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The Code The New Energy Tech Consumer Code (NETCC) sets a minimum standard of service for retailers providing residential and small customers with new energy tech products, systems and services. New energy tech providers that have been admitted by the Administrator into the NETCC program are bound as Signatories to comply with the NETCC when…

Read More Consumer representative opportunity – Join the New Energy Tech Consumer Code Monitoring and Compliance Panel

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A recent ASIC surveillance found that some fund managers must do more to ensure the investment performance representations in their fund’s marketing materials are appropriate.    This is a media release from the Australian Securities & Investments Commission (ASIC). It was originally published on 8th September, 2022. Thirteen responsible entities or trustees of investment funds have voluntarily…

Read More Managed funds amend their marketing following ASIC surveillance

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CHOICE travels to the remote Indigenous community of Wujal Wujal in Far North Qld to investigate dodgy motor vehicle sales. Cedric Friday says that every time he looks at his broken-down Holden Captiva it makes him angry. The second-hand car that he and his brother-in-law spent $19,000 on sits immovable in his driveway. This is…

Read More Remote Indigenous communities left with broken cars and no redress

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Australians are facing the perfect storm for increased financial insecurity in the next 12 months, making them vulnerable to dodgy insolvency advice. On the back of a tough few years of fire, drought, flood and the pandemic, rising interest rates and cost of living pressures mean that more Australians may struggle to pay their bills…

Read More Worried about debt? Talk to your bank or creditors and avoid dodgy advice, warns AFSA

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The state’s economic regulator today released updated water industry standards, strengthening support and protections for Victorian consumers, particularly those facing financial difficulties. This is a media release from the Essential Services Commission. It was originally published on 27th September, 2022. The Essential Services Commission’s water industry standards set out the minimum service requirements water businesses must meet, covering…

Read More New protections for Victorian water customers

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The Australian Securities and Investment Commission (ASIC) has today published updated and revised remediation guidance for financial firms with the goal of treating wronged customers fairer and ensuring they repay losses companies have caused in a timelier fashion.  This is a media release from Consumer Action Law Centre (CALC). It was originally published on 27th September, 2022. Consumer Action…

Read More People should get their money back quicker and more easily following new ASIC guidance, say consumer advocates

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Following its decision to require grocery retailers to provide consumers with unit pricing (pricing per unit of measure), the NZ government recently released a wide ranging Discussion Paper seeking views on many aspects of unit pricing, including system design, scope and implementation, prior to releasing draft legislation. It is now considering submissions received. The system…

Read More Australians make submissions on proposed NZ grocery unit pricing system

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ASIC’s review of nearly 4800 individual disability income insurance (IDII) claims received between 1 January and 30 June 2021 has found more work is needed by insurers to ensure that consumers are protected from unfair practices in non-disclosure investigations and physical surveillances. As a result of ASIC’s review, some life insurers have made improvements to…

Read More ASIC review finds room for improvement remains with life insurance claims handling