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Showing 201 - 210 of 305 results for "Consent"

Morrison unveils open banking framework

KARREN VERGARA  |  MONDAY, 12 FEB 2018
... innovative fintechs and get themselves a better deal," he said. Granting third-party access to a customer's data (with their consent) will enable cheaper, better-tailored products, as well as enhanced access to banking services. Morrison added it also ...

General advice "misleading": Productivity Commission

JAMIE WILLIAMSON  |  WEDNESDAY, 7 FEB 2018
... financial system is motivated to keep it that way. Financial literacy of the general population is also low. Even when 'consent' has been given, there can be a clear lack of understanding of terms and conditions of consent, and the 'take it or leave ...

ClearView issues refunds over life sales misconduct

JAMIE WILLIAMSON  |  TUESDAY, 6 FEB 2018
... staff made misleading statements about the cover, premiums and impact of pre-existing conditions; failed to clearly obtain consent to purchase the cover before processing premium payments; and used pressure tactics to sell policies. In response ClearView ...

ASIC widens conflicted adviser remuneration rules

ALEX BURKE  |  THURSDAY, 7 DEC 2017
... have this discretion, we do not consider that the benefit has been given at the client's direction or with their clear consent."

Melbourne advice firm cops historic $1 million fine

JAMIE WILLIAMSON  |  MONDAY, 30 OCT 2017
A Melbourne-based financial advice firm is the first to be penalised for breaching the best interests duty, slapped with a $1 million fine by the Federal Court. NSG Services, currently named Golden Financial Group, was found on eight separate occasions ...

ANZ and ASIC settle over BBSW case

DARREN SNYDER  |  MONDAY, 23 OCT 2017
... market. This morning ASIC asked the Federal Court to stand down an impending trial for 48 hours. It will allow ANZ to consent to and progress the in-principle agreement. In a short statement ANZ said once the settlement has progressed further it will ...

QIC boosts US presence with acquisition

DARREN SNYDER  |  TUESDAY, 3 OCT 2017
QIC is expanding its global real estate operation in the US through the purchase of 10 regional shopping malls on behalf of one of the investment giant's clients. QIC acquired additional interests in its joint venture partner Forest City Enterprises ...

Aussie banks cleared of Wells Fargo-type conduct

EMMA RAPAPORT  |  WEDNESDAY, 2 AUG 2017
... insurance (CCI) as a standout product for customer complaints and at heightened risk for sale without proper informed customer consent. The audits also identified potential weaknesses in account opening and activation controls, record keeping, and change ...

Government paves the way for open banking

EMMA RAPAPORT  |  FRIDAY, 21 JUL 2017
... review by Federal Treasurer Scott Morrison yesterday, will seek to open up consumer and third party access - with consumer consent - to customer and product data traditionally held by banks. In a statement, Morrison said that giving Australian consumers ...

Sydney RE to pay for false ads

JAMIE WILLIAMSON  |  MONDAY, 17 JUL 2017
The Federal Court of Australia penalised a Sydney-based managed investment services boutique for falsely claiming that its projects were approved by ASIC. Huntley Management operates as a responsible entity and custodian for registered schemes and as ...