Australia
Australian banks plan major changes to commission fees
The Australian Bankers Association (ABA), which represents all the country’s major banks, has unveiled a sweeping review of product sales commissions and product based payments with a view to removing or changing them where they lead to poor customer outcomes.
The rise of investment fintech
No longer the preserve of payment solutions developers, fintech startups are gaining ground and increasingly disrupting the investment management industry.
Technology | 22 Mar 16
Australian regulator to provide ‘robo-advice’ guidance
The Australian Securities and Investments Commission (Asic) has released a draft of its proposed guidance on providing digital financial product advice services, or robo-advice, to retail clients.
Calls for reform of life commissions grow in Australia
Consumers will go on being hurt financially until commissions on life insurance are banned in Australia, and a rigorous code of conduct is in place, says Industry Super Australia (ISA), an umbrella organisation for the retirement savings industry.
Zurich buys Australian Life business from Macquarie Group
Zurich Australia, part of Zurich Insurance Group, said it has reached a deal with the Macquarie Group to buy its Australian life insurance business for an undisclosed sum.