New research from Super Consumers Australia has found products which failed the annual super performance test have on average cut their fees by 20%. The performance test is protecting Australians from poorly performing super products. In just over one year, every fund bar one that failed the first performance test is addressing its underperformance through…
Read More Failed super funds slash fees
The ACCC has welcomed the Federal Government’s announcement of new work for the ACCC in scams, childcare, water trading and an extension of the ACCC’s gas inquiry role. “We look forward to delivering on these new responsibilities, as well as our ongoing work to promote competition and fairer markets for consumers and small businesses,” ACCC…
Read More ACCC receives additional responsibilities in budget
The Save Sorry Business Coalition has welcomed the Federal Government’s initial $7.2 million Budget allocation for the Youpla Funeral Benefits Program. This interim scheme will help a small percentage of First Nations families affected by the collapse of Youpla to conduct the important cultural practice of Sorry Business. This initial commitment is a first step…
Read More First Nations advocates welcome $7.2m in Budget for interim Youpla scheme
Council on the Ageing (COTA) Australia, the peak body for older Australians, welcomes the Albanese Government’s first Budget. “This is a budget that has kept its promises to older Australians and gone further in some areas,” said COTA Australia Chief Executive, Ian Yates. “Looking at the Budget as a whole, the Government’s focus on reducing…
Read More Federal Budget initiatives welcomed by older Australians says COTA
Energy Consumers Australia said the expected rises in electricity and gas prices over the next two years contained in today’s Budget, means there must be a critical national conversation on how governments will help people control their energy use and bring bills down. CEO Lynne Gallagher said the strategy needs to make sure there is…
Read More Putting people in control of energy use is our most urgent national energy priority
The recent Commonwealth, State and Territory Consumer Affairs Ministers meeting in Adelaide saw a renewed commitment to collaboration across borders and to strengthen consumer protections. Ministers attending the meeting, chaired by South Australian Minister for Consumer Affairs Andrea Michaels, discussed and agreed on priorities for future work, which include: legislation to make unfair contract terms…
Read More Consumer Affairs Ministers meet in Adelaide in September 2022
ACCC Chair Gina Cass-Gottlieb has welcomed the Governor General’s recent appointment of Catriona Lowe as ACCC Deputy Chair and applauded the contribution of departing Deputy Chair Delia Rickard. Ms Lowe has been appointed for a five-year term from 27 January 2023 when Ms Rickard will finish her term after more than a decade with the…
Read More ACCC pays tribute to Delia Rickard, welcomes Catriona Lowe as Deputy Chair
The Australian Government has released a factsheet to provide information on what to do if your data has been compromised in the recent Medibank and AHM cyber incident. If you think you may be affected by the breach, contact Medibank Private on 13 23 31 or AHM on 13 42 46. If you are concerned…
Read More Guidance for consumers impacted by the Medibank Private and AHM cyber incident
Front: Amy Pereira (2022 mentee), Dana Beiglari (2022 mentee), Rebekah Sarkoezy (2021 mentee). Back: Roberta Grealish (2021 mentee), Franco Morelli (2022 mentee), Sarah Black (2022 mentee), Deb Shroot (2022 mentee), Elissa Freeman (Mentoring Program coordinator). Pictured at the 2022 Mentoring Program networking event in Sydney.
Expressions of interest for the 2023 CFA Consumer Advocacy Mentoring Program are now open, due by 1st November 2022. Please share this item with emerging leaders in your organisation who may be interested in applying for the 2023 program. “Can’t thank you enough for running this excellent program. Becoming part of the wider consumer advocate network,…
Read More Apply to join CFA’s 2023 Mentoring Program
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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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Breaches of the Banking Code of Practice rose 19 per cent in the second half of 2021, according to the latest compliance report by the Banking Code Compliance Committee (BCCC). This is a media release from the Banking Code Compliance Committee (BCCC). It was originally published on 8th September, 2022. The report, Banks’ Compliance with the Banking Code of…
Read More Banking Code breaches need to come down
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Six industry associations that represent the online industry in Australia have published new online safety codes for public consultation. This item is from Online Safety. Australia’s Online Safety Act 2021, which came into effect in January 2022, requires the development of codes by industry associations to regulate certain types of harmful online material, known as Class 1A…
Read More Have your say: New online safety industry codes
