Former agent pleads guilty
19 November 2002
Joseph McNeany, a former insurance agent of the Melbourne suburb of Hawthorn, has pleaded guilty to 20 charges of theft totalling around $78,000…
Regulatory & Government
Palmer report outlines APRA’s role in HIH’s demise
12 November 2002
The question of whether or not the HIH collapse would have been prevented, or at least would have not been as severe if there had been effective regulatory intervention…
ASIC revises policy statements and licensing guidance papers
12 November 2002
ASIC has released revisions of four policy statements and two guidance papers relating to FSR requirements…
Super fraudster fined
12 November 2002
Insolvency consultant Vince Taskovski has been fined $4000 after pleading guilty to two charges laid by ASIC of fraudulently inducing the redemption of superannuation benefits…
APRA bolstered by its own inquiry
05 November 2002
APRA CEO Graeme Thompson has welcomed the public release of the Palmer report into APRA’s abilities and actions prior to the collapse of HIH…
Regulator levies to be examined
05 November 2002
Insurers will get a chance to say what they think about the millions of dollars they spend each year funding Australia’s financial services regulators…
Lost $7 billion finding its owners
05 November 2002
More than $4.7 million worth of superannuation has been recovered since Assistant Treasurer Senator Helen Coonan launched the Unclaimed Super Recovery Initiative…
ASIC updates its hawking rules
29 October 2002
ASIC has released an updated version of its guide to hawking prohibitions of the Corporations Act…
No more medical crises, says APRA
29 October 2002
APRA has greeted the Government’s decision to put the regulator in charge of medical indemnity insurance as a positive move…
APRA’s annual report gives positive review of regulation
29 October 2002
Australia’s prudential regulatory and supervisory framework is better and more strongly regulated than before, according to the APRA annual report for 2001/02…
Former OAMPS chief disqualified
29 October 2002
Kingsley Lamont, a former Executive Director and Chairman of OAMPS, has been disqualified by APRA from being a trustee in any superannuation entity or a responsible officer…
Ex-broker gets community service
29 October 2002
Former NSW insurance broker Graham Apolony has been sentenced to 300 hours’ community service after being convicted on charges brought by ASIC…
IBDF branches out
22 October 2002
ASIC has approved the registration of the brokers’ dispute facility as a recognised alternative dispute resolution scheme…
ASIC revises its elicensing system
15 October 2002
ASIC today released Version 2 of its eLicensing system and the Australian Financial Services Licensing Kit, as part of ASIC’s ongoing implementation…
Samuel tipped as next ACCC boss
15 October 2002
Melbourne businessman and National Competition Council chief Graeme Samuel will probably take over as ACCC Chairman in mid-2004, and already comparisons…
APRA calls for more insurance reforms
01 October 2002
APRA has made it very clear that there will be no more HIH collapses as long as it’s around…
ASIC finalises life policy illustration rates
01 October 2002
ASIC has made its final update to ISC Circular No G.I.2 which prescribes gross and net tax investment returns and inflation rates for policy illustrations between…
Financial reporting changes likely
24 September 2002
The Federal Government is considering giving ASIC sweeping new powers in a bid to lift the bar on financial reporting…
APRA announces scholarship program
24 September 2002
APRA and the Reserve Bank of Australia have established an annual scholarship program in memory of regulatory stalwart Brian Gray…
ASIC reaches 100 mark with disclosure
17 September 2002
ASIC has reached a milestone with 100 Product Disclosure Statement “in use” notices being lodged since the introduction of the FSRA in March…