Medcraft addresses ASIC's NAB responseBY ALEX BURKE | THURSDAY, 26 FEB 2015 11:50AMIn his opening statement to the Senate Economics Legislation Committee, ASIC chair Greg Medcraft addressed the recent media coverage of NAB Wealth's compensation to its advice clients.
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Would an annual exam, like the one proposed by a number of "commentators", including Medcraft, have prevented the latest NAB debacle?
Of course not....wake up...it's up to the licensee and the regulators to monitor the activities of those working in the industry to ensure that this sort of behaviour is stamped out.