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Showing 471 - 480 of 3579 results for "Consumers"

FPA voices concern on proposed CSLR, FAR laws

ANDREW MCKEAN  |  FRIDAY, 10 MAR 2023
... scope, moral hazard, and cost implications for members. "An effective CSLR will promote trust in financial advice among consumers - by ensuring that if retail consumers have lost money due to poor advice, there is a compensation mechanism available," ...

Dodgy advice bill nears $5bn: ASIC

CASSANDRA BALDINI  |  FRIDAY, 10 MAR 2023
... in return," said Press. "The subsequent programs have resulted in very significant remediation payments to affected consumers." ASIC warned it will continue to monitor the implementation and finalisation of remaining programs.

Review of managed investment schemes kicks off

JAMIE WILLIAMSON  |  THURSDAY, 9 MAR 2023
... identifying opportunities to eliminate fringe operators that damage the reputation of the broader industry and pose risks to consumers." He added: "The MIS Review is right not to focus on whether the managed investment schemes should be brought within ...

Government introduces FAR, CSLR Bills

ANDREW MCKEAN  |  WEDNESDAY, 8 MAR 2023
... executives. By introducing a strengthened accountability framework, the FAR seeks to prevent misconduct that may harm consumers and the financial system. The FAR imposes four key sets of obligations, including accountability, key personnel, deferred ...

Advice complaints decelerate: AFCA

KARREN VERGARA  |  WEDNESDAY, 8 MAR 2023
... understand Statements of Advice (SOA), and to provide them with clarity in documentation in "plain English ensuring consumers understand the type of advice it's provided". Singh raised an interesting point with respect to the proposed SOA changes ...

QAR does not "trash" FoFA: Anderson

CASSANDRA BALDINI  |  TUESDAY, 7 MAR 2023
... research conducted by ASIC questions its value, Anderson explained. "Clearly long and complex SoAs are not good for consumers and a different solution needs to be found," he added. Finally, he said, redefining the Best Interest Duty (BID) and removing ...

Expect more greenwashing action: ASIC

RACHEL ALEMBAKIS  |  FRIDAY, 3 MAR 2023
... would see in infringement notices." Elsewhere in the speech, Longo referenced a survey of more than 1000 Australian consumers about understanding and expectations around cyber security and identifying companies' ESG credentials, noting that only ...

Chalmers' promise to end super wars foiled by criticism

ANDREW MCKEAN  |  THURSDAY, 2 MAR 2023
... threshold dropping in real terms and affecting many, many more Australians." Meanwhile, industry bodies, including Super Consumers Australia, the Australian Institute of Superannuation Trustees (AIST) and Financial Services Council (FSC) welcomed the ...

Super tax break crackdown to hit $410bn in savings

ANDREW MCKEAN  |  WEDNESDAY, 1 MAR 2023
... taxation subsidies, the political fight they could ignite might not be worth it, he added. Industry bodies, including Super Consumers Australia, the Australian Institute of Superannuation Trustees (AIST) and Financial Services Council (FSC) welcomed ...

Advice group convicted of hawking

JAMIE WILLIAMSON  |  WEDNESDAY, 22 FEB 2023
National Advice Solutions was convicted in a Queensland court for cold-calling consumers and trying to convince them to switch their super fund, copping a $70,000 fine. National Advice Solutions' AFSL was cancelled in December and its two responsible ...