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Showing 1551 - 1560 of 7383 results for "Consumer"

Personal finance app retires Australian business

KARREN VERGARA  |  TUESDAY, 15 DEC 2020
... executive director for Australia Ross Sharrott blamed rising costs, the impact of COVID-19 and limitations of Australia's Consumer Data Rights (CDR) rules that stifled participation for fintechs. "We saw from first-hand experience that the current ...

Regulators alert trustees of new obligations

KARREN VERGARA  |  TUESDAY, 15 DEC 2020
The financial services and superannuation regulators have expressed their expectations to trustees on the new member outcomes, and product design and distribution obligations. In a letter to trustees co-signed by APRA deputy chair Helen Rowell and ASIC ...

Investment scams most profitable

ELIZA BAVIN  |  TUESDAY, 15 DEC 2020
Australians falling victim to scams rose around 20% in November, with investment scams taking the most money from consumers at around $9.5 million, according to the ACCC. In November, money lost to all types of scams rose to $18.7 million, up 20.2% ...

ACCC gives IOOF go ahead

ANNABELLE DICKSON  |  TUESDAY, 15 DEC 2020
The Australian Competition and Consumer Commission (ACCC) has given its blessing for IOOF to acquire MLC Wealth as the combined firm will face competition in all aspects of wealth management. The consumer watchdog said it does not oppose IOOF's $1.4 ...

ASIC explores value for money in default group insurance

ELIZABETH MCARTHUR  |  MONDAY, 14 DEC 2020
ASIC has published a new report, aiming to determine whether consumers are receiving value for money in default insurance in superannuation. Report 675 Default insurance in superannuation: Member value for money explores metrics that ASIC said can help ...

Mayfair 101 heads to mediation

ELIZABETH MCARTHUR  |  FRIDAY, 11 DEC 2020
In what seems to be a win for the embattled business, the federal court has consented to Mayfair 101's request that a mediation be ordered in proceedings brought by ASIC. "Today's court outcome is a big win for our investors. This matter should have ...

Design, distribution obligations guide released

KARREN VERGARA  |  FRIDAY, 11 DEC 2020
... obligations aims to help consumers obtain appropriate financial products by requiring issuers and distributors to have a "consumer-centric approach" to the design and distribution of products. Product issuers must design financial products in a targeted ...

US regulator, states sue Facebook

JAMIE WILLIAMSON  |  THURSDAY, 10 DEC 2020
Facebook appears unfazed by antitrust lawsuits filed by 46 US states and the Federal Trade Commission seeking to force the social media giant to divest key assets, labelling the actions 'revisionist history'. The FTC and 48 Attorneys General ...

Chief economist update: Confidence unlocks Australia's virtuous cycle

BENJAMIN ONG  |  THURSDAY, 10 DEC 2020
... system, Australia now has virtually zero cases and with that, the resumption of economic activity. Not surprisingly both consumer and business confidence continued to go on the up and up. The Westpac-Melbourne Institute index of consumer surged to a ...

Government to wind up FASEA

KARREN VERGARA  |  WEDNESDAY, 9 DEC 2020
... whole have been hit with layers and layers of regulation that have increased the cost to provide advice without any clear consumer benefit. While there is still much work to be done, we support moves that remove red tape for advisers and improve outcomes ...