On 25 February 2016, the Senate referred the provisions of the Corporations Amendment (Life Insurance Remuneration Arrangements) Bill 2016 to the Economics Legislation Committee for inquiry and report by 15 March 2016. The Committee has released its report and is of...
ASIC has required a number of Australian Financial Services Licensees, including an insurance broker to remove or amend claims made about the independence of their services in marketing and promotional materials. Under the Corporations Act, a person who carries on a...
ASIC is calling on insurers to significantly improve consumer outcomes in its based on two reports relating to add-on insurance products commonly sold to consumers when purchasing cars: Buying add-on insurance in car yards: why it can be hard to say no (Rep 470); and...
Background on ASIC focus on compliance culture ASIC’s focus on the compliance culture within organisations continues with ASIC’s Media release on Affected consumers to be compensated as ASIC accepts EU from ACE Insurance being the latest example of how ASIC is taking...
On 4 September 2014, the Senate referred an inquiry into the implications of financial advice reforms to the Senate Economics References Committee for inquiry and report by the first sitting day of July 2015. The Senate subsequently extended the reporting date on 2...
The NSW Government has announced that the emergency services levy (ESL) on insurance policies will be abolished in favour of a property-based charge paid alongside council rates from July 2017. This leaves stamp duty and GST which apply to most policies next on the...
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