As part of a larger package ASIC will receive $23.9 million over four years to facilitate the implementation and enforcement of the Future of Financial Advice reforms.
Read More ASIC funding for financial advice reforms
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ACCC chairman Rod Sims has described the digital and online economy as posing one of the biggest regulatory challenges in a generation.
Read More ACCC outlines priorities in enforcing competition law
CHOICE says interest rate response will be a true test of competition in Australian banking as the big four banks have the capacity to pass on this week’s RBA interest rate cut in full.
Read More Memo to the big four banks – pass it on
A review of credit card chargebacks by Australia banks has found low levels of complaint but some areas for improvement.
Read More 95,000 credit card chargeback requests per month
ACCC chairman Rod Sims today outlined the importance of regulators and Ombudsmen working together to identify issues that pose harm to consumers.
Read More ACCC and Ombudsmen an important connection in consumer protection
Recognising that lenders combine customer information and sophisticated systems to target customers is an important first step towards ensuring that these practices are taken into account in developing consumer policy.
Read More Bank customer profiling identifies consumer vulnerabilities: report
The Financial Ombudsman Service is seeking two consumer representatives for the monitoring committees for the Codes of Banking Practices and the General Insurance Code of Practice.
Read More Consumer representative positions: Banking & Insurance Code Compliance Monitoring Committees
HSBC Bank Australia has changed the advertising for its current ‘Let’s Bankercise’ campaign, in response to ASIC concerns that ads promoting a home loan discount were potentially misleading.
Read More ASIC concerns lead to HSBC to change home loan advertising
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ASIC and the Territory Insurance Office (TIO) have launched a joint Indigenous financial literacy strategy involving audio posters with messages about ATM fees in 12 Aboriginal languages.
Read More ASIC and TIO launch Indigenous audio posters
CI logo
A wide variety of activities took place in more than 60 countries for World Consumer Rights Day. Read about some of the highlights.
Read More Consumers International: Six highlights from World Consumer Rights Day
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The report outlines categories of gatekeepers against whom ASIC has taken action including financial advisers, responsible entities, credit licensees, market participants, directors, company officers, insolvency practitioners and auditors. It includes detailed statistics over a six month period.
Read More ASIC releases first six-monthly enforcement report
Is the Commonwealth about to further weaken payday lending laws under pressure from industry? Gerard Brody of Consumer Action Law Centre reviews the arguments. He says interest rates of 288% will not put any pressure on the payday industry to change their harmful practices.
Read More Government to backflip on payday lending law reforms?
