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Showing 11 - 20 of 101 results for "Consumer Protections"

AFCA tightens wholesale investor remit

KARREN VERGARA  |  FRIDAY, 17 NOV 2023
... dispute to us, we then have to consider whether we exclude it," he said. Retail investors have the benefit of consumer protections set out in the Corporations Act. Conversely, wholesale investors do not. "Sophisticated and professional investors generally ...

Treasury unveils advice reforms draft legislation

KARREN VERGARA  |  TUESDAY, 14 NOV 2023
... contains an "important package of reforms that will start to simplify the regulatory framework without reducing consumer protections and has the support of the financial services industry". With the missing reforms to the Safe Harbour Steps, Best Interests ...

CALI takes on Life Code

CHLOE WALKER  |  THURSDAY, 28 SEP 2023
... financial services industry remains responsive to consumers' needs." Last month, the FSC added several new consumer protections to the Life Code, including the industry's first guidelines on family and domestic violence, as well as new protections in ...

ALRC to simplify, restructure advice laws

KARREN VERGARA  |  FRIDAY, 23 JUN 2023
... understand their core rights and remedies available designed for their protection and benefit. Currently, consumer protections sit within the ASIC Act and scattered across other acts. If the ALRC's recommendation is implemented, the consumer protection ...

Industry bodies respond to QAR recommendations

KARREN VERGARA  |  TUESDAY, 13 JUN 2023
... omitted large institutions from providing advice for the meantime. "The recommendations that would have slashed consumer protections for advice provided by banks, insurers and fund managers were criticised by a broad range of stakeholders, including ...

Treasury to scrap advice admin burdens, boosts intra-fund advice

KARREN VERGARA  |  TUESDAY, 13 JUN 2023
... Consultation will also consider practical policy design and implementation issues, including in relation to consumer protections," Jones said. "The government will issue its final response on the Delivering Better Financial Outcomes package later in ...

YFYS sanctions don't help existing members: ISA

CHLOE WALKER  |  THURSDAY, 27 APR 2023
... APRA-regulated funds being tested in the retirement phase from this year. "The government needs to upgrade consumer protections, so members are only stapled to the best funds, who have passed the performance tests," ISA deputy chief executive Matt Linden ...

ASIC cans Binance AFSL

KARREN VERGARA  |  TUESDAY, 11 APR 2023
... accordance with the law". "Retail clients trading in crypto derivatives are afforded important rights and consumer protections under financial services laws in Australia, including access to external dispute resolution through the Australian Financial ...

Jones to prioritise CSLR legislation

KARREN VERGARA  |  TUESDAY, 21 MAR 2023
... will prioritise the passage of the Compensation Scheme of Last Resort (CSLR) laws in a bid to strengthen consumer protections. "Right now, there are around 2000 cases on hold with the Australian Financial Complaints Authority (AFCA), awaiting passage ...

"A lawyer's picnic": QAR report slammed

JAMIE WILLIAMSON  |  THURSDAY, 9 FEB 2023
... dangerous given 60% of choice super products perform poorly and retirement products currently lack appropriate consumer protections. Under these proposals Australians will continue to miss out on the quality independent advice which would tell them to ...