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  • ASIC To Be Given Power To Ban Risky Financial Products

    15 December 2016
    Minister for Revenue and Financial Services Kelly O’Dwyer



Wednesday, 16 Sept
9.00am to 1.30pm
4.5hrs
Parliament House
(Senate Committee Rom 2S3)
Day 4 จC Speakers and group photo Minister for Revenue and Financial Services Kelly O’Dwyer says the measures included in the consultation paper, "will improve outcomes for consumers and make ASIC a more proactive regulator."

    The Government has announced that it will proceed with plans to give increased power to ASIC to ban or intervene in the sale of financial products that it deems unsuitable for consumers. The Turnbull Government released a consultation paper earlier this week that requires feedback for two proposals that emerged as a result of the Financial System … Continue reading ASIC To Be Given Power To Ban Risky Financial Products

  • Government Backpedals On Banking Tribunal

    8 December 2016
    Jeff Kennett Former Premier Jeff Kennett has been critical of the Government’s decision to back down on its decision to establish a banking tribunal to deal with consumer complaints.

    After announcing the new  Professional Standards of Financial Advisers bill several weeks ago, the Turnbull Government has reneged on its deal of installing a banking tribunal. The Turnbull Government will not proceed with its intended banking tribunal and expert panel to examine dispute resolution in the financial services industry but will replace it with a new ombudsman. The Ramsay … Continue reading Government Backpedals On Banking Tribunal

  • University Study Shows Client Satisfaction And Trust In Advisers High

    2 December 2016
    Sally Loane Financial Services Council FSC FSC Chief Executive Sally Loane says the research findings shows "there is fantastic work being done by the industry on a daily basis that goes largely unreported.”

    A recent academic study has found that an overwhelming number of clients are satisfied and trust their advisers. The study titled Funding our future: Perceptions of the value of financial advice was conducted by researchers at the University of Adelaide, University of Technology Sydney and University of Western Australia with grant assistance from the Australian Research Council in partnership … Continue reading University Study Shows Client Satisfaction And Trust In Advisers High