Recommendation 7.1 – Compensation scheme of last resort The three principal recommendations to establish a compensation scheme of last resort made by the panel appointed by government to review external dispute and complaints arrangements made in its supplementary final report Read More …
Tag: complaint
Consumer themes
Concerns were consistently raised in relation to funeral insurance products, access to superannuation benefits and entitlements, consumer lending and banking fees and practices. Another primary issue of concern was access to financial products and services for Aboriginal and Torres Strait Read More …
Submissions by complaint type
The Commission also invited information about experiences in dealing with complaints and dispute resolution mechanisms, including satisfaction with the outcome of any complaint they had made. Of the 10,323 submissions received from the public: 7,552 (73%) indicated that they had Read More …
9.3 What the case study showed
9.3.1Ms Murphy’s claim In his evidence in relation to Ms Murphy’s claim, Mr Storey accepted that: Youi failed to handle Ms Murphy’s claim in an honest, fair and transparent manner, as required by clause 7.2 of the General Insurance Code Read More …
Introduction
In its public hearings, the Commission focused upon the life insurance and general insurance industries, not on the marine or health insurance industries. This focus was consistent with the complaints made to the Commission, with the misconduct and conduct falling Read More …
4.2 A new approach to discipline
As I said at the start of this section of the chapter, a coherent system of professional discipline must be established for financial advisers. The system should have the following key features. First, each financial adviser should be individually registered. Read More …
Introduction
The third matter that emerged in connection with the provision of financial advice related to the disciplinary system for financial advisers. That system now consists of a number of bodies, each directed at regulating different, though related, norms of behaviour, Read More …
An addendum: Bankwest
Chapter 5 of the Interim Report – Bankwest and CBA – set out my conclusions about complaints that have been made regarding CBA’s conduct in respect of customers who had borrowed from Bankwest before CBA acquired Bankwest in 2008. I Read More …
Preface
This is the Final Report of the results of my inquiry, and the recommendations arising out of my inquiry, into the matters described in the Letters Patent dated 14 December 2017. It is to be read with the Interim Report Read More …