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Superannuation

APRA confirms Zurich investigation

The Australian Prudential Regulation Authority (APRA) today confirmed that it has been investigating certain past and now unwound reinsurance transactions in Zurich Australia Limited's (ZAIL) general insurance business.

Protiviti launches in Australian market

AAP  |  TUESDAY, 15 JUN 2004
Global internal audit and risk consulting firm Protiviti has today been launched in the Australian market.

Cayman Islands insurer banned from trading after ASIC action

AAP  |  TUESDAY, 15 JUN 2004
A Cayman Islands-registered insurer has been banned from trading in Australia until it becomes properly licensed after a successful action brought by the Australian Securities and Investments Commission (ASIC).

LBW plans $A domestic issue in the near future

AAP  |  TUESDAY, 15 JUN 2004
Landesbank Baden-Wurttemberg (LBW), on Friday announced it has mandated ABN AMRO Bank N.V. Australian branch and RBC Capital Markets to joint lead manage a $A domestic issue.

FPA rejects calls for prosecution

The Financial Planning Association (FPA) has rejected criticism of it by the Australian Investors Association (AIA) which has called for the FPA to be prosecuted for false and misleading statements.

ASIC takes Market Traders to court

AAP  |  FRIDAY, 11 JUN 2004
Australia's corporate watchdog has begun legal proceedings against Market Traders Instituted Australasia for conducting a financial services business without a license.

Macquarie Airports investors finally in the black

AAP  |  FRIDAY, 11 JUN 2004
Investors who bought into Sydney Airport owner Macquarie Airports (MAp) two years ago are finally in the money, after the stock closed above its issue price for the first time on Thursday.

ASIC to crack down on soft dollar benefits

The Australian Securities and Investments Commission (ASIC) today released a research report on soft dollar benefits in the financial planning industry revealing a wide range of benefits other than standard commission payments being made.

ASIC obtains orders against Vanuatu financial website companies

AAP  |  THURSDAY, 10 JUN 2004
Four Vanuatu-based financial services websites have been banned from operating in Australia and their directors ordered to hand over their passports in the lead up to a Federal Court hearing later this month.

Macquarie Infrastructure unit files $US355.9 mln IPO

AAP  |  TUESDAY, 8 JUN 2004
Macquarie Infrastructure Assets Trust filed with the US Securities and Exchange Commission today for an initial public offering of as much as $US355.9 million ($A510.95 million) in shares.