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Showing 1 - 10 of 10 results for "IDR"

Super funds not ready for IDR

ELIZABETH MCARTHUR  |  FRIDAY, 3 SEP 2021
An ASIC survey of super funds about their preparedness for the new enforceable internal dispute resolution (IDR) obligations identified areas of weakness. The specific areas identified by the regulator as needing improvement include attention to governance ...

ASIC spells out IDR reporting

ANNABELLE DICKSON  |  TUESDAY, 20 JUL 2021
The corporate regulator has released the internal dispute resolution (IDR) reporting documents including a data dictionary and glossary. Financial firms across the industry will be the first to test the documents in a pilot later this year in what marks ...

Long way for super complaints overhaul

KANIKA SOOD  |  THURSDAY, 20 MAY 2021
... systems but a new ASIC survey shows many are still overshooting the 45-day deadline for resolving member complaints. The new IDR rules were set out in RG 271 introduced last July. Under it, efficient complaints handling became an obligation under the ...

Not safe to launch: APRA

HARRISON WORLEY  |  WEDNESDAY, 8 APR 2020
... the 2020 half year results process. APRA's warnings come as ratings agency Fitch downgrades the Issuer Default Ratings (IDR) ratings of Australia's big four banks and their New Zealand subsidiaries from AA- to A+. Fitch said the new ratings reflect ...

Wealth manager appoints new head of advice

HARRISON WORLEY  |  FRIDAY, 27 MAR 2020
... firm's operating subsidiary ClearView Life Assurance are stable, with the life assurance arm also receiving a BBB long-term IDR, in addition to an insurer financial strength rating of BBB+. Just days prior, it awarded a $1 billion platform mandate ...

ClearView rated stable

HARRISON WORLEY  |  FRIDAY, 20 MAR 2020
... firm's operating subsidiary ClearView Life Assurance are stable, with the life assurance arm also receiving a BBB long-term IDR, in addition to an insurer financial strength rating of BBB+. ClearView managing director Simon Swanson said the BBB issuer ...

Complainants most satisfied with life insurers

KARREN VERGARA  |  TUESDAY, 11 DEC 2018
... independent and external forum. The regulator requires financial service providers to complete the internal dispute resolution (IDR) process within an allocated timeframe: 45 days from the date the complaint is made, except for super funds which have ...

Malaysia drives growth in Shariah funds

MARK SMITH  |  MONDAY, 4 JUL 2016
Support for Shariah-compliant investment funds in Asia is on the rise, particularly in Malaysia and Indonesia, but the sector still face challenges, according to global research house Cerulli Associates. Shariah finance principles forbid the acceptance ...

ASIC clampdown on poor business models in advice

ELISE BURGESS  |  MONDAY, 14 MAR 2011
... provided. "Where inappropriate advice has been provided to clients the licensee will be required to inform clients about their IDR processes, explain how to make a complaint, promptly assess the complaint and pay compensation," said ASIC. Advisers who ...

ASIC rules to fix disputes faster

ELISE BURGESS  |  WEDNESDAY, 16 FEB 2011
... greater flexibility in settling simpler complaints with reduced paperwork obligations under the new internal dispute resolution (IDR) process. Participants will have the option to respond to complaints verbally to smaller complaints and concerns, while ...
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