Australia
Australia sets up financial complaints authority
A financial complaints authority has been established in Australia to deal with dispute resolutions, a move praised by the country’s securities and investment commission (Asic).
Landmark inquiry begins into Australia’s financial services
Australia has launched a major public inquiry into alleged misconduct in the banking, superannuation and financial services sector.
Aussie life insurer to repay A$1.5m for hard selling
An Australian life assurance firm has been ordered to repay A$1.5m after the regulator found it was using unfair and high-pressure sales tactics.
How 75% of advice clients are let down by big Australian firms
An Australian report has found 10% of clients were left “significantly worse off” after advisers at vertically integrated firms inappropriately sold them their own products.
Advisers shunned as clients seek life insurance online
Australians are increasingly turning to online research and rejecting advisers when buying life insurance, a survey has found.