Regulator news and government inquiries

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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…

Read More Major NSW Ticket Scalping Reforms to Put Consumers First

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…

Read More Action Plan to Help Indigenous Australians with Consumer Issues

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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…

Read More Car Companies Caught Refitting Lethal Airbags – CHOICE

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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.…

Read More Federal Government Silent on Debt Vulture Warnings

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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…

Read More ASIC Taskforce Signals Shift from Self-Regulation in Finance Industry

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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…

Read More CHOICE Says Look Past The Lifetime Health Cover Hype

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‘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…

Read More ‘Independent’ Means Independent – ASIC Clarifies Financial Adviser Terms

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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…

Read More Product Measurement Labelling Laws Under Review

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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…

Read More Ending the Ticket Rip-off

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The Australian Competition and Consumer Commission has welcomed the Federal Government’s announcement that it will fund a new broadband performance monitoring program to provide Australian consumers with accurate and independent information about broadband speeds. The program will use hardware-based devices to perform remote testing of around 4,000 households to determine typical speeds on fixed-line NBN…

Read More ACCC to monitor Australia’s broadband performance