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Showing 151 - 160 of 241 results for "OMB"

Small advice firms face big data breach penalties

KARREN VERGARA  |  WEDNESDAY, 31 JAN 2018
Small financial advice practices that breach new cybersecurity laws coming into effect next month can face penalties of up to $1.8 million. The stark warning comes from the Australian Small Business and Family Enterprise Ombudsman, which is urging small ...

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 ...

AFCA, key housing bills passed

EMMA RAPAPORT  |  THURSDAY, 7 DEC 2017
A number of new measures that will dramatically impact the way consumers interact with the financial services industry have cleared both houses of parliament. The Australian Financial Complaints Authority (AFCA), announced in this year's Federal Budget ...

Federal Government names Royal Commission lead

JAMIE WILLIAMSON  |  MONDAY, 4 DEC 2017
The Federal Government will recommend a former High Court judge lead the Royal Commission into the banking, superannuation and financial services industry. Prime Minister Malcolm Turnbull, in a joint statement with Attorney-General George Brandis and ...

O'Dwyer urges AFCA consultation

KARREN VERGARA  |  FRIDAY, 3 NOV 2017
The Revenue and Financial Services Minister today welcomed a consultation paper on the terms of reference, governance and funding arrangements for the Australian Financial Complaints Authority (AFCA). AFCA, expected to operate as of 1 July 2018, is ...

FS Live Blog: 2017 AFA National Adviser Conference

MICHELLE BALTAZAR  |  TUESDAY, 10 OCT 2017
Check out this blog to get an hourly update on the latest announcements, session highlights and social media commentary live at the AFA 2017 National Adviser Conference. 10.30pm - AFA caps its annual conference with an awards gala ceremony for the 2017 ...

NAB launches customer chatbot app

KARREN VERGARA  |  FRIDAY, 6 OCT 2017
NAB is ramping up its virtual assistance technology with the launch of a new customer banking voice-based app. Customers owning a smartphone with Google Assistant or a Google Home device can use the Talk to NAB app to ask general banking questions such ...

Life insurance complaints down: FOS

JAMIE WILLIAMSON  |  FRIDAY, 6 OCT 2017
Disputes surrounding investments, advice and life insurance accounted for 9% of all disputes accepted at the Financial Ombudsman Service of Australia last financial year. In its annual report FOS outlined that of the 22,475 disputes it accepted over ...

Industry body questions AFCA funding model

EMMA RAPAPORT  |  THURSDAY, 28 SEP 2017
Funding of the newly established Australian Financial Complaints Authority must be fairly distributed across the financial services industry to reflect the accountability of each sector. In its submission to the Senate Standing Committee on Economics ...

Xenophon team introduce unpaid super Bill

KARREN VERGARA  |  MONDAY, 11 SEP 2017
A Bill that's aligning super guarantee payments to the wage cycle, abolishing the monthly $450 threshold, and granting the Fair Work Ombudsman greater power to recoup unpaid super has been introduced in Parliament. Rebekha Sharkie, federal member for ...