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Showing 21 - 30 of 38 results for "Consumer Act"

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 ...

Chief economist update: RBA sees wages growth recovering but it's not guaranteed

BENJAMIN ONG  |  WEDNESDAY, 14 FEB 2018
The latest NAB business survey indicates that Australian business conditions and confidence started the year 2018 on a stronger footing and before the wailing on Wall Street happened in early February, providing succour to the domestic economy should ...

ANZ and Macquarie fined for cartel conduct

DARREN SNYDER  |  THURSDAY, 15 DEC 2016
... million - admitting it engaged in 10 instances of attempted cartel conduct in contravention of the Competition and Consumer Act 2010 (CCA). Macquarie will pay $6 million - admitting it engaged in eight instances of attempted cartel conduct in contravention ...

ACCC slams Macquarie and ANZ for cartel conduct

ALEX BURKE  |  FRIDAY, 25 NOV 2016
... Fixing Rate published on that day, and thus attempted to contravene the cartel provisions of the Competition and Consumer Act 2010." ANZ has admitted to 10 instances of cartel conduct; Macquarie has admitted to eight. ANZ has suggested a pecuniary penalty ...

Storm Financial investor slams court decision

ALEX BURKE  |  MONDAY, 29 AUG 2016
The joint chair of the Storm Investors Consumer Action Group has criticised the Federal Court's recent ruling against Storm Financial. Seven years after going into administration, Storm Financial has been found by the court to have provided inappropriate ...

NAB appoints independent customer advocate

KERRIE SYDEE  |  TUESDAY, 12 JUL 2016
National Australia Bank (NAB) has appointed an independent customer advocate to support its retail and small business customers in resolving serious complaints. Catherine Wolthuizen will step into the newly created banking role as NAB commits to the ...

Advisers must attend ethics classes, say ISA and AIST

JAMES FERNYHOUGH  |  WEDNESDAY, 10 SEP 2014
Financial advisers should be forced to undergo mandatory ethics classes as part of a comprehensive overhaul of the professional standards of the industry, the not-for-profit superannuation industry has argued. In a joint submission to the Parliamentary ...

Advisers to study for 200 hours under TASA

LAURA MILLAN  |  WEDNESDAY, 20 AUG 2014
... and professional responsibilities of tax financial advisers, as well as the key provisions of the Competition and consumer act 2010 focusing on misleading and deceptive conduct. Submissions to the exposure drafts close on September 19.