Regulator news - Consumers' Federation of Australia

27 September , 2021

ASIC release report on competition in the Australian funds management industry

On Friday 24th September the Australian Securities & Investments Commission (ASIC) released a report on the state of competition in Australia’s funds management industry. This is a media release from the Australian Securities & Investments Commission (ASIC). It was originally published on 24th September, 2021. ASIC commissioned independent research by Deloitte Access Economics (Deloitte) to examine competition between…

24 September , 2021

Telcos and credit providers fail consumers during COVID-19, says new scorecard

Telecommunications and credit and personal finance providers were found to be joint wooden spoon winners in a 2020 Sector Scorecard developed by Consumer Policy Research Centre and Roy Morgan. By delivering the joint worst customer experience overall these sectors have let down their customers when they most needed support. This highlights the need for increased…

24 September , 2021

Telecommunications complaints fall, but serious concerns remain

The Australian Communications Consumer Action Network (ACCAN) has welcomed an overall fall in complaints to the Telecommunications Industry Ombudsman (TIO), however, raised concerns that small businesses may be suffering as complaint levels from the sector reach a three year high. This is a media release from the Australian Communications Consumer Action Network (ACCAN). It was originally published…

20 September , 2021

Australian Energy Regulator seeks new members on key panel representing consumer views

The Australian Energy Regulator (AER) is inviting organisations and individuals to apply for membership on its Customer Consultative Group (CCG), a key consumer panel providing input into retail energy consumer experiences. This is a news item from the Australian Energy Regulator (AER). It was originally published on 15th September, 2021. The CCG is a critical part of our stakeholder…

26 August , 2021

Insurance Brokers Code Compliance Committee releases Annual Report for 2020–21

The independent committee that monitors the Insurance Brokers Code of Practice (the Code) has released its Annual Report for 2020–21, a year marked by the continued impact and disruptions of COVID-19, the torrent of legislation following the Financial Services Royal Commission and the unprecedented risk challenges facing the insurance industry. This is an Insurance Brokers Code…

9 August , 2021

Insurers targeting people who rent with unjust bills over $300,000

CHOICE and WEstJustice have called for regulatory intervention to stop insurance companies unfairly pursuing people who rent for claims made on landlord insurance. This is a CHOICE and WEstJustice media statement, originally published on 6th August, 2021. Read the full investigation. The advocacy groups have presented finance regulator ASIC with evidence of insurers pursuing debts…

2 August , 2021

Government must go back to the drawing board on new Open Banking rules that undermine Australians’ privacy rights

Financial Rights Legal Centre is calling on the Australian Government to halt the introduction of new rules that will increase privacy and security risks for people when sharing their financial data. This is a Financial Rights Legal Centre media release, originally published on 30th July, 2021. The government should rescind proposals to: allow the transfer…

26 July , 2021

Toward a meaningful right to repair

A ‘right to repair’ is the ability of consumers to have their products repaired at a competitive price using a repairer of their choice. A recent CHOICE consumer pulse survey identified that more than eight in ten (85%) people said that buying products that will last a long time is important to them and more…

19 July , 2021

Expectations for telcos in supporting vulnerable consumers

The Australian Communications and Media Authority (ACMA) is looking to improve the way the telco sector supports consumers in vulnerable circumstances, with a proposed Statement of Expectations for the industry released for consultation today. This is an Australian Communications and Media Authority media release, originally published on 14th July, 2021. ACMA Chair Nerida O’Loughlin said…

9 July , 2021

7 ways to fix the travel “cancellation chaos”

Consumer group CHOICE has asked Australian governments to fix Australia’s travel “cancellation chaos” with 7 urgent reforms, starting by making it easier for travellers to obtain refunds when plans are cancelled. This is a CHOICE media release, originally published on 8th July, 2021. CHOICE surveyed over 4,400 Australians who had travel plans disrupted by COVID-19…

2 July , 2021

CFA and member organisations call for changes to proposed new federal Unit Pricing Code

CFA has made a submission to the federal government on its draft new Grocery Unit Pricing Industry Code of Conduct. The submission disagrees strongly with the conclusions of the review of the current Code and with the proposed new Code’s provisions (which are identical to those of the current Code). It also argues that implementation…

24 June , 2021

Button batteries – new requirements for suppliers

In Australia, one child a month is seriously injured after swallowing or inserting a button battery and the ACCC has identified a number of ways to protect your family. The ACCC is also encouraging suppliers to comply with the new requirements on button batteries as soon as possible and has developed A Guide for Business on the Application of…