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Showing 91 - 100 of 260 results for "Australian Consumer"

RC findings bring shame on advice industry: social media

ALEX BURKE  |  TUESDAY, 17 APR 2018
Multiple social media commentators suggested the findings revealed in today's inquiry have brought shame on the financial advice industry. Today's inquiry focused largely on AMP and the 90-day exception rule which enabled the group to charge fees for ...

ASIC fees to more than double

JAMIE WILLIAMSON  |  THURSDAY, 12 APR 2018
The cost of doing business with the corporate regulator has gone up under draft legislation supporting the new funding model for ASIC, released by Treasury yesterday. Under the draft reforms, the hourly rate charged by ASIC will more than double from ...

ASIC slaps fines on Spaceship and its trustee

KANIKA SOOD  |  TUESDAY, 10 APR 2018
The corporate regulator said Spaceship's upbeat description of its growth option made "misleading claims" to attract new superannuation members. Spaceship's GrowthX option claimed to "measure companies" while in reality 79% of the fund was tracking ...

PJC doubts life insurance industry can self-regulate

KARREN VERGARA  |  WEDNESDAY, 28 MAR 2018
... the protection available to life insurance consumers is "substantially weaker" and should be aligned with Australian Consumer Law. "This leads to confusion for consumers in understanding and asserting their rights. The committee also considers that the ...

Chief economist update: She'll be right, mate!

BENJAMIN ONG  |  THURSDAY, 15 MAR 2018
... wages but as NAB explained, this is likely a reflection of the "jump in employment rather than wage growth". Australian consumer sentiment appears to have also been resilient to the increased volatility in the financial markets. Better, the Westpac/Melbourne ...

Chief economist update: Next move in rates will likely be up, but it's not certain

BENJAMIN ONG  |  WEDNESDAY, 7 MAR 2018
... growth (zero real wages growth), rising utility costs, decreasing disposable income and dwindling savings, the Australian consumer has no choice but to cut back on spending..." Add to this the increased volatility on Wall Street and Trump's foray into ...

FSC launches asset manager governance regime

ALEX BURKE  |  FRIDAY, 16 FEB 2018
In response to ongoing scrutiny into the internal governance standards of Australia's asset management industry, the Financial Services Council has commenced its Principles of Internal Governance and Asset Stewardship regime. The FSC heralded the regime ...

FSC and FOS appoint former ASX chief risk officer

ALEX BURKE  |  TUESDAY, 30 JAN 2018
The Financial Services Council and Financial Ombudsman Service named the chair of the committee tasked with overseeing the implementation of the Life Insurance Code of Practice. Anne Brown joins the Life Code Compliance Committee (LCCC) while also serving ...

Chief economist update: Consumers don't spend on confidence alone

BENJAMIN ONG  |  THURSDAY, 18 JAN 2018
... start to a calendar year since 2010." This is the first paragraph of the Westpac-Melbourne Institute report on Australian consumer sentiment that showed the index rising for the third straight month to 105.1 in January - optimists outnumber pessimists ...

Chief economist update: iPhone and Black Friday sales ring up retail registers

BENJAMIN ONG  |  FRIDAY, 12 JAN 2018
The Australian consumer is back! He, she, it, they have opened their wallets and went on a shopping binge. This, at least, is what one would conclude after seeing the Australian Bureau of Statistics' (ABS) report revealing that retail sales surged by ...