASIC has confirmed that group insurance purchasing bodies will not require an Australian financial services licence...
APRA to stay mum on AIG
29 September 2008
Brokers and insurance clients waiting to hear an official word from the Australian Prudential Regulation Authority on the prudential health of AIG Australia are advised to keep breathing...
Pearce returns to the fold as Liberals’ go-to insurance man
29 September 2008
Chris Pearce is back in touch with the insurance industry having accepted a key shadow ministry position with the new team of Liberal leader Malcolm Turnbull...
Claims costs impact insurance industry profits
29 September 2008
Rising claims expenses have impacted on profitability in the local general insurance industry, with net profit plummeting by more than 40% for the year ending June 30…
ASIC and James Hardie directors face off
29 September 2008
It will be a packed house at the New South Wales Supreme Court today, as a groundbreaking case against 10 former James Hardie executives and directors gets under way...
ASIC bans another adviser over Westpoint
29 September 2008
ASIC has banned Gold Coast financial adviser Andrew Gordon Wright for five years for not complying with financial services laws, and says it expects he will not comply…
Victoria ‘the safest place to work’
29 September 2008
WorkSafe Victoria, the agency responsible for managing Victoria’s workplace safety system, says the southern state is the safest place to work in Australia...
Lawyers alarmed at new workers’ comp laws
22 September 2008
The Victorian Government has introduced legislation to overturn a key Supreme Court decision on workers’ compensation insurance...
IOSCO urges worldwide rules for ratings agencies
22 September 2008
The peak international body for securities commissions has called for consistent international standards in the regulation of credit ratings agencies...
Australia seals deal with EU on emergency management
22 September 2008
A new agreement between Australia and the European Union will see the two countries work more closely on emergency management challenges following completion of…
Funders win anti-money laundering battle
15 September 2008
Premium funders appear to have won their battle to keep the most onerous aspects of the Anti-Money Laundering and Counter-Terrorism Financing Act away from general insurance...
Raise dispute payout cap, says ASIC
15 September 2008
The Australian Securities and Investments Commission wants to raise the “cap” on compensation that can be awarded by an external dispute resolution scheme to $280,000...
HIH tax counsel wins APRA ban appeal
15 September 2008
Former HIH Group Tax Counsel Paul Abela has won his appeal against an Australian Prudential Regulation Authority ban preventing him from holding a senior insurance role...
ASIC still pursuing James Hardie after dropping criminal case
08 September 2008
The Australian Securities and Investments Commission will begin civil proceedings against manufacturer James Hardie in the NSW Supreme Court this month...
Expert joins terror reinsurance pool
08 September 2008
Well-known insurance regulator Tom Karp has joined the board of the Australian Reinsurance Pool Corporation for a three-year term...
ASIC signs mutual recognition agreement with US regulator
01 September 2008
The Australian and US governments have paved the way for easy access to each other’s financial systems in an historic move by the US...
Compensation boost for oil spill victims
01 September 2008
The Federal Parliament has passed legislation strengthening the compensation regime that applies when oil spills occur within Australian waters – quadrupling the maximum…