Tag: ASIC
Financial Advisory Business Closes Digital Advice Tools
Sydney-based Australian financial services licensee, Lime FS, has agreed to close down two digital advice tools following concerns raised by ASIC.
Lime FS’ corporate authorised...
ClearView Pays-Up For Poor Life Insurance Advice
In Australia, ClearView Financial Advice has offered $730,138 in financial compensation to 215 clients, following the completion of a review and remediation program for...
Lack of Trust Remains an Issue
New consumer research released by Australian regulator, ASIC, has confirmed consumers see value in financial advice but that barriers, including the trust factor, prevent...
ASIC Finds Consumer Credit Insurance Poor Value and Harming Consumers
Australian regulator ASIC’s review of the sale of consumer credit insurance (CCI) has found unacceptable sales practices, poor product design and significant remediation costs...
Latest Poll – Capped Commissions Coming to NZ?
The Government is considering capping up-front life insurance commissions and potentially trail too, as detailed in an options paper for its Conduct of Financial...
ASIC Focus on Client Best Interests
For the third consecutive week, Australian regulator ASIC has announced action against advisers over client best interests failures.
The latest banning involves two Sydney-based operators...
Insurers Identified in ‘World-First’ Claims Data Release
Detailed individual life company claims records have been released to the Australian public for the first time.
In what is claimed to be a world-first,...
Aussie Regulator Commences Legal Action Against AMP Over Life Insurance ‘Rewriting’
Australia's corporate regulator, ASIC, has begun court proceedings against AMP Financial Planning (AMPFP) alleging some of its advisers engaged in conduct to rewrite life-insurance...
Aussie Regulator Says Life Insurance Commissions Will Remain
The head of Australia's corporate regulator ASIC has claimed a recent speech in which he called for the removal of commissions to avoid conflicts...