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Showing 1 - 10 of 101 results for "Consumer Protections"

ASIC cancels AFSL of JB Markets

ELIZA BAVIN  |  TUESDAY, 23 APR 2024
... their business in compliance with financial services laws," ASIC said. "The requirements provide important consumer protections in seeking to reduce the risk of a disorderly wind-up, in the event the business fails." JB Markets had held its AFSL since ...

Why aged care advice needs tougher regulation

KARREN VERGARA  |  WEDNESDAY, 10 APR 2024
... to a prevalence of superficial, often conflicted advice, no regulatory oversight, and a lack of essential consumer protections, which may place the client at substantial risk and lead to decisions that are not well-informed." The consultation will also ...

Super advice fee deductions compound red tape: JAWG

KARREN VERGARA  |  MONDAY, 8 APR 2024
... when it comes to setting up an ongoing adviser arrangement with trustees to pay for advice and no additional consumer protections, when the overarching objective of the bill is to lessen compliance and administrative burdens. In introducing the bill ...

Court dismisses ASIC lawsuit against Finder

KARREN VERGARA  |  FRIDAY, 15 MAR 2024
... being offered without the appropriate licence or authorisation and therefore without the benefit of important consumer protections." Justice Markovic concluded that "ASIC has not established that the Finder Earn product is a debenture within the meaning ...

Super funds in pole position for expanded advice

KARREN VERGARA  |  MONDAY, 26 FEB 2024
... Nguyen said stricter rules on the banks will mean managing of conflicts of interest and keeping on top of consumer protections. "Banks could face increased customer dissatisfaction and litigation, if the quality and suitability of the advice provided ...

Too many Aussies eligible for wholesale products: FSC

ANDREW MCKEAN  |  TUESDAY, 13 FEB 2024
... nearly one-fifth of Australian households will become eligible to purchase wholesale products without retail consumer protections. Accordingly, the research, undertaken by PwC and Data Analysis Australia, called for a review of wholesale investor "individual ...

ASIC extends intervention orders against predatory lenders

CHLOE WALKER  |  MONDAY, 8 JAN 2024
... charged significant fees, which further burdened them. "Since the orders came into effect, they have reinforced consumer protections by preventing the provision of short-term credit and continuing credit contracts that involve unreasonably high fees," ...

UK to overhaul advice affordability, access

KARREN VERGARA  |  TUESDAY, 12 DEC 2023
... market to new forms of advice and support, driving competition to better serve consumers, while maintaining consumer protections," the FCA said. "The aim is to open up the market to a wider range of advice and support, while supporting the UK investments ...

A third of Aussies want life insurance advice: Research

CHLOE WALKER  |  THURSDAY, 7 DEC 2023
... protection and certainty people need. "Of course, this should only happen with appropriate limitations and strong consumer protections to ensure better outcomes for Australian workers and their families," Cupitt said. "Life insurers take their legal ...

Final QAR reforms open door to super funds

CASSANDRA BALDINI  |  THURSDAY, 7 DEC 2023
... under a single uniform quality standard, while additional guardrails will be implemented to establish strong consumer protections for the new advisers. This includes imposing extra obligations on AFSLs and enacting legislated minimum competency standards ...
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