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Showing 1001 - 1010 of 7376 results for "Consumer"

ASIC concerns see 18 funds update advertising materials

JAMIE WILLIAMSON  |  THURSDAY, 8 SEP 2022
ASIC surveillance of managed funds' marketing materials has found several instances of inadequate warnings or disclaimers related to performance and downplaying of risks, leading 13 providers to make amendments. To date, 13 responsible entities or trustees ...

RBA anticipated to lift the cash rate

ANDREW MCKEAN  |  TUESDAY, 6 SEP 2022
According to Finder's RBA Cash Rate survey, 97% of economists and experts have forecast that the Reserve Bank of Australia (RBA) will increase the cash rate today. The survey found that almost two-thirds of respondents predicted a rise of 50 basis ...

Insurers are 'fishing' for non-disclosures: ASIC

ANDREW MCKEAN  |  FRIDAY, 2 SEP 2022
... insurers to ensure customers are protected from unfair practices. ASIC has longstanding concerns about the potential consumer harm resulting from the overuse of intrusive claims handling practices like non-disclosure investigations and physical surveillance. ...

Four MySuper products fail for second time: APRA

JAMIE WILLIAMSON  |  WEDNESDAY, 31 AUG 2022
Five MySuper products have failed the second annual MySuper performance test, with four of them failing for a second time. The product that failed this year's performance test for the first time is Westpac Group Plan MySuper. Westpac must now identify ...

A sensible roadmap: Industry responds to QAR paper

JAMIE WILLIAMSON  |  MONDAY, 29 AUG 2022
... right, "by detailing a framework that allows consumers to get advice on the topics they need, with all the necessary consumer protections, and through a channel that suits them, rather than a one-size-fits-all model." He added: "The financial advice ...

Focus on providing 'good advice': QAR draft proposals

JAMIE WILLIAMSON, CASSANDRA BALDINI  |  MONDAY, 29 AUG 2022
A focus on providing 'good advice', the scrapping of general advice, and allowing superannuation funds to provide personal financial advice are just some of the proposed reforms contained in the Quality of Advice Review's consultation paper. ...

ASIC tells super trustees to improve TMDs

ANDREW MCKEAN  |  MONDAY, 29 AUG 2022
... for distributors to determine who products are appropriate for, ASIC said. However, some others used descriptions of consumer classes that were too broad to be meaningful such as 'those wishing to save for retirement.' ASIC recommended that trustees ...

MobiSuper, licensee to pay $250k penalty

JAMIE WILLIAMSON  |  MONDAY, 29 AUG 2022
... being misled into moving their superannuation to MobiSuper. "This practice was not focussed on what was best for the consumer. ASIC will continue to work to ensure licensees comply with the law and correctly monitor their corporate authorised representatives ...

Remediation bills revealed amid call for levy freeze extension

JAMIE WILLIAMSON  |  WEDNESDAY, 24 AUG 2022
Six of the largest financial institutions have paid or offered a total of $3.6 billion in compensation to consumers over fees for no service and non-compliant advice. The new stats come as the Financial Planning Association of Australia calls for an ...

ASIC highlights strategic priorities

CASSANDRA BALDINI  |  TUESDAY, 23 AUG 2022
... currently belong to members aged 65 and over. "As Australia's population ages, this proportion has been steadily increasing. Consumer superannuation accounts are also increasingly being held by a smaller number of regulated superannuation funds, due ...