Dealer Bulletins
ASIC Acts To Address Flex-Commissions In Car Finance Market
On Friday 3 March 2017 ASIC announced that it will prohibit flex-commission in the car finance market but will still allow lenders to pay other types of commissions to car…
Flex-Commissions
This afternoon ASIC released its proposals on flex-commissions paid to Dealers by financiers. The ASIC documents can be viewed here. AADA is examining the documents and will issue a detailed…
Good news from the ACCC at last
Our persistence and advocacy is paying off. The ACCC today brought down its draft determination to deny authorisation of cartel behaviour sought by 16 insurance companies seeking to impose a…
Federal regulatory impact on high-value dealers under anti-money laundering and counter terrorism financing act 2006 (aml/ctf act)
The AML/CTF Act provides the means to help detect and deter money laundering and terrorism financing. It also provides financial intelligence to revenue and law enforcement agencies. Businesses must meet…
ASIC recommends approval of insurance industry cartel proposals
ACCC likely to implement 20% cap and other actions in 2017 Last month ASIC reviewed the insurance industry’s application to institute a voluntary code to regulate commissions and other matters…
Carsguide.com.au
We are writing to advise you about an important change to the competitive landscape in the internet lead management space and across related dealer support services. The existing Carsguide.com.au joint…
Australian Consumer Law Review Interim Report Released
On 14 October 2016, Consumer Affairs Australia and New Zealand (CAANZ) presented the Interim Report on the Australian Consumer Law (ACL) Review. The Interim Report follows the ACL Review Issues…
ASIC proposed prohibition on flex-commissions
AADA sub-committee was formed following release of ASIC’s 1st consultation paper in late 2015. Sub-committee consists of specialists in F&I including AP Eagers, AHG, Dealers, BDO and HWLE Lawyers. Confidential…
Aussie car costs among the most affordable in the world
Auto Express UK released a report on 1 September 2016 titled “Car running costs: how much does it cost to run a car around the world?” It teamed up with…
AADA response to ASIC’s second consultation paper proposal to ban flex-commissions on motor vehicle finance
Dear Dealer Principals and Colleagues ASIC released its initial consultation paper on 4 December 2015 and AADA lodged a detailed response to ASIC on 11 March 2016. It included detailed…
