In an attempt to cut the virtual red tape, ASIC has made it easier for businesses to provide product disclosures to consumers through digital channels.
Funeral cover cons targeted
A campaign targeted at heightening awareness of funeral insurance scams within Australian Indigenous communities has been launched through the NICS.
Advisers banned by ASIC
A life insurance financial adviser has received a four-year ban after failing to comply with financial services laws.
Big reform for life commissions
Proposed reforms to the retail life insurance industry may result in a $225 million cut in financial planner remuneration by 2018.
Credit card insurers lift game
Issuers of credit cards with included travel insurance have been compelled to provide more substantial information regarding the cover conditions.
Advisers register beefed up
ASIC has boosted the amount of information on its financial advisers register, including each adviser’s qualifications, among other details.
Watchdog eyes workplace culture
The financial services industry needs a fundamental shift in culture, according to ASIC.
Small business directors defined
Small business owners are offered a helping hand with a new online resource explaining roles and responsibilities of company directors.
Global regs to bite firms
Numerous major and specialist Australian insurers will likely soon be beholden to increased regulations, according to a new KPMG report.
Insurer refunds $1.4 million
Allianz has refunded approximately $1.4 million to more than 20,000 customers, after identifying that it had overcharged some consumer credit insurance policies....
Watchdog guns for fees
ASIC has confirmed it is investigating multiple instances of financial services professionals charging clients for advice without actually providing any.
Brokers critical of ASIC website
North Queensland brokers have lamented a missed opportunity with ASIC's new insurance comparison website failing to point any customers toward broker advice.
Industry hits out at life report
A mooted cap on upfront life insurance commissions will send small independent financial advice firms out of business, according to industry stakeholders.
Fraud claims hit insurer
ASIC has launched a major investigation into a mid-tier personal insurer, after a whistleblower made claims of misleading and fraudulent sales practices.