International accounting standards – be prepared!
28 October 2003
Tired of thinking about the FSRA…?
Regulatory & Government
ASIC makes new PDS rules
28 October 2003
A new class order declaration relating to the preparation of a product disclosure statement by multiple issuers has been issued by ASIC…
Campbell reshuffle interrupts high stakes game
30 September 2003
The Cabinet reshuffle announced yesterday by Prime Minister John Howard will cause some inevitable difficulties for the insurance industry…
Liquidator appointed to unlicensed broker
30 September 2003
ASIC has obtained orders in the Supreme Court of NSW appointing a liquidator to C&A Richards, the company which operates Lennox Heads-based Insurance Made Easy…
Alternative to satisfy licensing cashflow requirements
30 September 2003
ASIC has introduced an alternative for entities within a corporate group to satisfy the cash needs requirement under Policy Statement 166…
30% of AFSL applications are ‘very poor’
23 September 2003
ASIC has just processed its 1000th Australian financial services licence, but of the 30-40% of companies applying for full licences, around 30% been rejected on the grounds…
Updated guides for AFSL applicants
23 September 2003
ASIC has released another series of updated versions of its industry-specific guides to assist those still applying for their AFSL…
Ex-agent kept collecting
23 September 2003
Former AMP super agent Harold Moses has pleaded guilty in the Sydney District Court to one count of defrauding $318,000 from a former client…
Brisbane financial planner banned for fraud
23 September 2003
ASIC has permanently banned Brisbane financial planner Harvey Baigent from acting as a representative of a dealer or investment adviser after he was charged with four counts…
Brokers provide protection: NIBA
09 September 2003
Following ASIC’s recent spate of exposing fraudulent insurance brokers, NIBA has warned that policyholders should be more wary than ever about who they’re entrusting their cover to…
Reinforced warning to policyholders
09 September 2003
ASIC has reiterated its warning of last week that NSW policyholders with insurance arranged through Cootamundra Insurance Consultants and Insurance Made Easy should…
ASIC worried about broker premiums
02 September 2003
ASIC has warned residents and businesses in the rural NSW centres of Cootamundra and Lennox Heads who have arranged insurance cover through…
ASIC snaps back at allegations
26 August 2003
Retiring ASIC Chairman David Knott was still under fire from the media last week, continuing to slap aside allegations regarding his business relationships years before…
Warrnambool agent jailed
26 August 2003
Former insurance agent Vittorio Ziegelaar, who operated in the Victorian coastal town of Warrnambool, has been sentenced to two years’ jail after receiving more than $280,000…
No deals for FSR laggards, says ASIC
19 August 2003
Some disturbing facts for intermediaries who still haven’t decided on their FSR licensing strategy have been revealed by Ian Johnston…
New guide aims at small businesses’ AFSL confusion
19 August 2003
ASIC has released an updated version of its compliance guide for small businesses in a bid to end confusion about new industry requirements…
ASIC looks at foreign insurers’ distribution
19 August 2003
APRA and ASIC are continuing to put pressure on unauthorised foreign insurers operating into the Australian market…
Former NTI chief goes to jail
19 August 2003
Former National Transport Insurance MD Trevor Smith has been sentenced to 18 months jail on 13 charges relating to his improper use of his position…
New ACCC chief warns insurers
19 August 2003
The ACCC will be looking for savings from the tort reforms being introduced around Australia, says new Chairman Graeme Samuel…
WA planner banned for three years
19 August 2003
ASIC has banned Perth financial planner Darren Horner from acting as a representative of a dealer or an investment adviser for three years