COVID total and permanent disability claims initiative

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The life insurance industry has put further steps in place to support Australians through the unprecedented public health and economic impacts of COVID-19. Last week the Financial Services Council (FSC) announced an initiative on behalf of participating life insurance member companies to ensure that if people lose their job, are stood down or have reduced

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Politicians monitored for sleep, steps as part of life insurance wellness programs

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The Financial Services Council, which represents most of Australia’s life insurers, has launched the inaugural Parliamentary Friends of Insurance Group alongside MLC Life Insurance and AIA Australia. At a launch event in Canberra on Wednesday 18 October, fitness data for three federal politicians – Senator Deborah O’Neill, Senator Dean Smith and Ms Terri Butler MP

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FSC welcomes new ASIC Chairman

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The Financial Services Council (FSC) welcomes Mr James Shipton as the full-time Chairman to the Australian Securities and Investments Commission (ASIC). The FSC recognises the important work ASIC carries out to promote consumer confidence in Australia’s financial system, and believes Mr Shipton is well-placed to lead the regulator through the next phase of that journey. FSC

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Financial services leaders in Japan and Korea ahead of Asia Region Fund Passport kick-off

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The Financial Services Council (FSC) is leading a delegation of senior Australian funds management executives to South Korea and Japan this week to promote trade opportunities ahead of the commencement of the Asia Region Funds Passport regime at the start of next year. Senator the Hon Mathias Cormann, Finance Minister and Deputy Leader of the

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FSC questions need for Royal Commission

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Inquiries into the financial services sector have cost the industry more than $3 billion since the global financial crisis, Sally Loane, chief executive officer of the FSC, told industry executives at a lunch in Melbourne organised by public relations firm Pritchitt Partners yesterday. “Currently there is the Parliamentary Joint Committee Inquiry into Life Insurance, a

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FSC staff announcement

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The Financial Services Council’s Director of Policy Andrew Bragg has resigned and will leave the FSC at the end of November. Mr Bragg has been a member of the FSC’s policy team since 2009 and was appointed Director of Policy in 2014. Sally Loane, FSC CEO said: “On behalf of the FSC team and our

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FSC Welcomes Australian Government decision to fix withholding tax rates

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The Financial Services Council welcomes the Australian Government’s commitment to fix withholding tax rates for Australian investment vehicles during the next 12 months. FSC CEO Sally Loane said “Australia’s complex and uncompetitive withholding tax system is widely recognised as a significant barrier to exporting Australian financial services and products. “Today’s commitment by the government to

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Financial Services Council appoints Geoff Lloyd as Chairman

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The Financial Services Council (FSC) has announced that Geoff Lloyd, CEO and Managing Director of Perpetual Limited, has been unanimously elected by the Board as Chairman of the FSC. He will commence in the role on Thursday 21 July. Mr Lloyd will replace Greg Cooper, CEO of Schroder Investment Management Australia, who will step down

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FSC Industry Excellence Awards winners announced

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NINE outstanding financial services executives have last tonight been honoured with industry excellence awards at the Financial Services Council Leaders Summit Gala Dinner in Melbourne. The five men and four women were recognised for their sustained professional support and leadership of the financial services industry. Financial Services Council CEO Sally Loane applauded the winners, saying

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Major step forward for Indigenous Australians and financial services

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The Financial Services Council and First Nations Foundation congratulate AUSTRAC for the release of its guidance note to aide the identification of people of Aboriginal and Torres Strait Islander heritage (Guidance) announced at the FSC Leaders’ Summit yesterday. For over two years, FNF and the FSC have sought improvements to AUSTRAC’s guidelines to allow FSC’s

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