Regulator news and government inquiries

//Regulator news and government inquiries

Consumer Advocate Groups welcome ACCC’s Preliminary Report on retail electricity prices

Energy Consumers Australia (ECA) and the Queensland Consumers Association (QCA) have welcomed the ACCC’s Preliminary Report for its Electricity Supply & Prices Inquiry. In his Preliminary Report, ACCC chairman Rod Sims has confirmed that the electricity market is not working as it should and not delivering good value for money outcomes for consumers. The QCA says this confirms what [...]

By | October 19th, 2017|ACCC, ACCC, Energy|0 Comments

Major NSW Ticket Scalping Reforms to Put Consumers First

Tough new ticket scalping reforms will help stamp out dodgy price gouging practices in the live entertainment industry, NSW Minister for Better Regulation Matt Kean announced today. The proposed reforms would put consumers first and stop tickets from being swept up and resold at grossly inflated prices on the secondary market. Mr Kean said the proposed [...]

By | October 9th, 2017|CHOICE|0 Comments

Action Plan to Help Indigenous Australians with Consumer Issues

Media release from the Australia Competition and Consumer Commission (ACCC).  Consumer issues including scams, unscrupulous door- to-door sellers, and discrimination in the housing market headline some of the key priority areas in the National Indigenous Consumer Strategy (NICS) Action Plan 2017–2019. NICS members are the ACCC, ASIC, state consumer affairs agencies and the Indigenous Consumer [...]

By | September 28th, 2017|ACCC|0 Comments

CHOICE Calls for Urgent Reform of Ticket Resales Industry

From CFA member CHOICE: A study of the ticket resale industry has found desperate fans are fed up with a market which uses unfair sales tactics to deliberately confuse, overcharge and hit them with sneaky fees. “From Ed Sheeran and Adele to Cirque Du Soleil and the Cricket World Cup, consumers are being hoodwinked into [...]

By | September 3rd, 2017|CHOICE|0 Comments

Car Companies Caught Refitting Lethal Airbags – CHOICE

A CHOICE investigation into the largest automotive recall in Australian history has found Toyota, Mazda, BMW, Lexus and Subaru have been refitting vehicles with potentially faulty airbags and have failed to inform consumers of the ongoing risk of death or injury. “With 2.3 million vehicles in Australia requiring their potentially lethal Takata airbags to be replaced, it’s [...]

By | July 27th, 2017|CHOICE, Motor vehicles|0 Comments

Federal Government Silent on Debt Vulture Warnings

It has been eighteen months since the Australian Securities and Investments Commission (ASIC) warned the Federal Government that so-called "debt management" firms are engaging in misleading and predatory conduct. The Consumer Action Law Centre wrote to the Federal Government shortly afterwards, calling for better regulation in the sector, but have yet to receive a response. [...]

By | July 25th, 2017|ASIC, Everyday Consumer, Finance|0 Comments

ASIC Taskforce Signals Shift from Self-Regulation in Finance Industry

The Australian Securities and Investments Commission (ASIC) Enforcement Review Taskforce is conducting consultations on a number of proposed reforms to improve the enforcement powers of ASIC. The Taskforce  has just released a series of consultation papers. Recent media reports and Parliamentary inquiries have revealed the impact that poor financial services practices have on people's lives, leading to intense regulatory scrutiny and reduced consumer confidence. One of the key [...]

By | July 10th, 2017|ASIC, Finance|0 Comments

CHOICE Says Look Past The Lifetime Health Cover Hype

CHOICE says young Australians shouldn’t feel pressured into taking out health insurance just to avoid paying Lifetime Health Cover loading New CHOICE analysis has found taking out poor value health insurance, simply to avoid a future loading on premiums, may ultimately leave consumers worse off. “As the end of financial year approaches, health insurance and [...]

By | July 4th, 2017|CHOICE, Health|0 Comments

‘Independent’ Means Independent – ASIC Clarifies Financial Adviser Terms

'Independent', 'independently owned', 'non-aligned' - financial advisers use a variety of terms to promise a lack of conflict of interest. But what do these terms mean? And what is required before an adviser can lawfully use them? ASIC has clarified its position on the use of restricted terms relating to the independence of financial advisers after seeking [...]

By | July 3rd, 2017|ASIC, Finance|0 Comments

Product Measurement Labelling Laws Under Review

The laws that regulate the way in which measurement is marked on product packaging are under review. The Commonwealth Department of Industry, Innovation and Science is conducting the review as the authority responsible for trade measurement regulation. The National Trade Measurement Regulations 2009 Part 4 describe how the name and address of the manufacturer, as well as the weight of the [...]

Consumer Advocates Respond to ACL Review

Consumer advocates have responded to the Australian Consumer Law Review conducted by Consumer Affairs Australia and New Zealand, noting some great wins for Australian consumers. Consumer Action Law Centre (CALC) CEO Gerard Brody said in a media release that there are some important changes on the horizon. ‘The Final Report proposes to make insurance contracts [...]

By | April 28th, 2017|CHOICE, Consumer Law, Report|0 Comments

Ending the Ticket Rip-off

Consumer groups launch international survey of ticket resellers to address world-wide rorts CHOICE is leading a coalition of consumer groups in launching an international survey of the ticket resale market to stop consumers being ripped off by the likes of Viagogo, Stubhub and Ticketmaster Resale. “From outrageous ticket price mark-ups of up to 327% to [...]

By | April 13th, 2017|CHOICE, Consumer protection|0 Comments