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Showing 81 - 90 of 612 results for %22Consumer Choice%22

COVID-19 spurs robo-advice demand

KARREN VERGARA  |  TUESDAY, 23 MAR 2021
The global pandemic has not only changed the way consumers buy goods and services, but also spurred stronger demand for robo-advice to help improve their financial wellbeing, a new survey finds. Software firm Oracle's Money and Machines 2021 report ...

Banks still failing customers after Royal Commission

ELIZA BAVIN  |  TUESDAY, 16 MAR 2021
... is occurring as crossbench senators in the federal government are amid deciding on a government proposal to roll back consumer protections. "The banks promised they'd clean up their act after the shame of the Royal Commission hearings but over 31,000 ...

Remediation services profiting from Royal Commission failures

ELIZABETH MCARTHUR  |  THURSDAY, 11 MAR 2021
... the legislation. In December 2020, ASIC released a consultation paper on updating its regulatory guide in relation to consumer remediation. At the time, the regulator was monitoring over 100 remediations that could see $3.55 billion returned to over ...

Government passes advice, super reforms

ANNABELLE DICKSON  |  FRIDAY, 26 FEB 2021
... system". CHOICE's finance policy adviser Patrick Veyret agreed and welcomed the legislation, saying it should improve consumer outcomes in the financial advice industry. "This reform adds much needed transparency to the deduction of advice fees. ...

ASIC zeroes in on bad SMSF advice, conduct

KARREN VERGARA  |  TUESDAY, 23 FEB 2021
... From 1 January 2021, ASIC was given more powers in super under the SIS Act, having an expanded remit to better promote consumer protection, market integrity, disclosure as well as maintain reports. Working closely together, she said, the key priorities ...

Wage subsidy needed for new entrants: AFA

JAMIE WILLIAMSON  |  THURSDAY, 4 FEB 2021
... institutions, and argued that small, individual advice businesses should not be footing the bill. "Many of the advisers have no choice but to pass on any increases in regulatory fees to their clients, which continues to increase the cost of advice and ...

Regulators alert trustees of new obligations

KARREN VERGARA  |  TUESDAY, 15 DEC 2020
... significant preparation is needed by RSE licensees ahead of this date, Press warned. These obligations apply to trustees' choice product offerings and how they are designed for a targeted set of consumers. Trustees must review the target market determination ...

Best super, pension fund revealed

JAMIE WILLIAMSON  |  THURSDAY, 3 DEC 2020
... editor-at-large Julia Newbould said. Bendigo Smartstart Super Pension was named best-value retirement product, beating out ANZ Smart Choice Pension and GESB Retirement Income Allocated Pension. Rest was awarded best value balanced product and QSuper ...

RC recommendations closer to legislation

KARREN VERGARA  |  FRIDAY, 13 NOV 2020
... from harm and market misconduct. APRA and ASIC will share the general administration of SIS Act provisions which has consumer protection and member outcomes as their touchstone. These co-regulated provisions are either civil penalty provisions or provisions ...

AIST pokes holes in Your Super, Your Choice

JAMIE WILLIAMSON  |  THURSDAY, 12 NOV 2020
The Australian Institute of Superannuation Trustees has criticised the government's Your Super, Your Choice reforms, saying they fail to protect existing members in underperforming funds. Outlining its view of the reforms, AIST pointed out the need ...