financial services

• Personal injury lawyers and the audit of the NSWTAG

  22nd Jun 2023

  Financial advisor Jane Campbell expresses concerns about inadequate government funding and poor levels of service impacting some of NSW's most vulnerable people – concerns reinforced after reading the recent NSWTAG Performance Audit, concerns that reverberate across all states and territories. 

• Assessing disability claims fairly

  3rd Jun 2021

  Liam Hanlon and Dr Benjamin Koh discuss two major outcomes from the Banking Royal Commission for insurance claims assessors, including the requirement of an Australian Financial Services Licence and the statutory obligation of utmost good faith. These outcomes set a higher legal standard for claims assessors to operate fairly and provide valuable consumer protections to those claiming disability benefits.

• Consumers let down as Govt fails to action Banking RC two years after findings released

  1st Feb 2021

  Super fund members, bank customers and insurance policy holders have all been let down by the Federal Government’s failure to implement the recommendations of the Financial Services Royal Commission at the second anniversary of the release of Commissioner Hayne’s findings, says the Australian Lawyers Alliance (ALA)

• ASIC’s loss to Westpac is terrible for everyone

  3rd Sep 2020

  Despite its Federal Court loss in Australian Securities and Investments Commission v Westpac Banking Corporation [2020] FCAFC 111, ASIC was right to appeal the dismissal of its responsible lending case, says Andy Schmulow. He discusses how this case has exposed the deficiencies of the purported remedy for reckless lending and advocates for urgent legislative reform.

• COVID-19 financial losses highlight urgent need for Compensation Scheme of Last Resort

  16th Apr 2020

  Consumers who have received negligent financial advice need a Compensation Scheme of Last Resort now more than ever as financial losses are amplified by the COVID-19 economic crisis, says the Australian Lawyers Alliance (ALA).

• Can fintechs lessen financial stress for low-income employees?

  16th Jan 2019

  An exploration of ‘employer-based’ fintechs and how the impact of their services may be a win-win for both financially stressed employees and cost-conscious employers.