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Regulatory & Government

Consumer role gets higher priority

10 April 2001

Consumer protection is being given a greater emphasis by ASIC with the creation of a new Consumer Protection National Directorate…

APRA’S new rules: a bit late for some

03 April 2001

It might be a bit too late for professionals working through the HIH saga, but APRA has released its latest proposals to reform and modernise prudential regulation of…

Friendly move forces changes to life act

03 April 2001

Friendly societies are being brought into line with other members of the life insurance industry in a more forthright manner than had been expected…

NSW rejects the privatisation option

03 April 2001

The NSW workers’ comp system might be in disarray and piling up a deficit at more than $1 million a day, but the chances of it falling into private insurers’ hands are now…

FSRB scheduled for next week

27 March 2001

The Financial Services Reform Bill is on track to be introduced into Federal Parliament next week…

Uncertainty over Health/Safety Act

27 March 2001

The New South Wales Occupational Health and Safety Act 2000 will be enacted next month, with Experts still uncertain what impact it will have…

Calls to broker facility rise

27 March 2001

The Insurance Brokers Dispute Facility’s toll-free number received 52% more calls last year – a total of 3,388 – compared with its first year of operation in 1996…

TWU fund sues its insurer

27 March 2001

The Transport Workers Union Superannuation Fund is taking legal action against its former insurer, Colonial, after losing a legal scuffle with ASIC…

Tax battle continues

27 March 2001

The Insurance Council is continuing to press for the removal of the Fire Services levy and stamp duty on insurance policies, with one small opportunity opening in Victoria…

NRMA disclosure examined

20 March 2001

ASIC is investigating “certain issues of market disclosure and governance” by NRMA Insurance Group and NRMA Limited…

Still no FSRB

13 March 2001

The FSRB didn’t make it through Parliament last week. As we reported last week, the timeline for the legislation is getting uncomfortably tight…

WA Election unlocks legislation

20 February 2001

The major impediment to the FSR legislation – opposition to Corporations Law changes by “states’ rights” advocates led by former WA Premier Richard Court…

Flood insurance taskforce near

20 February 2001

Insurers are working with Financial Services & Regulation Minister Joe Hockey to set up a taskforce to develop solutions to the problems surrounding flood insurance…

Super guide to the GST

20 February 2001

A guide to the GST for the superannuation industry has been published by the Australian Taxation Office – seven months after the GST was introduced…

New enforcer

13 February 2001

Peter Wood, the head of Victoria’s Office of Public Prosecutions, has been appointed ASIC’s new National Director Enforcement…

New fee arrangements

06 February 2001

Differential fee arrangements for managed investment schemes have been introduced by ASIC…