Search ResultsShowing 1 - 10 of 19 results for "Sean Hughes"
ASIC bans direct life cold calling
HARRISON WORLEY  |  WEDNESDAY, 4 DEC 2019
... stop practices that lead to poor consumer outcomes and destroy trust in the financial system," ASIC commissioner Sean Hughes said. "This action draws a clear line in the sand. From January firms will no longer be able to call consumers out of the blue ...
TPD riddled with issues: ASIC
ELIZA BAVIN  |  THURSDAY, 17 OCT 2019
... insurers lacked clear key claims data to help them effectively manage the risk of consumer harm. ASIC Commissioner Sean Hughes said the regulator found it alarmingly that three TPD claims a day are assessed under the restrictive 'activities of daily ...
Former NAB adviser sentenced
HARRISON WORLEY  |  TUESDAY, 8 OCT 2019
... clients and withdrew their funds from those accounts, impersonating his clients in the process. ASIC commissioner Sean Hughes said Eung's actions amounted to a breach of client trust for his own advantage. "Mr Eung was trusted by his clients to manage ...
ASIC casts doubt over Dollarmites
ELIZABETH MCARTHUR  |  TUESDAY, 1 OCT 2019
... and needs to be - and there is a long history of school banking programs in Australian schools," ASIC commissioner Sean Hughes said. As CBA's Dollarmites is the most prolific of the programs in question, it is sure to attract some comments from concerned ...
ASIC prepares to be primary super conduct regulator
ELIZABETH MCARTHUR  |  THURSDAY, 12 SEP 2019
ASIC commissioner Sean Hughes has made it clear the regulator is already positioning itself to be the primary conduct regulator in superannuation. Speaking at a Risk Management Association Australia event yesterday, Hughes said ASIC's role in regulating ...
Court dismisses Westpac lending practice case
KARREN VERGARA  |  THURSDAY, 15 AUG 2019
... other expenses including the repayments under proposed loan) was a measure of suitability, Perram said. Commissioner Sean Hughes commented ASIC took on the case against Westpac because it needed judicial clarification on a legal obligation on lenders. ...
ASIC moves to ban direct life cold calling
HARRISON WORLEY  |  THURSDAY, 18 JUL 2019
... intended to restrict outbound sales of life and funeral insurance in an effort to protect consumers. ASIC Commissioner Sean Hughes said the corporate regulator was determined to step in when consumer trust in "the system" was under threat. He added ASIC ...
AFCA delivers $83 million win
ELIZABETH MCARTHUR  |  MONDAY, 15 JUL 2019
... voluntarily cancelled their licences and 48 credit licensees were cancelled or suspended by ASIC. ASIC commissioner Sean Hughes said: "ASIC has taken proactive measures to protect consumers from those few financial services licensees and credit licensees ...
ASIC slams consumer credit failures
HARRISON WORLEY  |  FRIDAY, 12 JUL 2019
... telephone sales staff use high-pressure selling and other "unfair sales practices" when selling CCI. ASIC commissioner Sean Hughes said the corporate regulator was "deeply troubled" by the findings in the report, which included the likes of Commonwealth ...
ASIC outlines enforcement efforts
ELIZABETH MCARTHUR  |  WEDNESDAY, 10 APR 2019
... current systems, policies and procedures. Findings must be reported back to ASIC with nine months. ASIC commissioner Sean Hughes said the court found after a six week contested trial : "Westpac traded with the dominant purpose of manipulating the benchmark ...
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