Recent Articles

APRA prudential framework for the supervision of general insurance groups

David Jacobson
January 06, 2009 09:22

This is an article I recently wrote for Complinet. The HIH Royal Commission recommended that Australia develop a framework for the effective supervision of corporate groups that include general insurers. APRA’s response began with a discussion paper, Prudential supervision of...This is an article I ...

Risk management by directors

David Jacobson
January 02, 2009 10:09

One of the important lessons of 2008 is that we can't predict everything and that there will always be surprises (even if in hindsight the cause of the surprise appears to be obvious). The essence of risk management lies in...One of the important lessons of 2008 is that we can't predict everything...

Directors' duties in refinancing: Bell Group decision

David Jacobson
December 29, 2008 22:31

The Bell Group Ltd (in liq) v Westpac Banking Corporation [No 9] [2008] WASC 239 dealt with a claim started in 1995 by the liquidators of Bell Group against 21 banks challenging the way in which securities were given and...The Bell Group Ltd (in liq) v Westpac Banking Corporation [No 9] [2008] WASC...

New regime proposed for Third Sector: charities and not-for-profit organisations

David Jacobson
December 27, 2008 20:56

The Senate Standing Committee on Economics has released a report on charities and not-for-profit organisations. The Committee's recommendations include: that the Government establish a unit within the Department of Prime Minister and Cabinet specifically to manage issues arising for...

Insurance: Financial Claims Scheme

David Jacobson
December 27, 2008 06:50

The Insurance Amendment Regulations 2008 deal with the practical operation of the Financial Claims Scheme (FCS) relating to claims by policyholders against insolvent insurers. The Regulations specify which insurance policies would not be protected by the scheme, the time period...The Insurance...

Australian Government financial sanctions against Zimbabwe

David Jacobson
December 24, 2008 20:45

The Australian Government has updated its financial sanctions against certain persons associated with the Mugabe regime in Zimbabwe under the Banking (Foreign Exchange) Regulations 1959. The Australian Government has directed the Reserve Bank to remove 4 persons and add 75...The Australian...

Madoff: the biggest ever Ponzi scheme?

David Jacobson
December 23, 2008 04:58

The global financial crisis has affected a wide range of investors. It has also exposed major frauds such as Bernie Madoff's alleged US$50 billion Ponzi scheme (Story: NPR). Whilst the concept of a Ponzi scheme is relatively straightforward ( use...The global financial crisis has affected a wide...

Australian Government responses to the Clarke Inquiry and other counter-terrorism reviews

David Jacobson
December 23, 2008 03:21

The Attorney General has announced the Government’s response to reviews of national security legislation as well to the public report of the Inquiry by the Hon. John Clarke QC into the case of Dr Mohamed Haneef . The Government will...The Attorney General has announced the Government’s response to r...

Revised prudential standard on audit requirements for ADIs

David Jacobson
December 23, 2008 03:10

The Australian Prudential Regulation Authority (APRA) has released a revised prudential standard on audit requirements for authorised deposit-taking institutions (ADIs). The aim of revised Prudential Standard APS 310 Audit and Related Matters is to ensure that APRA is provided with... The...

Finding delisted and deregistered companies

David Jacobson
December 22, 2008 20:13

deListed provides updates and information on failed companies including those in external administration and companies suspended from ASX, NZX, NSX and BSX. It also has all historical name changes and delistings for these exchanges and carries administrators/liquidators declarations for...