Modernising the Telecommunications Industry Ombudsman Terms of Reference
Submission to: Telecommunications Industry Ombudsman
Related Projects
Rationalisation of Ending ASIC Instrument Measures
Submission to: Treasury
Joint submission from the financial counselling sector in response to proposals to move the current licensing exemptions applying to financial counselling agencies from ASIC legislative instruments into the primary law and regulations. The current licensing exemptions exempt financial counselling agencies from having to hold an Australian Financial Services Licence or an Australian Credit Licence, as long as the agency meets certain requirements. We support the policy intent of the proposed rationalisation, but recommend that the wording in the current ASIC instruments is replicated exactly in the new regulations, rather than introducing new terms. The submission also supports the proposal that rural financial counselling agencies are provided with an AFSL exemption.
Joint submission from the financial counselling sector in response to proposals to move the current licensing exemptions applying to financial counselling agencies from ASIC legislative instruments into the primary law and regulations. The current licensing exemptions exempt financial counselling agencies from having to hold an Australian Financial Services Licence or an Australian Credit Licence, as long as the agency meets certain requirements. We support the policy intent of the proposed rationalisation, but recommend that the wording in the current ASIC instruments is replicated exactly in the new regulations, rather than introducing new terms. The submission also supports the proposal that rural financial counselling agencies are provided with an AFSL exemption.
Joint consumer submission (Consumer Action, Financial Rights, FCA and Choice) – Exposure Draft consultation on the Corporations Amendment (Design and Distribution Obligations) Regulations 2019
Submission to: Financial Services Reform Taskforce, Treasury
We support DADOs applying as broadly as possible to reduce the number of loopholes in the law (a problem called out in the Financial Services Royal Commission). For example, DADOs should apply to buy now, pay later products. This submission supports the extension of DADOs to basic bank accounts. We argue that proposed exclusions for credit provided for business purposes and pawnbrokers should be removed, so that they are also included in the regime.
We support DADOs applying as broadly as possible to reduce the number of loopholes in the law (a problem called out in the Financial Services Royal Commission). For example, DADOs should apply to buy now, pay later products. This submission supports the extension of DADOs to basic bank accounts. We argue that proposed exclusions for credit provided for business purposes and pawnbrokers should be removed, so that they are also included in the regime.