Disqualification overturned on appeal
The Administrative Appeals Tribunal has overturned the disqualification of Charles Abbot, a former director of HIH Insurance.
The Australian Prudential Regulation Authority (APRA) disqualified Abbot in 2005 from being or acting as a senior manager or director of a general insurer as a result of his conduct as a director of HIH. He was an alternate director of HIH from 1995 to 2007, a non executive director from 1997 to 2001 and deputy chairman from 2001 onwards. Abbot will now be treated as though he had never been disqualified.
Abbot appealed APRA’s decision with the Administrative Appeals Tribunal in 2005.
Recommended for you
The central bank has released its decision on the official cash rate following its November monetary policy meeting.
Melbourne advice firm Hewison Private Wealth has marked four decades of service after making its start in 1985 as a “truly independent advice business” in a largely product-led market.
HLB Mann Judd Perth has announced its acquisition of a WA business advisory firm, growing its presence in the region, along with 10 appointments across the firm’s national network.
Unregistered managed investment scheme operator Chris Marco has been sentenced after being found guilty of 43 fraud charges, receiving the highest sentence imposed by an Australian court regarding an ASIC criminal investigation.
