Where are we up to again? Insurance regulation over the horizon

By Philip Hopley The Australian regulatory financial services sector has certainly been giving props to Greek philosophy of late with its channelling of Heraclitus’ statement that “there is nothing permanent except change.” Now that the dedicated insurance hearings at the Royal Commission have finished, here is a snapshot of the current legislative and regulatory plans for … Read more

Financial product design & intervention powers – updated draft legislation released

By Philip Hopley The federal government has just released for public consultation a second exposure draft of the legislation that will introduce financial product design and distribution obligations into the Corporations Act and give ASIC new enforcement powers, which includes the issuing of stop orders. Having considered the submissions provided on the first draft of exposure legislation … Read more

When utmost good faith is not good enough

By Philip Hopley There is just over a month left for stakeholders to provide views on a proposed model that will implement the government’s policy to apply unfair contract terms legislation to life and general insurance contracts for consumers and small businesses. To find out more, click here.   Read more