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ASIC calls out insurers, super funds for selling ‘junk’ TPD insurance
Insurance October 17, 2019 5:09 pm By Amelia Birnie

AMP, Asteron and Westpac have been singled out by ASIC for having higher than expected decline rates for total and permanent disability life insurance claims, […]

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ANZ says ASIC overreaching in case over ‘periodical payment’ fees
Financial Services October 15, 2019 9:17 pm By Miklos Bolza

ANZ has rejected allegations by the financial regulator that $35 million in fees charged to customers for periodical payments between accounts was unlawful, saying the […]

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ANZ to set aside additional $485M for post Hayne customer remediation
Financial Services October 8, 2019 11:08 pm By Cat Fredenburgh

ANZ has announced it will set aside an additional $485 million to remediate customers affected by its fees and interest calculations, just days after NAB […]

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Westpac gives court more reasons to uphold win in ASIC’s responsible lending case
Appeals October 7, 2019 1:41 pm By Miklos Bolza

Westpac has offered an appeals court two more reasons to affirm its victory in a closely watched responsible lending case brought by the Australian Securities […]

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ASIC’s belated case against ex-Murray Goulburn execs survives, but judge says never again
ASIC October 4, 2019 10:05 pm By Christine Caulfield

A judge has refused a bid by two former Murray Goulburn executives to throw out a disqualification case brought by the Australian Securities and Investments […]

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After ASIC raises ire, judge sets down new rules for regulators in his court
ASIC October 4, 2019 10:46 pm By Christine Caulfield

ASIC and other government regulators bringing enforcement action in the docket of one Federal Court judge must abide by a strict new protocol to prevent […]

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CBA unit hit with criminal charges over insurance hawking
Insurance October 4, 2019 1:49 pm By Cat Fredenburgh

Commonwealth Bank of Australia’s insurance unit, CommInsure, is facing 87 criminal charges for allegedly hawking life insurance products in unsolicited telephone calls. The Colonial Mutual […]

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Insurance director’s royal commission comments create ‘forensic challenge’ in ASIC case, judge says
Insurance October 4, 2019 8:35 pm By Miklos Bolza

Comments made by the director of three firms accused of pushing life insurance onto vulnerable consumers during the banking royal commission may come back to […]

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ASIC can use PwC partner’s evidence in case against Rio Tinto
ASIC October 3, 2019 8:20 pm By Cat Fredenburgh

The Australian Securities and Investments Commission has won its bid to use evidence from US proceedings in its case against Rio Tinto alleging the mining […]

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Cigno takes ASIC to court in challenge to ‘predatory’ lending ban
Financial Services September 27, 2019 11:05 pm By Christine Caulfield

Payday lender Cigno is appealing the Australian Securities and Investments Commission’s first action under new powers to ban financial products that targeted its model of […]

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