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| | | ... submission to the commission to defend its behaviour, saying the use of private investigators for surveillance purposes is not a breach of the good faith duty. In its review of direct life insurance, ASIC found sales practices and products are commonly ... |
| | | | ... characteristics". "Our model is unique in that we provide a free service to customers if payments are made on time, we do not charge interest or monthly fees, our instalment periods are short, and if payments aren't made on time we immediately suspend ... |
| | | | ... the year, NAB had to compensate about 245,000 clients who were charged adviser services fee and plan service fees despite not providing any services. The bill was to be about $42 million. This week, it topped up its provisions by $314 million, flagging ... |
| | | | ASIC is set to review banking and financial literacy programs in Australian primary schools, including Commonwealth Bank's recently criticised Dollarmites program. ASIC said school banking programs are supposed to educate young Australians about the ... |
| | | | ... budget deficit, geo-politics (Saudi Arabia), emerging market currency depreciation and so on. Needless to say, Australia is not immune to these nasty developments and would surely be dragged down should more of these wicked somethings this way comes. ... |
| | | | Amid the major banks lowering their lending participation rates, Qualitas sees a boom in the private debt real estate segment over the medium term. Speaking at a media briefing on Monday, Qualitas group managing director Andrew Schwartz said private ... |
| | | | ... reform has been mostly discredited in a report subsequently issued by ASIC in July that acknowledged it unfairly penalised not-for-profit (NFP) funds. Still, an estimated $2.2 billion in the total fees paid increase is attributable to these changes ... |
| | | | APRA is helping authorised deposit-taking institutions brace for the Banking Executive Accountability Regime, which is set to take effect on 1 July 2019. The prudential regulator released guidance for the smaller players in the banking and finance industry ... |
| | | | BT Financial Group is expanding its divestment from tobacco and controversial weapons. The firm is extending its ESG exclusion framework to investment mandates for internally managed investments, saying customers demand sustainable investing that aligns ... |
| | | | About 56% of consumers and more than a third of SMEs feel the revelations of the Royal Commission have had no impact on the way they interact with their financial adviser. New research from MetLife shows the Royal Commission has had no impact on the ... |
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