The Australian Financial Complaints Authority (AFCA) has submitted its feedback on two ASIC consultations on banning cold-call sales of direct life insurance and consumer credit insurance (CCI), and proposed changes on internal dispute resolution (IDR).
AFCA said it strongly supports ASIC’s proposed ban of unsolicited telephone sales of direct life insurance and CCI, as it would help protect consumers “against predatory sales tactics and being sold unsuitable and inappropriate financial products.”
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