Throughout February 2020, CHOICE issued a raft of joint submissions alongside consumer groups Consumer Action Law Centre, Financial Rights Legal Centre, CCLSWA, Financial Counselling Australia and more to Treasury, commenting on the exposure draft legislation relating to insurance, financial services and superannuation. The submissions aim to improve outcomes for consumers across the financial sector.
Download submissions (PDF)
- Enforceability of financial services industry codes (400kb)
- Limiting avoidance of life insurance contracts (182kb)
- Duty to take reasonable care not to make a misrepresentation to an insurer (278kb)
- Restricting the use of the term ‘insurance’ and ‘insurer’ (164kb)
- Deferred sales model for add-on insurance (1231kb)
- No hawking of insurance and superannuation products (1032kb)
- Financial Regulator Assessment Authority Bill 2020 (154kb)
- Implementation of the ASIC Enforcement Review Taskforce – Directions Power (682kb)
- Cap on vehicle dealer commissions (584kb)
- Strengthening breach reporting (728kb)
- Ongoing fee arrangements and disclosure of lack of independence (740kb)
