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ASIC has released an update on its work in the six-month period from September 2019 to February 2020, including its response to the referrals and recommendations of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry (the Royal Commission). It follows previous updates on ASIC’s response to the Royal Commission’s recommendations…

Read More ASIC releases update on its enforcement and regulatory work

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ACCC Chair Rod Sims announced the ACCC’s compliance and enforcement priorities for 2020 in a speech to the annual Committee for Economic Development Australia (CEDA). These priorities provide focus to the ACCC’s enforcement and advocacy work, as well as develop solutions to deliver benefits for all consumers. The 2020 priorities include: Competition and consumer issues in the…

Read More ACCC releases its compliance and enforcement priorities for 2020

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Extreme weather events in Australia and the recent outbreak of the coronavirus (COVID-19) in China, may leave you wondering where you stand in terms of cancelling, rescheduling or getting a refund on holiday accommodation bookings, flights and other travel plans. The Office of Fair Trading Queensland has released the following media statement: Under the Australian…

Read More Will coronavirus effect my travel plans? Check the fine print

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ASIC has today started a four week consultation on draft guidance about the new best interests duty for mortgage brokers. The new obligations were legislated by the Parliament in response to Recommendation 1.2 of the Royal Commission. From 1 July, the obligations will require mortgage brokers to act in the best interests of consumers and to…

Read More ASIC consults on draft guidance on the new best interests duty for mortgage brokers

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The domestic battery storage market looked set to take off when significant price reductions and rapidly rising electricity prices indicated batteries would soon be cost effective. Unfortunately, over the past few years electricity prices have continued to soar but the price of battery storage has remained high. Do Government subsidies help? Read Dr Martin Gill’s…

Read More Battery storage an energy option for consumers

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ASIC has released the findings from its recent review of superannuation trustees’ communications with their members about changes introduced through the Treasury Laws Amendment (Protecting Your Superannuation Package) Act 2019 (PYSP). The PYSP reforms were introduced to protect the superannuation savings of Australians from erosion due to inappropriate fees and insurance premiums as well as to reduce unintended…

Read More ASIC releases report reviewing trustees’ PYSP communications

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The report from Consumer Policy Research Centre (CPRC) draws on research undertaken in partnership with University of South Australia (UniSA) which surveyed 502 Home Care Package (HCP) recipients across metropolitan Australia in June and July last year. “Older Australians are being abandoned by the system, often unable to access the necessary support to live happier,…

Read More Consumer research centre releases latest report – Choosing care: the difficulties of navigating home care

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CHOICE is calling on the government to introduce tighter product safety laws, following an alarming number of infant deaths linked to inclined sleepers in the US. CHOICE experts say that based on research conducted in the US, inclined sleepers are so dangerous for young babies that they should be completely avoided. Two inclined sleeping products…

Read More Inclined sleepers: A tragedy waiting to happen in our homes