In the context of an emerging industry, the question of financial safety is also relevant.
The Australian Securities and Investments Commission (ASIC) recently announced a number of new guidelines aimed at making it easier for consumers to understand and monitor financials in the industry.
These include a series of new Consumer Financial Protection Bureau (CFPB) consumer protections aimed at helping consumers understand their rights, make informed decisions, and make informed choices.
As well as helping to keep Australians safe, these new guidelines have the potential to help to protect the Australian economy as well.
The Financial Industry Regulatory Authority (FIRA) recently released the following new guidance, which was issued in the wake of the massive cyber attack on the Australian Stock Exchange.
The document covers the financial sector, with emphasis on the investment industry.
This information is intended to be useful and is not intended to constitute legal advice.
The information is available in English and in other languages, and the FIRA provides further information in the sections entitled ‘Financial services’, ‘Investment banking’, and ‘Other’ for information about the information contained in each section.
In summary, the new guidance makes it easier to understand financials from a consumer’s point of view.
The guidance outlines the new CFPB consumer protection regime, and also includes new protections for investment banks and mutual funds.
It also outlines the types of products, services, and transactions that may trigger a consumer complaint under the consumer protection provisions.
These consumer protections provide for clearer and more transparent consumer advice and support, and help to ensure that consumers have confidence in the financial services industry.
The guidance also outlines a range of safeguards to protect consumers against fraud and unlawful conduct.
The FIRA also advises consumers to be cautious when choosing which financial product or service to purchase.
This guidance also encourages consumers to exercise their discretion in making their financial decisions.
It also encourages people to exercise caution in making decisions about investments and financial products.
The CFPBs guidance is aimed at ensuring that consumers are aware of the new consumer protection protections and the rules they are expected to follow in the investment and investment banking sectors.
This includes:Financial Industry Regulatory Authorities are working closely with ASIC and the Commonwealth Bank of Australia to ensure they have all the information they need to inform and assist their customers.
The full CFPBC Consumer Protection guidance is available here