Rod Sims, the Chair of the Independent Pricing and Regulatory Tribunal (IPART) in NSW, expressed his support for better consumer engagement in regulatory decisions and said more funding was required to help consumers participate. He noted that this was a challenge he will carry into his new role as Australian Competition and Consumer Commission (ACCC) Chair,…Read More Incoming ACCC Chair supports better funded consumer advocacy
Wondering how to fill the time while waiting for your morning coffee or sitting in traffic on the bus? Now you can check your mortgage, look at your super balance and plan your next holiday with the MoneySmart mobile app. The free mobile phone app gives you instant calculations on the go. The app includes:…Read More Money -Smart’s gone mobile
The ISO is the International Organisation for Standardisation, a worldwide federation of national standards bodies. The work of preparing international standards is normally carried out through ISO Technical Committees. The ISO has many technical committees (TCs) and TC 229 deals with nanotechnologies, the application of scientific knowledge to manipulate and control matter in the nanoscale.…Read More Nanotechnology and ISO
The Financial Ombudsman Service has today announced the appointment of Shane Tregilliss as the new Chief Ombudsman. Mr Tregillis will commence in the role in September 2011. The Chair of the Financial Ombudsman Service Michael Lavarch noted that the appointment was made following the decision of the current long serving Ombudsman Colin Neave not to…Read More New Financial Services Ombudsman appointed
After a year-long inquiry telco customer service and complaints-handling, the Australian Communications and Media Authority (ACMA) released its draft [ilink url=”http://www.acma.gov.au/WEB/STANDARD/pc=PC_312222″]Reconnecting the Customer[/ilink] (RTC) report in early June 2011. It is a well considered report based on extensive evidence-based research. Five research reports commissioned by the ACMA were launched at the same time. The ACMA’s…Read More Time’s up on telco self-regulation: ACMA to act
The South Australian Financial Counselling Association’s (SAFCA) 2011 Conference The Evolving Landscape of Financial Counselling will be held on 26 and 27 September at the Rydges South Park Hotel, Adelaide. Speakers include Dennis Nelthorpe – West Heidelberg Community Legal Service Kat Lane – Consumer Credit Legal Service NSW Mark Henley – Uniting Care Wesley Adelaide…Read More The Evolving Landscape of Financial Counselling
CFA member CHOICE is calling for better regulation of pesticides and hazardous chemicals. More than 80 chemicals and pesticides no longer registered for use in Europe are available for every day agricultural and veterinary use in Australia. If that’s not alarming enough, about 75% were included in our current system 15 years ago as a…Read More Better regulation for pesticides and hazardous chemicals
To use an American phrase – it seems like a “no brainer”. Consumer groups from around Australia are calling on the Federal Government to cap interest rates at 48%. This cap is currently in place in three jurisdictions: New South Wales, Queensland and the ACT. However credit legislation is now a Federal Government responsibility; whether…Read More 48% is Enough: Keep the Cap!
ASIC released a consultation paper 28 July 2011 proposing new guidance for people who give (financial) advice to retail clients. This builds on ASIC Regulatory Guide 200 Access to advice for super fund members (RG 200) and ASIC’s Report 224 Access to Financial Advice in Australia (REP 224) in December 2010. This report found that…Read More ASIC consultation paper on guidance for financial advisers – comment due 8 September 2011
CFA member Financial Counselling Australia today released the results of a survey of financial counsellors about their clients’ experiences with 1800 and 13/1300 numbers. Nearly every financial counsellor (98%) reported clients who have difficulty contacting services that use 1800 or 13 numbers due to the cost of the call from their mobiles. At the May…Read More Financial counselling clients suffer from timed 1800 calls
The Mutual Banking Code of Practice sets out standards of good practice for credit unions and mutual building societies. The Code Compliance Committee (CCC) has a new Executive Manager, and is conducting a number of reviews. This update also sets out current governance and investigation arrangements and provides information about this years’ annual compliance statements.…Read More What’s new with the Mutual Banking Code of Practice Code Compliance Committee?
The Financial Ombudsman Service has published its new business plan. The plan has six major objectives including to eliminate backlogs of disputes and enhance relationships with stakeholders, including consumer organisations. The [ilink url=”http://www.fos.org.au/centric/home_page/publications/business_plan.jsp”]FOS Business Plan for the 2011–2012[/ilink] financial year explains: who FOS is what FOS achieved in 2010–2011 what FOS plan to achieve in…Read More Financial Ombudsman Service – New Business Plan