Update on Recent APRA (Confidentiality) Determination

The Australian Prudential Regulation Authority (confidentiality) determination No. 2 of 2017 was made and registered with the Federal Register of Legislation on 22 June 2017. It determines that certain information provided to APRA under specified reporting standards...

Update on the Inquiry Into Australia’s General Insurance Industry

An inquiry is being conducted into Australia’s general insurance industry. On 20 June 2017, the Senate granted an extension to the committee to report by 10 August 2017. See the Senate Standing Committee on Economics’ home page. For a full summary of the issues, email...

ASIC Industry Funding Model Passed Into Law

The Government has introduced the new  industry funding model for the Australian Securities and Investments Commission (ASIC), with the ASIC Supervisory Cost Recovery Levy Bill 2017 and related bills receiving passage through the Senate. It is the Regulations that...

ASIC Enforcement Review Taskforce

The ASIC Enforcement Review Taskforce has released position and consultation papers on the following which warrant close review by industry in relation to their impact: ASIC’s Access to Telecommunications Intercept Material This contains proposed reforms to enhance...

NSW Emergency Services Levy Reform Deferred

On 30 May 2017 Premier Gladys Berejiklian and Treasurer Dominic Perrottet made the surprise announcement that the NSW Government will defer the introduction of the Fire and Emergency Services Levy to ensure small to medium businesses do not face an unreasonable burden...