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NIBA CEO, Dallas Booth and legal adviser, Mark Radford discuss the big ticket items post the Financial Services Royal Commission
The Federal Government has released for consultation draft legislation to implement the 22 recommendations and two additional commitments from the Banking, Superannuation & Financial Services Royal Commission to enhance protections for consumers and small businesses and to strengthen the role of financial regulators.
Prime Minister, Scott Morrison has written to the Premiers and Chief Minister to seek their feedback on the draft terms of reference for a Royal Commission.
NIBA CEO, Dallas Booth, provides an update on Royal Commission Reforms
ASIC has commenced action in the Federal Court against RI Advice Group Pty Ltd (RI Advice) and a former financial adviser, John Doyle
The Insurance Council of Australia (ICA) has launched a new general insurance Code of Practice has been approved after one of the most extensive reviews in the Code’s 25-year history.
ASIC Chair James Shipton, has provided a second update on their actions in response to the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.
ASIC has begun civil penalty proceedings in the Federal Court against Select, BlueInc, Insurance Marketing Services Pty Ltd and director Russell Howden
The National Insurance Brokers Association (NIBA) has rejected calls by ASIC to ban commissions on general insurance products.
The Royal Commission’s Interim Report provides an early indication of the Commissioner’s concerns that have arisen out of the first four rounds of Royal Commission hearings.