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Finance

Key lenders promise to improve credit card practices

Credit card providers have vowed to improve their practices in the wake of a damning report that found more than one in six consumers were struggling with debt.

Finance

ASIC urges super fund safeguards to protect nest eggs

ASIC urges new rules for self-managed funds to protect consumers and their retirement nest eggs.

News

Some super trustees paid $100k a year to attend meetings

Super funds are charging billions to invest your retirement nest eggs, yet some fees are higher than returns and some board trustees are each getting $100,000 a year to attend meetings.

Finance

What the new banking code of conduct will do for you

The banks are on a mission to restore consumer faith in a battered sector with a new code of conduct.

Credit Cards

One in six credit card-holders drowning in debt: ASIC

Australia’s credit card balance is about $45 billion and one in six people are struggling with their debt, according to an ASIC report.

News

ASIC chair addresses ‘trust deficit’ in financial sector

Trust in directors, auditors, mortgage brokers and financial planners must be restored, forum told.

News

ASIC backflips on new super transparency regulations

The Australian Securities and Investments Commission has responded to feedback from the industry and will appoint an external expert to review fee transparency for super and managed investment schemes.

Insurance

Insurance defaults could be robbing your super savings

The Australian Securities and Investment Commission (ASIC) has urged superannuation trustees to change the way they apply default insurance settings.

News

ASIC crackdown on debt management misleading advertising

The Australian Securities and Investments Commission has started a crackdown on misleading advertising by debt management firms, fining one and ordering others to remove false claims.

News

Consumers warned about scam promising access to trust funds

The Australian Securities and Investment Commission (ASIC) is urging the public to be wary of cold callers claiming that their investment proceeds have been stopped by ASIC.

Banking & Investment

You could have a share in $1.1 billion in unclaimed money

Money is just lying around in dormant bank accounts, life insurance, shares and other investments waiting to be claimed by rightful owners. Is some of it yours?

Finance

New standards watchdog to oversee the financial sector

The big banks and AMP will fund a new statutory body that will mandate professional standards for financial advisers, in a move towards restoring faith in the financial advisory industry.

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