Brief: Australia's ASIC Issues First Stop Order For A Life Insurance Product

Clearview Wealth

18/07/2023 07:06

July 18 (Reuters) - Australia's ASIC: 
    * ASIC ISSUES FIRST STOP ORDER FOR A LIFE INSURANCE PRODUCT
    * ISSUED INTERIM STOP ORDER CLEARVIEW LIFE ASSURANCE'S
CLEARVIEW
CLEARCHOICE INCOME PROTECTION COVER AND ACCIDENTAL INCOME
PROTECTION COVER
    * CONSIDERING FURTHER STOP ORDERS FOR OTHER INSURANCE
PRODUCTS
    * ISSUED STOP ORDER ON ON CLEARVIEW LIFE ASSURANCE'S
PRODUCTS
BECAUSE OF DEFICIENCIES IN TARGET MARKET DETERMINATION
    * INTERIM ORDER STOP CLEARVIEW LIFE FROM ENGAGING IN RETAIL
PRODUCT DISTRIBUTION. PROVIDING GENERAL ADVICE IN RESPECT OF
PRODUCT FOR NEW CUSTOMERS
    * INTEIRM ORDER ON CLEARVIEW LIFE ASSURANCE'S PRODUCTS VALID
FOR
21 DAYS UNLESS REVOKED EARLIER
    * EXPECTS CLEARVIEW LIFE TO CONSIDER CONCERNS RAISED
REGARDING
TARGET MARKET DETERMINATION AND TAKE IMMEDIATE STEPS TO ENSURE
COMPLIANCE

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