September 26, 2016
In August this year, The Supreme Court of New South Wales found that Macquarie Investment Management Ltd contravened the Corporations Act by failing to comply with its duties as a responsible entity of the van Eyk Blueprint International Shares Fund. The Court made declarations of contravention and ordered that MIML pay a civil pecuniary penalty of $400,000, as well as $200,000 for ASIC's legal costs.
ASIC Commissioner Greg Tanzer joins the podcast to talk about the case and why ASIC considers it such an important outcome.
You can read ASIC's media release on the outcome here
Please note the judge's comments that Greg quotes in the podcast are slightly abridged. The full comments are available via the link at the bottom of the media release.
September 11, 2016
ASIC has reviewed the sale of add-on general insurance policies through car dealers and found that the market is failing consumers. ASIC Deputy Chairman Peter Kell joins the podcast to discuss the report.
The report can be viewed here.
The media release can be viewed here.
More information on add-on insurance can be found at ASIC's MoneySmart website.