Compensation Scheme of Last Resort (Financial Services Royal Commission)
Related Projects
Submission to the Code Governance Committee – Monitoring and Compliance Priorities Consultation
This document outlines feedback on the Code Governance Committee’s priorities for monitoring compliance with the General Insurance Code of Practice. We appreciate the CGC’s
focus on key issues impacting consumers and financial counsellors. We outline several recommendations to improve insurance outcomes for consumers.
Submission to ASIC – Low Cost Credit Contracts
This joint submission provides feedback on the Australian Securities and
Investment Commission’s draft regulatory guide for low cost credit contracts. Our organisations have been advocating for the regulation of BNPL products for years and
keenly await the implementation of the new legislative regime, which will reduce the risk of
people being signed up to unaffordable BNPL debts that leave them worse off. However, the
regime is novel and complex so we strongly support ASIC’s intention to provide guidance on
the laws.