22 May 2023
The Federal Court has handed down its judgment in civil penalty proceedings against AMP Group over the deduction of life premiums and advice fees from the superannuation accounts of more than 2000 deceased customers...
22 May 2023
The Federal Court has ordered MLC to pay a $10 million penalty over its failure to provide promised rehabilitation benefits to more than 100 eligible policyholders...
22 May 2023
The Advisers Association (TAA) has flagged concerns that proposed financial adviser education reforms may leave consumers more confused...
22 May 2023
TAL has launched a learning and development platform offering its superannuation fund partners access to on-demand education and training to support their teams...
22 May 2023
Former Synchron chair Michael Harrison died yesterday in Melbourne after a long illness...
22 May 2023
The Financial Services Council (FSC) has appointed Colonial First State Superannuation CEO Kelly Power as board member.
15 May 2023
The Australian Securities and Investments Commission (ASIC) has commenced Federal Court civil proceedings against HCF Life over alleged unfair contract terms (UCT) breaches in three types of policies offered to its members...
15 May 2023
Financial Services Minister Stephen Jones has provided a sketch of his plans for the Quality of Advice Review final report recommendations, indicating priority will likely be given to those that can progress through Parliament more “quickly” than other “controversial” proposals...
15 May 2023
AustralianSuper will be refunding $70 million to members after a review of its processes for managing multiple accounts found “not all” accounts were covered, meaning affected members have possibly been overcharged for insurance and other fees...
15 May 2023
The Australian Financial Complaints Authority (AFCA) has ruled an insurer misled a complainant in annual statements mailed to him, by failing to state in the documents that he will not be covered for heart attacks after age 70...
15 May 2023
Industry reactions to the Federal Budget have been mixed, with life insurers welcoming the Albanese Government’s measures to ease living cost measures and financial advisers saying they hope for more clarity soon on the Australian Securities and Investments Commission (ASIC) levy...
08 May 2023
Quality of Advice reviewer Michelle Levy has urged the Federal Government to take up her recommendations and work on any changes to the proposed measures, if they are needed, at a later stage.
08 May 2023
The recent ruling by the Full Federal Court in relation to fraudulent misrepresentation in a group insurance dispute has been interpreted as a positive outcome for life insurers who provide cover through agreements with super funds.
08 May 2023
The Australian Financial Complaints Authority (AFCA) has upheld the decision made by a trustee to cancel the insurance of a fund member as mandated by law, after her account became “inactive”.
08 May 2023
MLC Life Insurance says Endo Hiroyuki has started as Chief Investment Officer and Deputy CFO, joining from Nippon Life which owns 80% of the Australian business.
01 May 2023
Timing is everything and for Australian life insurers, the decision to create a new peak body in June last year underscores the industry’s commitment to address the evolving landscape after the Hayne royal commission in 2018...
01 May 2023
Life insurers have urged the Albanese Government to recognise the importance of life insurance as part of the objective of superannuation in a submission to a Treasury consultation...
01 May 2023
ClearView Wealth announced today the appointment of Nadine Gooderick as CEO, effective July 1, taking over the reins from MD Simon Swanson who is retiring after 12 years leading the business...
01 May 2023
The Financial Services Council (FSC) has urged the Federal Government to prioritise proposed reforms as outlined in the Quality of Advice Review final report...
01 May 2023
Life insurer TAL is introducing a new education program to help advisers understand the Financial Planners and Advisers Code of Ethics...