Despite fears under the first draft QAR bill, ASIC has confirmed that it does not expect superannuation trustees to check every Statement of Advice. ...

The Federal Court has issued a seven-figure penalty against Lanterne Fund Services, a wholesale licensee which operated as a ‘licensee for hire’. ...

ASIC commissioner, Alan Kirkland, has told Money Management that licensees and financial advisers could be in breach of the law and face civil penalties if they fail to m...

Consumer group CHOICE says the timeshare industry is now on notice following the Federal Court’s first-ever decision against a timeshare provider for failing to ensure fi...

The examples of failed managed investment schemes have reopened the question around the Government’s proposed model for a Compensation Scheme of Last Resort, writes Oksan...

Eight consumer groups have united with eight industry bodies in opposition to the compensation scheme of last resort (CSLR) legislation in its current form....

Australia’s Big Four banks have been rated on their COVID-19 responses by consumer advocate Choice, with ANZ performing the worst. ...

A coalition of consumer groups has pointed to key changes to advice and life insurance resulting from the Royal Commission and insisted on no loopholes and no carve-outs....