Entries by Dilip

Market conduct regulation in USA

Regulators have historically sought to enhance a customer’s understanding of the products they purchase, imposing prescriptive requirements for disclosure, as well as setting professional standards for sales advisers. The goal is to rebalance the ‘information asymmetry’ – however, issues have continued to arise. An essential component of insurance regulation is the appropriate oversight of the […]

Cost of Conduct according to the Centre for Banking Research (CBR)

Below are some of the highlights of the Conduct costs project launched by the Centre for Banking Research. You can find the full report here https://www.city.ac.uk/news/2020/september/centre-for-banking-research-launches-conduct-costs-project   The CBR Conduct Costs Project aims to foster transparency in financial activity and to deliver a category of benchmarking, which comprises the level of conduct costs and the […]

What is AFCA Insights

Cognitive View’s AFCA Insights is an independent service that provides insights from AFCA’s historical complaint management data. This allows firms to learn and get a deeper understanding of past and emerging complaint patterns, AFCA’s decisions making approaches, and actionable insights to support the exiting IDR processes and respond efficiently for AFCA’s lodged complaints. This service […]

AFCA’s Complaint Resolution Approach

While assessing complaints, the AFCA considers what is fair in all the circumstances having regard to: legal principles, applicable industry codes or guidance, good industry practice and previous relevant Determinations of AFCA or predecessor Schemes   AFCA identifies the relevant legal principles and takes them into account. Legal principles are drawn from relevant legislation (e.g. […]