Senate Committee

Financial planning

ASIC tests AI usage to read public submissions

ASIC chair Joe Longo has told a Senate select committee that it has been running two pilot AI programs, including one to read public submissions....

Policy & Regulation

Senate Committee recommends increasing consumers’ rights

Consumers can expect improved justice and recourse should they be victims of wrongdoing by the financial services industry as the result of a Senate Committee report hand...

Financial planning

Planners should be answerable on products, says ISA

Industry Super Australia has objected to exempting personal financial advice from product design and distribution obligations, arguing planners need to be held responsibl...

Policy & Regulation

ASIC will not ignore ‘lawful’ behaviour

The Australian Securities and Investments Commission has declared that just because behaviour is lawful does not make it an excuse where consumer detriment is concerned....

Financial planning

Advisers call out FASEA as top challenge

Financial advisers have named their top three challenges and it’s no surprise education reforms are in the top spot. ...

Policy & Regulation

Lawyers argue against post-sale product intervention

The Law Council of Australia has urged the Government that it needs to amend proposed new financial product design and distribution laws to exclude intervention in produc...

Financial planning

Advice carve-outs undermine RC findings, says ISA

Industry Super Australia has accused the Government of caving into the retail banks and the wealth management sector in allowing ‘carve-outs’ from the design and distribu...

Financial planning

FPA suggests risk rating financial products

The Financial Planning Association has suggested risk rating financial products to better target consumer protections....

Financial planning

NAB supports enforceable life insurance code

National Australia Bank has signalled its support for the legal enforceability of the Life Insurance Code of Practice once all the industry parties, including superannuat...