Regulator news and government inquiries

Regulations

The Australian Energy Regulator (AER) recently released the Review of the AER and draft exemption policies for energy networks, retailers, and for customers who may be affected by family violence (based on the advice of Safe and Equal). To view the documents themselves, or for more background into the review, please read the original on…

Read More Energy regulator requests stakeholder submissions after draft and review release

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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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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

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ACCAN – Australia’s peak national communications consumer body – has hailed the Federal Government’s strengthening of enforcement powers a major win for telecommunications consumers. ACCAN’s CEO, Carol Bennett, said the reforms will promote increased accountability, transparency and compliance within the telecommunications industry, and contribute towards improving trust in telcos which has been eroding. “This announcement…

Read More Stronger Enforcement Powers a Major Win for Telco Consumers

News

This is a joint submission made on behalf of:• Consumer Action Law Centre• CHOICE• The Australian Communications Consumer Action Network• Financial Rights Legal Centre• Super Consumers Australia• Financial Counselling Australia• Westjustice• Consumer Credit Legal Service WA Our organisations are pleased to have the opportunity to provide our feedback to the Senate Economics Legislation Committee. We…

Read More Joint Submission Urges Law Reform and Mandatory Industry Action

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CHOICE responds to the Federal Government’s announcement releasing the draft Aviation Customer Rights Charter for public consultation. Quotes attributable to Rosie Thomas, Director of Campaigns at CHOICE:  “CHOICE welcomes the release of a proposed Aviation Customer Rights Charter. The announcement is an important step towards giving consumers clear rights when flights don’t go to plan.”…

Read More Aviation Charter of Rights needs more to take off: CHOICE

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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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Today (5 December) the Parliamentary Joint Committee on Corporations and Financial Services will release its long-awaited report from the inquiry into the Financial Services Regulatory Framework in Relation to Financial Abuse, which commenced in April 2024. Members of the Economic Abuse Reference Group, a national network of over 50 community organisations that work with government…

Read More Community Advocates Welcome Government Report on Financial Abuse

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Consumers will now have a voice at the table to determine how the NBN can better serve the needs of communities around Australia thanks to a $2.56 million funding grant from the Australian Government to the Australian Communications Consumer Action Network (ACCAN). As the peak communications consumer body, ACCAN’s new funding will allow it to…

Read More Australian Consumers Now Have a Voice at the NBN Table

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Financial Counselling Australia (FCA) has welcomed an ASIC report calling on Australia’s insurers to improve their complaints handling processes.   “We are disappointed but not surprised.?The findings from ASIC’s review of insurance complaints handling mirrors the experience of many financial counsellors supporting their clients through the claims process,” said Vicki Staff, FCA’s insurance expert.   ASIC’s review of…

Read More Review Finds Systemic Failures in Insurers’ Internal Dispute Resolution

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The Banking Code Compliance Committee (BCCC) is developing their priorities for 2025-26 and is inviting interested parties to complete a short survey to share “new or emerging risks, issues or practices that you believe are concerns and causing harm to consumers or leading to poor outcomes”. The survey is open from 2/12/2024 to 7/02/2025 and survey…

Read More Banking Code Compliance Committee 2025-26 Priorities Consultation