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Showing 1031 - 1040 of 4381 results for "Commonwealth"

Mortgage broker trail commissions to stay

KANIKA SOOD  |  WEDNESDAY, 13 MAR 2019
... Australia are settled through 16,000 brokers, Frydenberg said. The channel accounts for almost 40% of all loans at Commonwealth Bank and 55% at ANZ but some banks have shown they don't need to rely on the channel. An example is Bendigo and Adelaide Bank ...

Banks, ASIC still at war over fees-for-no-service

HARRISON WORLEY  |  TUESDAY, 12 MAR 2019
... review was provided to financial advice customers of Count Financial, Financial Wisdom and the Pathways division of Commonwealth Financial Planning. ASIC said it strongly disagreed with the approach of those licensees, citing how CBA used customer responses ...

ASIC scolds banks over fee-for-no-service delays

HARRISON WORLEY  |  MONDAY, 11 MAR 2019
... the "further review" programs currently underway at six of Australia's largest financial institutions - AMP, ANZ, Commonwealth Bank, Macquarie, NAB and Westpac. According to ASIC commissioner Danielle Press, the institutions have taken too long to conduct ...

Super fund chief executive to retire

KANIKA SOOD  |  MONDAY, 11 MAR 2019
... the fund is hunting for a replacement. Doug Carmichael is slated to retire in June end after nine years of leading Commonwealth Bank Group Super. The news was confirmed in an update shared with CBA employees last week. The fund has now commenced the ...

Grandfathered commissions ban unconstitutional: Association

JAMIE WILLIAMSON  |  MONDAY, 4 MAR 2019
... proposed amendments to remuneration structures without any compensation to members given the radical change in the Commonwealth's position and its stated legislative intention," the announcement to members reads. "Basically, it's about contract law and ...

Former ASFA chair sees new EQT role

HARRISON WORLEY  |  MONDAY, 4 MAR 2019
... and excellent client service. Meanwhile, the trustee company appointed a former head of the office of trustee in Commonwealth Bank's wealth division to its superannuation board last week. Sue Everingham has linked with Equity Trustees Superannuation ...

APRA sets sights on 2019 targets

HARRISON WORLEY  |  FRIDAY, 1 MAR 2019
... final report even recommended a new regulatory overseer as a result. APRA chair Wayne Byres said its inquiry into the Commonwealth Bank and issues at the Royal Commission had shone light on areas in need of focus. "Financial soundness and stability remain ...

KPMG expands advice remediation team

HARRISON WORLEY  |  TUESDAY, 26 FEB 2019
... NULIS after its plan service fee debacle was revealed during Royal Commission public hearings. Earlier this month Commonwealth Financial Planning was ordered by ASIC to stop charging ongoing service fees after it failed to provide ASIC with an attestation ...

New reforms to smash major super funds

JAMIE WILLIAMSON  |  TUESDAY, 26 FEB 2019
... AustralianSuper are also expected to be impacted by the changes if legislated. The top 10 is rounded out by MLC Super, Commonwealth Bank and Cbus, based on APRA statistics for the September 2018 quarter. Rainmaker executive director of research Alex ...

ASIC flags post-RC criminal prosecutions

JAMIE WILLIAMSON  |  WEDNESDAY, 20 FEB 2019
... institutions and individual representatives. "ASIC expects these investigations to result in a number of referrals to the Commonwealth Director of Public Prosecutions for assessment for criminal prosecution," the regulator confirmed. Work on the 11 specific ...