Where possible, conflicts of interest and conflicts between duty and interest should be removed. There must be recognition that conflicts of interest and conflicts between duty and interest should be eliminated rather than ‘managed’. Several recommendations deal with conflicts of Read More …
Tag: conflicts of interest
Recommendations: Answering the key questions
As I have already said, I think it useful to restate and reorder what I have set out above so that the reader can see the way in which particular recommendations fit together. Restated and reordered below, the recommendations seek Read More …
Background Papers and Research Paper
Appendix 7 includes copies of the Background Papers and Research Paper, as listed in the following table. Each of these Background Papers and Research Paper can be found on the Publications page of the Commission’s website. Title of Background Paper Read More …
Submission themes
The following summaries provide further analysis of the key themes or conduct that was raised in public submissions received by the Commission. Figure 15: Insurance submissions: Key themes Claims handling The Commission received over 430 submissions that primarily focused on Read More …
Submission themes
The following summaries provide further analysis of the key themes or conduct that was raised in public submissions received by the Commission. Figure 7: Financial advice submissions: Key themes Inappropriate financial advice Over 250 submissions related to financial losses or Read More …
Submission themes
The following summaries provide further analysis of the key themes or conduct that was raised in public submissions received by the Commission. Figure 5: Consumer lending and personal finance submissions: Key themes Responsible lending The Commission received over 990 submissions Read More …
8.3 What the case study showed
Mr Bessell accepted that consumers were sold products that were of questionable or little value to them, and that the products could have been better explained by the dealers.[1] Mr Bessell agreed that the number and complexity of the products Read More …
8.2 Evidence
Mr Bessell described the relationship between IAG and Swann as a ‘devolved business model’,[1] where Swann was effectively a standalone business.[2] However, the person with ultimate responsibility for Swann was the head of the IAG division in which Swann sat,[3] Read More …
4.3 What the case study showed
This case study showed how TAL had dealt with separate claims under three income protection policies. The claimants had different medical conditions. The case study raised several broader questions about TAL’s policies and procedures. Much of TAL’s conduct was rightly Read More …
2.3 What the case study showed
2.3.1Misconduct In its submissions to the Commission, Freedom suggested that in circumstances where ASIC was reviewing Freedom’s practices, ‘ASIC might be considered the more appropriate body to review and make final determinations regarding the past conduct of Freedom Insurance [than Read More …