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Showing 571 - 580 of 3579 results for "Consumers"

Focus on providing 'good advice': QAR draft proposals

JAMIE WILLIAMSON, CASSANDRA BALDINI  |  MONDAY, 29 AUG 2022
... interests duty, saying "evidence suggests the best interests duty has not been more effective than disclosure in protecting consumers from poor advice." Instead, there should be a focus on providing 'good advice'; "A duty to give good advice ...

ASIC tells super trustees to improve TMDs

ANDREW MCKEAN  |  MONDAY, 29 AUG 2022
... clearly define intended target markets against the product and its key attributes. Also, when describing classes of consumers as being 'potentially in the target market,' sufficiently cover the factors indicating product suitability for the relevant ...

MobiSuper, licensee to pay $250k penalty

JAMIE WILLIAMSON  |  MONDAY, 29 AUG 2022
... customers and provided personal advice without acting in the customers' best interests and failed to warn those consumers that the advice was based on incomplete or inaccurate information. The phone calls in question took place in October and November ...

Remediation bills revealed amid call for levy freeze extension

JAMIE WILLIAMSON  |  WEDNESDAY, 24 AUG 2022
Six of the largest financial institutions have paid or offered a total of $3.6 billion in compensation to consumers over fees for no service and non-compliant advice. The new stats come as the Financial Planning Association of Australia calls for an ...

ASIC highlights strategic priorities

CASSANDRA BALDINI  |  TUESDAY, 23 AUG 2022
... highlighted four strategic priorities. One of its primary focuses is retirement decision making, it said, looking to protect consumers, especially as they plan and make decisions for retirement, with a focus on superannuation products, managed investments ...

Crypto asset reforms underway: Treasurer

ANDREW MCKEAN  |  MONDAY, 22 AUG 2022
... Australia's regulatory system manages crypto assets, to keep up with developments and provide greater protections for consumers," Chalmers, Jones and Leigh said. "Australians are experiencing a digital revolution across all sectors of the economy, but ...

Most retirees want pension support through super: Report

CASSANDRA BALDINI  |  TUESDAY, 16 AUG 2022
... how retirees can best manage their superannuation in retirement, supporting ASIC's findings that over one-third of consumers want advice on retirement income planning. "Retirees are clearly concerned about missing out and fear not being able to sustain ...

CSLR establishment is critical: FPA

CHLOE WALKER  |  FRIDAY, 12 AUG 2022
... "This would leave financial planners to foot most of the bill for a scheme that would have left the majority of affected consumers unprotected." At present there is $3.7 million in unpaid AFCA determinations relating to financial advice due to insolvency ...

US inflation drops to 8.5%

CASSANDRA BALDINI  |  THURSDAY, 11 AUG 2022
... of the index, also continued to rise and are up 5.7% over the past 12 months. The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in July on a seasonally adjusted basis after rising 1.3% in June. Apostle portfolio manager Steven Spearing ...

What the QAR should focus on: MLC Life

CASSANDRA BALDINI  |  TUESDAY, 9 AUG 2022
... insurance, this could be as simple as a life cover assessment that may or may not include a product recommendation. Despite consumers calling out for this style of advice, current regulation and guidance makes this difficult in practice, with often the ...