Joint consumer group submission (led by Choice) arguing that commissions in the sale of life insurance, general insurance and consumer credit insurance should be banned, as these create conflicts of interest that lead to poor quality advice. The proposal from the Quality of Advice review to instead improve disclosure does not address this fundamental problem.
221109 - Joint consumer submission to the Quality of Advice Review - Conflicted RemunerationConflicted Remuneration
Submission to: Quality of Advice Review
Related Projects
Second Exposure Drafts of the Religious Freedom Bills
Submission to: Attorney-General's Department
It should go without saying that we support the principle that people should not be subjected to discrimination on the basis of their religion. But we have concerns with the bills in their current form. They have two implications for financial counselling. First, that they would allow people to make statements that would be seen as judgemental. This is contrary to the principles of the financial counselling profession. Second, in relation to employment, the draft laws would allow religious bodies to give preference to members of their own religion.
It should go without saying that we support the principle that people should not be subjected to discrimination on the basis of their religion. But we have concerns with the bills in their current form. They have two implications for financial counselling. First, that they would allow people to make statements that would be seen as judgemental. This is contrary to the principles of the financial counselling profession. Second, in relation to employment, the draft laws would allow religious bodies to give preference to members of their own religion.
Review of the ePayments Code
Submission to: ASIC
Submission from the Consumers Federation of Australia (endorsed by FCA and a number of other consumer organisations) in relation to the ePayments Code. The submission raises concerns about screen scraping, that the code does not address scams and inadequate checks from ADIs to reduce mistaken payments. It is positive that the code will allow for consumer complaints to the Australian Financial Complaints Authority.
Submission from the Consumers Federation of Australia (endorsed by FCA and a number of other consumer organisations) in relation to the ePayments Code. The submission raises concerns about screen scraping, that the code does not address scams and inadequate checks from ADIs to reduce mistaken payments. It is positive that the code will allow for consumer complaints to the Australian Financial Complaints Authority.