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Showing 51 - 60 of 188 results for "Fairness"

Advice complaints low: AFCA

ELIZABETH MCARTHUR  |  WEDNESDAY, 19 FEB 2020
... insolvent financial firm - he did not specifics what kind of financial service he firm was providing. He revealed AFCA's Fairness Tool, a new tool the authority will be disseminating to financial firms, with the aim of clarifying how it handles claims ...

AFCA reveals approach to Code of Ethics compliance

JAMIE WILLIAMSON  |  FRIDAY, 29 NOV 2019
... they act in a way that is consistent with the values and standards expected of a member of a profession, Smith said. "Fairness underpins everything we do at AFCA. In assessing what is a fair resolution of any complaint, AFCA will assess whether the financial ...

FASEA exam tips from those who passed

ELIZABETH MCARTHUR  |  THURSDAY, 28 NOV 2019
... However, he countered concern on this point by saying that FASEA and exam partner Acer have put emphasis on ensuring the fairness of questions. And, Glenfield cleared up a point on the marking of the exam. "There's no targeted pass rate for the exam. ...

Remediation bill tops $10b: ASIC

ELIZA BAVIN  |  MONDAY, 18 NOV 2019
... Chester said "doing the right thing", particularly when dealing with non-financial risks, is a commercial "must have". "Fairness, doing the right thing, can and should be seen to create commercial value. Intangible assets such as reputation, IP and customer ...

AFCA delivers $185m in compensation

ELIZABETH MCARTHUR  |  FRIDAY, 1 NOV 2019
... brings their complaint to AFCA," AFCA chief executive and chief ombudsman David Locke said. "We take our commitment to fairness and independence very seriously, and where possible we encourage the financial firm and complainant to resolve the matter ...

FASEA clears up code of ethics

ELIZA BAVIN  |  MONDAY, 21 OCT 2019
... and professionalism in the financial advice industry." The five values include trustworthiness, competence, honestly, fairness and diligence, which FASEA said are paramount and all provisions much be applied in a way that promotes these values. The guidance ...

UK insurer fined for annuity sales failings

ELIZA BAVIN  |  TUESDAY, 1 OCT 2019
... customers. Prudential is now rightly focused on redress and today's financial penalty reinforces the cardinal obligation of fairness that firms owe to customers." Prudential apologised to customers and said it hopes to compensate most of the 35,000 people ...

Complex retirement system requires simplicity: Report

KARREN VERGARA  |  WEDNESDAY, 21 AUG 2019
... assets could allow for consistency between high and low yielding assets, and prevent gaming the system, so contributing to fairness and efficiency," the report said. The Institute noted the lack of government coordination should be addressed as this ...

Standard Life Assurance fined for hawking non-advised annuities

KARREN VERGARA  |  WEDNESDAY, 24 JUL 2019
... of 2019. FCA executive director of enforcement and market oversight Mark Steward said SLA's controls needed to place fairness to customers at their heart. "Here, the financial incentives available to staff for selling non-advised annuities by telephone ...

AFCA delivers $83 million win

ELIZABETH MCARTHUR  |  MONDAY, 15 JUL 2019
... David Locke said the large number of complaints highlighted the importance of AFCA. "AFCA stands firmly on the side of fairness and a key part of our role is increasing transparency in the financial sector," Locke said. "We have published this report ...