All posts tagged "Sean Hughes"
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140Australia & NZASIC Calls for Review of Non-compliant Whistleblower Policies
Some policies inaccurately refer to obsolete requirements for whistleblowers to identify themselves or make disclosures in good faith or without malice to qualify for protection.
October 14, 2021 -
141Australia & NZAustralian Court Orders BOQ to Replace Unfair Contract Terms
Bank of Queensland has been ordered to replace unfair contract terms in all standard form contracts with small business customers entered into from November 2016.
August 16, 2021 -
398Australia & NZAustralia Delays National Consumer Credit Protection Act Reforms
Whether or not responsible lending obligations are repealed, ASIC says it will enforce lending standards as part of its focus on consumer protection.
March 29, 2021 -
862Australia & NZAustralia Launches ‘Buy Now Pay Later’ Code of Conduct
The code makes AFCA membership compulsory and incorporates ASIC’s new design and distribution obligations regime.
February 27, 2021 -
216Australia & NZ
Targeted Product Intervention to Lead to ‘Less Regulation’: ASIC
Commissioner Sean Hughes said ASIC will only need to intervene when there are signs of harm and misconduct, emphasising the checks and balances in place.
February 23, 2021 -
231Australia & NZASIC Seeks Penalties from CBA for Overcharged Interest
Due to a systems error, CBA charged more than 1,510 customers a higher interest rate than they were advised, amounting to A$2.2 million in overcharged interest.
February 17, 2021 -
1.2KAustralia & NZ
Underinvestment in Data, Tech a Root Cause of Breaches: ASIC
Underinvestment in data and technology systems creates operational risks, delays in picking up problems, and costly remediation programmes, says ASIC commissioner Sean Hughes.
November 16, 2020 -
583Australia & NZ
ASIC Issues ‘Best Interests’ Guidance for Mortgage Brokers
Starting from 1 January 2021, ASIC will be closely monitoring conduct and outcomes to ensure mortgage brokers are effectively complying with the best interests duty.
June 25, 2020 -
717Australia & NZ
ASIC Offers Clarity on Responsible Lending Obligations
ASIC has clarified when a licensee might undertake more or less detailed inquiries and verification steps based on different consumer circumstances and the type of credit being sought.
December 10, 2019 -
656Australia & NZASIC Bans Cold Call Selling of Life Insurance, CCI Products
The ban on unsolicited cold-call sales of direct life and consumer credit insurance follows a A$700,000 penalty against CBA's CommInsure for hawking offences.
December 5, 2019
