Consumer Advisory Panel (CAP) of ASIC
It was established in 1998. Its role is to advise ASIC on current consumer protection issues and give feedback on ASIC policies and activities. It also advises the ASIC on key consumer research and education projects. The members of CAP from across Australia meet quarterly at ASIC's offices in either Sydney or Melbourne.
CAP projects includes:
- Stocktake of consumer education material;
- A survey of consumer views on disclosure of bank transaction fees;
- A research report on ‘What is effective consumer education?';
- Production of a Financial Services Network Directory to facilitate consumer consultation;
- A guide to communicating effectively with groups from non-English speaking background;
- The translation of the consumer guides ‘You Can Complain' and ‘Super decisions' into Arabic, Vietnamese and Chinese;
- Research report: Consumer decision-making at retirement; and
- Research report: Treating customers fairly - A review of the UK's Treating Customers fairly initiative and its potential for application in the Australian Financial Services industry.