Broker investigation… it’s still coming
21 June 2005
ASIC’s investigation into Australian brokers’ remuneration practices may be more than 10 weeks late, but it will be released sometime in the next month, according to the regulator…
Regulatory & Government
ASIC enters agreement with Pakistan
21 June 2005
ASIC and Pakistan’s financial services regulator the Securities and Exchange Commission of Pakistan have entered a Memorandum of Understanding in a bid to forge…
Abbott charges dismissed
15 June 2005
Criminal charges brought by ASIC against HIH former Deputy Chairman Charles Abbott were dismissed last week…
Adler evidence just not enough
07 June 2005
Suggestions jailed FAI chief Rodney Adler agreed to a “plea bargain” to reduce his sentence got short shrift from ASIC in Federal Parliament last week…
Abbott hearing under way
07 June 2005
Former HIH director Charles Abbott shouldn’t be tried for his last-minute scramble to get payments from the company in the hours before it collapsed…
New regulations for company boards
24 May 2005
APRA has released draft standards and a discussion paper on proposed governance regulations for authorised deposit-taking institutions, general and life insurers…
Queensland adviser banned
24 May 2005
ASIC has permanently banned former Gold Coast financial adviser Michel Ruurda from providing any financial service…
Funding boost for ASIC and APRA
17 May 2005
The Australian Securities and Investments Commission and the Australian Prudential Regulation Authority have been granted extra funding from the Federal Budget…
Reforming the reforms: ASIC’s program
17 May 2005
ASIC is getting behind refining the Government’s promises to overhaul important aspects of the Financial Services Reform Act, with eight “refinement projects” for financial services…
Another HIH-linked disqualification
17 May 2005
APRA has disqualified former HIH Reinsurance Manager Ray Gosling from being or acting as a director or senior manager of a general insurer…
ASIC maintains transparency
17 May 2005
A new ASIC report gives some insight into how the financial services regulator applies its policies in practice…
ASIC bans insurance agent
17 May 2005
ASIC has permanently banned insurance agent Kalman Gradman, of the Melbourne suburb of Caulfield North, from providing financial services…
Industry welcomes APRA Stage 2 draft
10 May 2005
The Australian Prudential Regulation Authority has released a draft of its proposed stage 2 reforms for general insurance…
Actuaries in the limelight
10 May 2005
Actuaries are taking centre stage in the new APRA reporting arrangements, and the Institute of Actuaries of Australia has welcomed the increased role they will play…
ASIC offers relief on FSGs
10 May 2005
As part of the 25 proposed changes to the Financial Services Reform Act being pushed through the system by Parliamentary Secretary to the Treasurer Chris Pearce…
PI changes for brokers
03 May 2005
Regulations have been amended to extend the professional indemnity (PI) insurance requirements of the repealed Insurance Act while the Federal Government…
Broker investigation due, but no news yet
03 May 2005
The results of ASIC’s investigation into the remuneration payments and other financial arrangements between brokers and insurers were due last week, but the regulator…
Legal profession optimistic about ASIC investigation
27 April 2005
They might be baying for blood in New York over insurance industry activities, but the Australian industry has nothing to fear from the investigation being conducted by ASIC…
Spare Cassidy, he’s been helpful: lawyer
27 April 2005
Former HIH director Terry Cassidy shouldn’t be sent to jail when he is sentenced on Friday because he has provided useful information to ASIC about the collapse, his lawyer says…
New prudential standards on business continuity management
27 April 2005
The Australian Prudential Regulation Authority has issued prudential standards on business continuity management for authorised deposit-taking institutions…