Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 11 - 20 of 30 results for "Hawking"

CommInsure cops $700k hawking fine

HARRISON WORLEY  |  THURSDAY, 28 NOV 2019
CommInsure has been fined $700,000 after pleading guilty to hawking offences. The Colonial Mutual Life Assurance Society - a Commonwealth Bank subsidiary trading as CommInsure - has been convicted of 87 counts of offering to sell insurance products ...

CommInsure enters guilty plea

ELIZA BAVIN  |  TUESDAY, 19 NOV 2019
CommInsure has pleaded guilty to 87 hawking offences. ASIC announced that Colonial Mutual Life Assurance Society, trading as CommInsure, has entered a guilty plea for 87 counts of offering to sell insurance products in the course of unlawful, unsolicited ...

CommInsure charged over hawking

HARRISON WORLEY  |  FRIDAY, 4 OCT 2019
... customer database. ASIC believes the calls to CBA's customers were therefore unsolicited, and thus a contravention of the hawking exceptions in section 992A(3) of the Corporations Act on the part of CommInsure. Each charges carries a maximum penalty ...

ASIC clamps down on poor advice, grandfathered commissions

KARREN VERGARA  |  WEDNESDAY, 28 AUG 2019
... proposed conduct accountability regime, single default account, advice fee deductions from superannuation accounts and anti-hawking prohibitions.

Peak bodies respond to government roadmap

KRISTI CHENG  |  TUESDAY, 20 AUG 2019
... as well as the "worst practices" among banks and other for-profit entities. This includes the recommendation to ban the hawking of super products, such as the upselling of super along with the sale of bank products, she said. Industry Super Australia ...

Ban unsolicited life insurance sales: Poll

KARREN VERGARA  |  MONDAY, 29 JUL 2019
... or distributors. Consultation is open until August 29. ASIC also intends to review guidance in Regulatory Guide 38 The hawking provisions later this year. This week's spot poll asks if you support the increases to the Superannuation Guarantee.

Standard Life Assurance fined for hawking non-advised annuities

KARREN VERGARA  |  WEDNESDAY, 24 JUL 2019
Standard Life Assurance has been slapped with a £30.8 million ($54.9m) fine by the UK regulator for hawking non-advised annuities. The Financial Conduct Authority found SLA offered its call centre staff "significant bonuses and rewards" if they exceeded ...

Consumers confused by general, personal advice

ELIZABETH MCARTHUR  |  FRIDAY, 29 MAR 2019
... whilst the Financial Services Royal Commission, and the Government's response, dealt with the most egregious risks of hawking of complex financial products, consumer confusion about what is personal and general advice needs to be addressed." The report ...

Labor responds to Royal Commission final report

JAMIE WILLIAMSON  |  MONDAY, 25 FEB 2019
... said. The Government has said it will look to ban the payments from 1 January 2021. The party will also look to end the hawking of life insurance products and to ensure there are consequences when big banks breach industry codes, as well as ban life ...

Clearview overhauls life insurance premiums

KARREN VERGARA  |  WEDNESDAY, 20 FEB 2019
... maximum of 10% plus CPI increases, Clearview said. Commissioner Kenneth Hayne said in his final recommendations that the hawking of insurance products should be prohibited. He observed that the "watered-down anti-hawking requirement has seen unsolicited ...