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One of the Hayne's Royal Commission recommendations was to make the handling and settling of insurance claims a “financial service”. Schedule 7 to the Financial Sector Reform (Hayne Royal Commission Response) Act 2020 (Act) Act 2020 amends Chapter 7 of the Corporations Act to apply the financial services regime to insurance claims handling
The Financial Sector Reform (Hayne Royal Commission Response) Bill 2020 has been passed by the Federal Parliament, addressing 20 recommendations and one additional commitment from the Hayne Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry
ASIC has released a draft information sheet on insurance claims handling and settling
The Federal Court has declared that Youi Pty Ltd (Youi) breached its duty of utmost good faith
ASIC has released a consultation paper seeking feedback on a new protocol for financial advisers
Reforms arising from the Royal Commission into Misconduct in Financial Services have been tabled in the Federal Parliament
The Royal Commission into National Natural Disaster Arrangements has published its final report
The National Insurance Brokers Association (NIBA) has responded to a consultation paper issued by ASIC in relation to the Design and Distribution Obligations (DDO) legislation.
ASIC has issued a consultation paper titled Implementing the Royal Commission recommendations: Advice fee consents and independence disclosure.
ASIC and APRA announce that regulatory projects will be postponed for the time being, as the key regulatory agencies concentrate on the impact of COVID-19.