ASIC approves Australian Financial Complaints Authority rules

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The Australian Securities and Investments Commission (ASIC) has approved the Australian Financial Complaints Authority (AFCA) Complaint Resolution Scheme Rules and the Terms of Reference of the AFCA Independent Assessor (IA).

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13 Sep 2018

ASIC reviews insurance in superannuation

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The Australian Securities and Investments Commission (ASIC) has released a report on the provision of insurance cover through superannuation. ASIC’s review of 47 superannuation trustees focused on: insurance claims and

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10 Sep 2018

ASIC updates guidance for trustees of wholesale equity schemes

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ASIC has released Regulatory Guide 192 Licensing: Wholesale equity schemes (RG 192) following public consultation. The updates to the guidance reflect: the changes made to the relief provided in ASIC Corporations (Wholesale Equity Scheme

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06 Sep 2018

ASIC’s review of direct life insurance finds high cancellation rates and poor claims outcomes

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ASIC’s review of direct life insurance sales has found that sales practices and product design are leading to poor consumer outcomes. ASIC’s Report 587 released today reveals that: Consumers are cancelling their

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31 Aug 2018

ASIC publishes a review of reverse mortgage lending

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A review by ASIC has found that reverse mortgages are allowing older Australians to achieve their immediate financial goals – improving their lifestyles in retirement – but longer-term challenges exist.

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30 Aug 2018

ASIC requires Morgan Stanley Wealth Management Australia to amend false claim of independence

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ASIC has required Morgan Stanley Wealth Management Australia Pty Ltd (MSWMA) to amend a false claim of independence that could mislead consumers and investors. The claim was made in an

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29 Aug 2018

Time to act for all ASIC-regulated organisations required to submit information for industry funding

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If you are an organisation regulated by ASIC you may be required to submit some information to ASIC on the operation of your business before 27 September 2018. This obligation

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23 Aug 2018

The Hon Kelly O’Dwyer MP launches the 2018 National Financial Capability Strategy

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The Minister for Revenue and Financial Services, The Hon. Kelly O’Dwyer MP, has launched the 2018 National Financial Capability Strategy at an event at Parliament House in Canberra. Speaking at

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22 Aug 2018

Banks to improve fraud protection systems following ASIC review

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Following a review by ASIC, five Australian banks will improve their compliance measures and controls for deposit accounts that can be operated by a third party, such as a financial

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13 Aug 2018

Why women need to talk about money

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Women are participating in the workforce and gaining tertiary qualifications at a greater rate than ever before but many women lack confidence when it comes to money. Research by ASIC

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10 Aug 2018