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Showing 11 - 20 of 35 results for "Consumer Act"

Global stocks plunge as COVID-19 fear accelerates, oil crashes

ALLY SELBY  |  TUESDAY, 10 MAR 2020
Global markets, already feeling the burn from the spreading COVID-19 virus, have tumbled further, after Saudi Arabia sparked an oil price war which saw oil futures plunge more than 30%. Nearly $140 billion was wiped from the S&P/ASX 200 yesterday, as ...

No one reads the PDS: ASIC

ELIZABETH MCARTHUR  |  TUESDAY, 15 OCT 2019
ASIC is calling time on the financial services industry's reliance on disclosure as the default consumer protection, saying it enables poor conduct and poor consumer outcomes. The regulator said disclosures have been assumed to inform consumers to make ...

ACCC to probe rate cut decisions

HARRISON WORLEY  |  MONDAY, 14 OCT 2019
... to customers will also be probed. The ACCC said that by holding an inquiry under Part VIIA of the Competition and Consumer Act (2010), it was able to compel financial institutions to divulge specific information about their decision making processes ...

FASEA welcomes new directors

HARRISON WORLEY  |  MONDAY, 8 APR 2019
The government body overseeing the rising education standards in financial advice is welcoming new directors to its board. Australian Financial Complaints Authority board member Elissa Freeman and former Financial Planning Association of Australia director ...

Super funds defend $5bn infrastructure investment

DARREN SNYDER  |  TUESDAY, 11 DEC 2018
... seeking declarations that the compensation provisions in the 2013 Port Commitment Deeds contravene the Competition and Consumer Act 2010 (CCA); injunctions restraining the operators of Port Botany and Port Kembla from seeking compensation under these ...

Chief economist update: BOJ on a steady

BENJAMIN ONG  |  TUESDAY, 30 OCT 2018
The Bank of Japan (BOJ) starts its two-day monetary policy meeting today and it's not about to give financial markets a Halloween spook when it announces the policy board's decision tomorrow. Monetary policy settings will remain unchanged - ...

Industry fund members more satisfied

KARREN VERGARA  |  TUESDAY, 2 OCT 2018
Despite the flak the superannuation industry has received from the Royal Commission, industry fund members are more satisfied with their fund than retail members. This is according to a survey of 50,000 participants conducted Roy Morgan, which pitted ...

Industry stakeholders welcome PC report

JAMIE WILLIAMSON  |  WEDNESDAY, 30 MAY 2018
The Financial Services Council welcomes key recommendations made in the Productivity Commission's assessment of superannuation efficiency and competitiveness. It agrees consumer outcomes could be significantly improved. A central finding of the PC report ...

Social media singles out ASIC in Royal Commission coverage

ALEX BURKE  |  MONDAY, 16 APR 2018
ASIC was a specific target by social media commentators during the first round of hearings for the Royal Commission into Australia's biggest providers of financial advice. Commentators on Twitter were broadly critical of ASIC's attempts to police and ...

ASIC closes doors on Storm charges with two fines

ALEX BURKE  |  FRIDAY, 23 MAR 2018
Nearly a decade after ASIC began its investigation into Storm Financial, two directors have been fined $70,000 each for breach of duties. Emmanuel and Julie Cassimatis were previously disqualified from managing corporations for seven years. When they ...