Ex-broker withdraws APRA appeal
07 August 2007
A three-year battle to clear his name has ended with former insurance broker Aaron Stephenson withdrawing his appeal against disqualification by APRA…
Regulatory & Government
ASIC seeks opinions on training…
07 August 2007
The regulations governing training of financial product advisers are under the microscope, as ASIC awaits feedback on a consultation paper released last week…
… while APRA works on Basel II
07 August 2007
APRA is also hoping to prompt some discussion, this time in the insurance and risk management industries…
APRA bars Gen Re officer for second time
31 July 2007
Former London-based Gen Re executive Milan Vukelic has been barred by APRA from directing or managing an insurance company in Australia following a three-year investigation…
Long-tail claimants could be creditors: report
24 July 2007
Future injury claims against companies could be classified under the same legal framework as creditors under a proposal being considered by the Federal Government…
ASIC seeks comment on PI changes
24 July 2007
Holders of financial services licences required to have professional indemnity insurance are being invited to give feedback on the new regulatory regime…
Ex-broker gets 18 months
17 July 2007
Former Sydney broker Paul Blundell will serve at least nine months in jail following his sentencing on Friday on charges of fraudulently omitting to account for money…
Warranty fraud sentenced
17 July 2007
A former Melbourne insurance broker has been given an 18-month community-based order for providing false building warranty insurance certificates to Victorian builders…
ASIC streamlines regulation guides
10 July 2007
The Australian Securities and Investments Commission is ditching its guides and policy statements…
FAI duo charged with dishonesty
03 July 2007
Former FAI General Insurance executives Daniel Wilkie and Ashraf Kamha have been committed to stand trial on criminal charges of acting dishonestly…
APRA probes Gen Re Australia
03 July 2007
The Australian Prudential Regulation Authority says the Australian subsidiary of Gen Re, General Reinsurance Australia, engaged in “questionable behaviour” in the late 1990s…
Insurer capital requirements change
03 July 2007
APRA has released proposed changes to capital requirements for authorised deposit-taking institutions and general insurers in line with international standards…
Levy rates fall
03 July 2007
Insurers and other financial institutions have been given some breathing space on APRA levy rates, with cuts across the board being announced by the Federal Government…
Pearce passes red tape reform
26 June 2007
The Federal Government has passed a raft of measures it says will ease industry concerns over the complexity of reporting standards and red tape in financial services…
Vines found fit and proper
26 June 2007
Former GIO CFO Geoffrey Vines has been reinstated as a “fit and proper person” by the NSW Court of Appeal – but he’s also been ordered pay a pecuniary penalty of $50,000…
APRA reports on bumper insurance stats
26 June 2007
The Australian insurance industry has performed well for the year ended March 31, with net premium revenue at $21.5 billion, up 2.2% on the previous 12 months…
Insurance broker to stand trial
26 June 2007
Victorian insurance broker Anthony Ryan has been committed in the Melbourne Magistrates Court to stand trial on seven dishonesty charges…
APRA disqualifies QC
19 June 2007
Yet another high-profile victim of the HIH collapse felt the lash of the prudential regulator last week…
Insurers get added relief
19 June 2007
ASIC has announced an extension of transitional relief for general insurers and actuaries until August 31 from the original June 20 deadline…
Guilty plea over builders’ warranty
19 June 2007
Victorian-based builders’ warranty insurance provider Dennis Gentry has pleaded guilty in the Melbourne Magistrates Court to four charges following an investigation…