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Showing 51 - 60 of 1505 results for %22Consumer Commission%22

AustralianSuper mistake spurs call for regulatory intervention

ANDREW MCKEAN  |  MONDAY, 15 MAY 2023
... regulators, confessing to overcharging current and former members with more than one account. According to the Productivity Commission, unnecessary multiple accounts can leave someone over $50,000 worse off in retirement. The fund is aiming to return ...

ASIC, APRA reviewer deprioritised by government

JAMIE WILLIAMSON  |  WEDNESDAY, 10 MAY 2023
... of companies and other legal vehicles, including trusts, and $5 million over five years to continue a superannuation consumer advocate to improve members' outcomes. This consumer advocate measure will be offset by an increase in the Superannuation Supervisory ...

Funding boosts ASIC greenwashing remit

KARREN VERGARA  |  TUESDAY, 9 MAY 2023
... The majority ($58m) will help establish the National Anti-Scam Centre within the Australian Competition and Consumer Commission to improve scam data sharing across governmen

Courtenay House affiliate faces prison

CHLOE WALKER  |  TUESDAY, 9 MAY 2023
Former Courtenay House Investments contractor and promoter Athan Papoulias has been sentenced to two years' jail time for his role in the unlicensed financial services business. As part of his sentence, Papoulias will also complete 120 hours of community ...

Adopt QAR recommendations now: Levy

CASSANDRA BALDINI  |  TUESDAY, 2 MAY 2023
... who scrutinised her proposals following the report's release to industry in February. She specifically referred to consumer bodies who responded by calling the report a "disaster" and said the recommendations would lead to the next Royal Commission. ...

ASIC cans Binance AFSL

KARREN VERGARA  |  TUESDAY, 11 APR 2023
... clients in 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 ...

RBA steadies cash rate, flags more hikes

KARREN VERGARA  |  WEDNESDAY, 5 APR 2023
... on average at 4%. Most of the panel agreed that it will peak between April and July this year. Graham Cooke, head of consumer research at Finder, said if the cash rate was to peak at 4%, that will equate to $15,000 more in interest on the average home ...

Jones to prioritise CSLR legislation

KARREN VERGARA  |  TUESDAY, 21 MAR 2023
... Jones flagged he 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) ...

Court fines ANZ for dodgy introducer program

KARREN VERGARA  |  MONDAY, 13 MAR 2023
ANZ has copped a $10 million penalty for its home loan referral program that breached consumer credit protection laws. The Federal Court found that the bank's Home Loan Introducer Program enabled unlicensed third parties to refer customers to ANZ for ...

Dodgy advice bill nears $5bn: ASIC

CASSANDRA BALDINI  |  FRIDAY, 10 MAR 2023
Providing its final update on institutions' financial advice remediation programs, ASIC calculated AMP, ANZ, Commonwealth Bank (CBA), Macquarie, NAB and Westpac have so far paid a combined $4.7 billion. The remediation programs included in ASIC's update ...