Broker attracts regulator’s attention
17 August 2004
Legal action has begun against Melbourne-based insurance broker Marcus Anthony, who allegedly engaged in fraudulent activity while operating…
Regulatory & Government
Liquidator for builders’ warranty providers
17 August 2004
ASIC has obtained orders in the Supreme Court of Victoria appointing Gess Rambaldi as liquidator of Homesafe Equities and Home and Renovators Group…
Report concedes regulation overload
10 August 2004
Federal Treasurer Peter Costello has released a report from the Government’s expert advice group, the Financial Sector Advisory Council, which criticises the amount of regulation…
ASIC continues FSRA clean-up
10 August 2004
Meanwhile ASIC has announced amendments to some class orders providing relief from financial reporting requirements, indicating that it, too, is aware of the need…
Law firm notes CLERP changes
10 August 2004
Law firm Minter Ellison says changes to the Trade Practices Act due to the introduction of CLERP 9 are an important development for the insurance industry…
Rejected: ASIC refund bid for Aborigines
03 August 2004
The Federal Court has thrown out a request by ASIC to order two Aboriginal life insurers to repay some of its customers…
Relief on financial reporting
03 August 2004
ASIC has announced amendments to some class orders that have been effective from June 30…
ASIC appoints ACT commissioner
03 August 2004
ASIC has appointed Delia Rickard as Regional Commissioner for the Australian Capital Territory…
Trans-Tasman regulators grow closer
27 July 2004
Cross-border financial services regulation is on the cards for Australia and New Zealand after the chairmen of the Australian and New Zealand regulators met in Melbourne recently…
NIBA challenges payment rules
27 July 2004
NIBA has had talks with the federal Treasury and ASIC about an anomaly related to payments into insurance broking accounts…
ASIC minimises SOA paperwork
27 July 2004
ASIC has provided further guidance on how it expects licensees and their representatives to prepare Statements of Advice that are clear, concise and effective…
Audit notifications under Clerp 9
27 July 2004
ASIC has put in place procedures to deal with the new notification requirements for registered company auditors, audit firms or audit companies…
Liquidator named for builders’ insurance providers
27 July 2004
ASIC has obtained orders in the Victorian Supreme Court appointing Gess Rambaldi as provisional liquidator to Homesafe Equities and Home and Renovators Group…
Minister concedes the FSRA is flawed
20 July 2004
It’s taken Parliamentary Secretary to the Treasurer Ross Cameron nine months to work out what any financial services professional could have told him for nothing…
Ryan shuts down his fine idea
20 July 2004
Ryan Law, the 22-year-old marketing student who set up a “club” to insure members against parking fines and speeding fines, has shut down his company after discussions with ASIC…
Brokers get some relief on client monies
13 July 2004
The Australian Securities and Investments Commission has introduced interim class order relief allowing brokers to pay money they have received from clients…
New deputy head for ASIC
13 July 2004
Former Blake Dawson Waldron partner Jeremy Cooper is the new Deputy Chairman of ASIC…
Five-year ban for former Melbourne adviser
13 July 2004
ASIC has banned former Melbourne adviser Barry “Bud” Walder from providing financial services as a representative of an AFS licensee for five years…
APRA sets benchmarks for data collection
06 July 2004
APRA has developed reporting standards under the Financial Sector Act 2001 that establish the framework for the National Claims and Policies Database…
ASIC clarifies CLERP 9
06 July 2004
Proving CLERP 9 is going to be a nasty law to deal with, the Australian Securities and Investments Commission has issued two policy statements and two practice notes…