fbpx
Skip to main content
New Financial Assistance Hub

ABA welcomes ASIC expansion of customer remediation

16 September 2016

Sydney, 15 September 2016: The Australian Bankers’ Association has welcomed the Australian Securities and Investments Commission’s guidance on customer remediation programs released today. 

“We are pleased that ASIC has confirmed in its guidance that remediation programs can apply to all financial advice and products,” ABA Executive Director – Retail Policy Diane Tate said.

“It is important that customers who are impacted by inappropriate advice are treated in a consistent way, irrespective of the type of advice received or the financial product.

“For example, remediation programs can apply in relation to basic banking products, not just with financial advisers giving advice on complex products,” Ms Tate said.

ENDS

Contact: Stephanie Arena 0477 470 677

@austbankers

bankers.asn.au

Latest news

1 / 3
Media Releases
New scams prevention framework key to winning war against scammers 
7 November 2024

The ABA welcomes the introduction into the Parliament of critical scam fighting legislation to better protect Australians.   ABA CEO Anna Bligh said the Federal Government’s proposed Scams Prevention Framework is the best way forward to prevent, detect, report, disrupt and respond to scams.   “This is an important step forward in our ongoing work to scam-proof… Read more »

Read more
Media Releases
Banks stand ready to support Far West NSW communities impacted by recent storms 
1 November 2024

Banks stand ready to support Far West NSW communities hit by recent storms and ongoing power outages.   ABA CEO Anna Bligh acknowledged that many households and businesses in the Far West were still feeling the effect of this severe weather event.   “My message to customers in these communities, is please reach out to your bank… Read more »

Read more
Media Releases
Keeping banking customers safe from financial abuse
1 November 2024

Customer safety will be front and centre when banks design their products and services under a new global leading initiative launched today by the Australian Banking Association, in partnership with Westpac. The new Safety by Design toolkit, developed by Westpac and made accessible to the sector, will give banks access to more guidance to ensure… Read more »

Read more