Finance

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The ACCC has released a draft determination proposing to grant authorisation with conditions to allow the Australian Sustainable Finance Institute (ASFI) and industry participants to collaborate on sustainable finance initiatives for five years. ASFI is seeking authorisation for itself, ASFI members and other industry participants to exchange information to improve the integration of natural capital…

Read More ACCC’s draft authorises collaboration on sustainable finance initiatives

News

Financial counsellors have launched their federal election campaign – When every dollar counts, so does financial counselling – we can’t afford to wait. Financial Counselling Australia (FCA), along with all the state financial counselling associations, is calling for a commitment from all sides of politics to provide increased and more sustainable funding, particularly for face-to-face financial…

Read More Every dollar counts – financial counsellors launch election campaign

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Preliminary research commissioned by the Australian Communications Consumer Action Network (ACCAN) raises alarm bells for policymakers and regulators. Findings point to widespread consumer harm and deep mistrust in the telecommunications industry. The polling, conducted as part of the first tranche of ACCAN’s consumer sentiment research, highlights troubling experiences of telco behaviour and unmet expectations. “Given…

Read More Research highlights consumer distrust in broken telco system

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Australia’s peak communications consumer body, ACCAN, has today called for the weak and ineffective industry-drafted Telecommunications Consumer Protections (TCP) Code to be scrapped in favour of robust and enforceable industry standards that better protect Australian consumers. Communications are an essential service – yet the rules which exist to protect communications consumers are failing in their…

Read More Time to scrap ‘consumer protection’ rules that don’t protect consumers

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The 2022 Insurance Brokers Code of Practice (the Code) is currently under review. The National Insurance Brokers Association (NIBA) is actively seeking engagement with the review from the consumer sector and has provided the Consumers’ Federation of Australia (CFA) with funding to support the consultation. The Independent Reviewer, Phil Khoury (CKR Consulting), is examining several…

Read More Review: Insurance Brokers Code of Practice

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Assistant Treasurer, Stephen Jones has announced strengthened pathways for victims to seek compensation where wrongdoing has occurred. A Ministerial Direction announced yesterday, will empower the Australian Financial Complaints Authority (AFCA) to investigate every bank involved in the scam, both the sending and receiving bank. Consumer Action Law Centre CEO Stephanie Tonkin thanked the Assistant Treasurer for his…

Read More AFCA empowered to investigate all banks involved in a scam

Here to Help

Financial Counselling Australia (FCA) is reminding those who may be impacted by Cyclone Alfred, there is free financial counselling available. “Weather disasters can lead to unexpected financial problems, and some may find themselves in financial hardship,” said Louise Hayes, FCA’s National Coordinator of Disaster Recovery. “It’s important to know there are financial counsellors who can…

Read More Free financial counselling available to those impacted by natural disasters

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North Queensland has just experienced another catastrophic flooding event, marking the second “once-in-a-century” flood in just six years. Ingham and areas surrounding Townsville were inundated, leading to mass evacuations, significant infrastructure damage, and tragic loss of life. The Herbert River reached levels unseen since 1967, overwhelming communities and causing widespread devastation. In February 2019, ‘The…

Read More Recent natural disasters highlight the need for ‘disaster qualified’ FCs

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HSBC Bank Australia Limited (HSBC Australia) failed to adequately protect customers scammed out of millions of dollars, according to documents filed by ASIC in the Federal Court today. ASIC alleges HSBC Australia failed to have adequate controls in place to prevent and detect unauthorised payments and failed to comply with its obligations to investigate customer…

Read More Win for Consumers and Advocates as ASIC Sues HSBC Australia, Alleges “widespread and systemic” failings

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Public comment and submission is now open for the Victorian Bar, Western Australian Bar, and Chartered Accountants Australia and New Zealand’s proposed Professional Standards Schemes. A professional standards scheme is a legal instrument that limits the occupational liability or damages that can be awarded against a member of the association to whom a scheme applies.…

Read More Bar and Accounting Professional Standards Schemes Open for Comment and Submissions