The federal government is trying to make Australians more financially literate, but it’s using a definition that ignores many political, economic and cultural factors.
The new ASIC chairman, James Shipton, should be in charge of enforcing banking conduct.
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Despite billions raised in the past year, ICOs are still risky. But ASIC has finally given us a sign of how they will be regulated.
APRA’s independent inquiry panel member, John Laker, who is also chairman of the Banking Finance Oath initiative, will be one of the ones holding the CBA to account.
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One scandal at the CBA stands out above all others, It set the scene for how the CBA board would handle future scandals, that is to obfuscate, prevaricate and litigate.
ASIC found that CommInsure didn’t breach the law with its handling of claims.
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ASIC is telling CommInsure to do what it should have been doing all along. Let’s forget the past and mistreatment of customers, it’s paradise for firms that prey on the sick and dying.
There are mixed results in research when it comes to the effect of shaming people into good behaviour.
Lukas Coch/AAP
Helen Anderson, The University of Melbourne; Ian Ramsay, The University of Melbourne; Jasper Hedges, The University of Melbourne y Michelle Welsh, Monash University
A primary focus on prosecuting those who have committed illegal phoenix activities has not been successful.
Scott Morrison’s UK visit may deliver some new ideas on data for Australia.
Will Oliver/AAP
Members of House Standing Committee on Economics should be asking the directors of Australia’s Big Four banks (not the CEOs) different questions, if they really want the right answers.
Animal welfare advocates protesting a bill to stop whistleblowers in the agricultural industry.
Richard Ashen/AAP
Businesses are trying to set up procedures to help whistleblowers, but better guidance, incentives and regulation are still needed, new research finds.
ASIC has been highly critical of some of the practices of Australia’s big four banks.
Britta Campion/AAP
An ASIC report detailing how financial advice was paid for but not given by Australia’s big four banks exposes a culture problem that the government needs to deal with.
Mortgage tracker rates follow the cash rate.
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Just when we all thought that the Australian Securities and Investments Commission (ASIC) had already won the race to be most ineffective regulator of the year, up pops the Australian Prudential Regulation…
Kelly O'Dwyer said legislation would be introduced into parliament this year to mandate professional standards for advisers.
Mick Tsikas/AAP
The large banks and AMP will be required to fund the establishment of a new independent body to oversee the professional standing of the much-criticised financial services industry.
New ASIC regulations aim to improve transparency in the life insurance industry.
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Data on the outcomes of life insurance claims will not only help individual customers but also financial advisers and super funds acting on behalf of consumers.
Many Australians will not benefit from the Financial Services Council’s new life insurance code, Gail Pearson says.
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