Former broker brothers plead guilty
05 June 2007
Brothers Paul and Richard Blundell, former directors of Sydney-based brokerage Blundell & Associates, have pleaded guilty in the District Court to charges brought by ASIC…
Regulatory & Government
Government keen to simplify regulation
29 May 2007
The Federal Government has introduced the Simpler Regulatory System package to Parliament in a bid to have it passed during the winter session so it can take effect…
Skills set for ASIC review
29 May 2007
Financial adviser training courses for insurance brokers may be overhauled following an ASIC review…
Disqualification powers upheld
29 May 2007
Two constitutional challenges to the power of corporate regulators to bar directors and suspend liquidators have been quashed…
ASIC releases PDS update
29 May 2007
ASIC has released technical updates to three policy statements, a guidance paper and several class orders relating to financial services providers…
Government acts without acting
22 May 2007
The Federal Government says regulation on financial services licensees being required to have professional indemnity insurance is expected by July 1…
HIH auditor back at work
22 May 2007
Former HIH auditor Jonathan Pye has been welcomed back into the financial services fold after a five-year absence…
Director faces fraud charges
22 May 2007
A Melbourne man has appeared in court on fraud charges relating to more than $5 million of premiums…
HIH director Fodera faces jail
15 May 2007
Former HIH director Dominic Fodera is almost certain to receive a jail sentence after a prosecutor argued last week he should serve nearly three years for his actions…
APRA seeks staff, ASIC enhances IT
15 May 2007
Australia’s two financial services regulators, the Australian Securities and Investments Commission and APRA, received a funding boost in last week’s Federal Budget…
More red tape cut
15 May 2007
Assistant Treasurer Peter Dutton has released a draft of the Financial Sector Legislation Amendment (Simplifying Regulation and Review) Bill…
APRA tailors framework for DOFIs
08 May 2007
APRA will modify its regulatory framework following the addition last week of DOFIs to its responsibilities…
ASIC may offer relief to not-for-profits
08 May 2007
The Australian Securities and Investments Commission is seeking submissions on proposals to offer exemptions for some entities that arrange group insurance, such as sporting…
HIH Chairman faces charges
01 May 2007
Former HIH Chairman Geoff Cohen will face criminal charges later this year relating to the collapse of the company, with prosecutors alleging he gave misleading information…
Lucy ends term as ASIC head
01 May 2007
Jeff Lucy’s three-year term as Chairman of ASIC has drawn to a close, and Commissioner Tony D’Aloisio will take over later this month…
APRA offers flexibility in a pandemic
11 April 2007
Business may be exempt from some APRA regulatory requirements during any national health pandemic to help regulated institutions through the crisis…
Sales recommendation issue still sparking debate
11 April 2007
The Federal Government continues to work on regulatory amendments through the Simpler Regulatory System Bill, but the more complex sales recommendation will be…
Government listening on red tape: Pearce
11 April 2007
Mr Pearce says lightening the regulatory burden on the financial services industry is crucial for a well-functioning economy…
Boards urged to ‘live and breathe’ risk
11 April 2007
The argument of principles versus prescription-based regulation – or, in other words, rules – is a hot topic around the world, according to APRA Member John Trowbridge…
Former GIO executive loses appeal
11 April 2007
The NSW Court of Appeal has upheld findings that former GIO Australia Holdings CFO Geoffrey Vines contravened his duty of care on three occasions relating to profit forecasts…