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Australia improves Life Insurance oversight

  • by The Quotesonline Team

New laws have been introduced to oversee non-operating holding companies in the Life Insurance sector, they will now be subject to enforcement powers and injunctions imposed by  Australian Prudential Regulation Authority

The new laws give APRA more certainty to regulate the life insurance sector, and allows the federal court to impose possible injunctions, and follows the recommendations of an International Monetary Fund review of Australia’s finance sector

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