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Search ResultsShowing 1 - 10 of 10 results for "telephone sales"
ASIC secures $160m in remediation over junk credit insurance
ALLY SELBY  |  THURSDAY, 14 MAY 2020
... and ensure ongoing public transparency," the watchdog said. To safeguard consumers, ASIC has banned "cold-call" telephone sales of consumer credit insurance, worked with industry to incorporate a four-day deferred sales period into the Banking Code of ...
CommInsure enters guilty plea
ELIZA BAVIN  |  TUESDAY, 19 NOV 2019
... ASIC's review of the sale of direct life insurance was launched in 2018, with the regulator finding that outbound telephone sales were more commonly associated with poor sales conduct and increased risk for customers. CommInsure has been working to compensate ...
ASIC wins appeal against Westpac companies
KANIKA SOOD  |  MONDAY, 28 OCT 2019
... parties will have to make submissions and the court will decide on the declarations and orders. Westpac's telephone sales campaign The matter relates to whether or not Westpac's telephone sales campaigns amounted to advice and if that advice ...
CommInsure charged over hawking
HARRISON WORLEY  |  FRIDAY, 4 OCT 2019
... CBA said it was considering the matter and would not make any further comment, though did point out it ceased telephone sales of Simple Life insurance products issued by the Colonial Mutual Life Assurance Society (CMLA) - which trades as CommInsure - ...
ASIC moves to ban direct life cold calling
HARRISON WORLEY  |  THURSDAY, 18 JUL 2019
ASIC moved to ban the unsolicited telephone sales of life and consumer credit insurance. Consultation is open for ASIC's proposal to ban the sale of direct life and consumer credit insurance by unsolicited phone calls, in a move the corporate regulator ...
ASIC slams consumer credit failures
HARRISON WORLEY  |  FRIDAY, 12 JUL 2019
... consumers, noting CCI was sold to people despite the fact they were ineligible to claim under their policy, and added telephone sales staff use high-pressure selling and other "unfair sales practices" when selling CCI. ASIC commissioner Sean Hughes said ...
ASIC and Westpac court battle sees mixed outcome
DARREN SNYDER  |  FRIDAY, 4 JAN 2019
... 'best interests duty' introduced under the Future of Financial Advice (FoFA) reforms by conducting a telephone sales campaign recommending customers roll out of their super funds into their Westpac-related super accounts without undertaking a ...
Life insurance regulation needs government backing: Poll
KARREN VERGARA  |  WEDNESDAY, 2 MAY 2018
... includes: failing to meet community expectations and reputation risk (54%); unconscionable or misleading conduct in telephone sales (31%); and breaching the boundaries of general advice (15%). Participants also expressed support for the industry to take ...
Group insurance dominates life insurance channels: Poll
KARREN VERGARA  |  MONDAY, 29 JAN 2018
... The results counter conflicting reports from two different surveys released this month, which found online and telephone sales were the most popular ways life insurance was bought. Based on 7632 consumers polled in Roy Morgan's survey , life insurance ...
ASIC takes Westpac to court
JAMIE WILLIAMSON  |  FRIDAY, 23 DEC 2016
... a claim that BT Financial Group rejects. The court action is a result of an ASIC investigation into Westpac's telephone sales campaigns targeting superannuation members. The regulator cites 15 cases in which it alleges WSAL and BTFM provided personal ...
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