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Search ResultsShowing 1 - 10 of 20 results for "Karen Chester"
ASIC lays out product intervention plans
HARRISON WORLEY  |  THURSDAY, 18 JUN 2020
... consultation before going on to make an entirely different order based on the consultation process. ASIC deputy chair Karen Chester said the power is an "incredibly important" addition to the regulator's toolbox. "It allows us to intervene where we are ...
ASIC secures $160m in remediation over junk credit insurance
ALLY SELBY  |  THURSDAY, 14 MAY 2020
... Commonwealth Bank, Credit Union Australia, Latitude Finance Australia, NAB, Suncorp-Metway and Westpac. ASIC deputy chair Karen Chester said the investigation of major banks and lenders uncovered the design and sale of consumer credit insurance consistently ...
ASIC delivers thinly veiled warning
ELIZABETH MCARTHUR  |  FRIDAY, 8 MAY 2020
... ASIC fears. The regulator made no specific mention of Mayfair 101 in the warning to consumers. ASIC deputy chair Karen Chester warned consumers that if an investment product promises higher returns than a term deposit then it probably also carries higher ...
Consultation opens for design, distribution guidance
HARRISON WORLEY  |  FRIDAY, 20 DEC 2019
... fundamental business considerations for firms, their boards and ultimately their shareholders," ASIC deputy chair Karen Chester said. Chester added that the obligations - which require firms to design products meeting the needs of the consumers within ...
Remediation bill tops $10b: ASIC
ELIZA BAVIN  |  MONDAY, 18 NOV 2019
... been returned to 1.2 million consumers. Speaking at the FINSIA: The Regulators 2019 conference, ASIC deputy chair Karen Chester said "doing the right thing", particularly when dealing with non-financial risks, is a commercial "must have". "Fairness ...
ASIC product intervention to commence
JAMIE WILLIAMSON  |  THURSDAY, 27 JUN 2019
... product intervention power is an incredibly important addition to ASIC's regulatory toolkit, ASIC deputy chair Karen Chester said. "ASIC can now step in and respond to significant consumer detriment in a targeted and timely way. But there are also important ...
ASIC to strengthen complaints handling
ELIZABETH MCARTHUR  |  THURSDAY, 16 MAY 2019
... under legislation to have an internal dispute resolution system that meets strict ASIC standards. ASIC deputy chair Karen Chester said: "It is widely acknowledged there is room for much improvement when it comes to handling consumer complaints in our ...
Citi to pay $3m in advice remediation
HARRISON WORLEY  |  TUESDAY, 16 APR 2019
... released a report saying consumers are confused by the different types of financial advice . ASIC deputy chair Karen Chester said the gap in understanding meant many consumers were under the false premise their interests were being prioritised, "when ...
Consumers confused by general, personal advice
ELIZABETH MCARTHUR  |  FRIDAY, 29 MAR 2019
... between 'general' and 'personal' advice, putting them at risk of making poor financial decisions. ASIC deputy chair Karen Chester said: "This disturbing gap in understanding whether the advice they are getting is personal or not means many consumers ...
ASIC appoints second deputy chair
KARREN VERGARA  |  FRIDAY, 7 DEC 2018
... replace Peter Kell , who finished up yesterday. Outgoing Productivity Commission deputy chair and commissioner Karen Chester will commence on 28 January 2019 for a five-year period. Chester was appointed as a commissioner at the Productivity Commission ...
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