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Showing 91 - 100 of 755 results for "Compensation"

Backlash after 'unprecedented' ASIC action against Westpac

ELIZABETH MCARTHUR  |  THURSDAY, 2 DEC 2021
... Independently Owned Finance Professionals (AIOFP) has written to parliamentarians lobbying for them to reconsider the Compensation Scheme of Last Resort (CSLR) in light of these Westpac cases. "Westpac, the largest donor with a former executive running ...

Plaintiff seeks to ring fence Dixon penalty

KARREN VERGARA  |  THURSDAY, 25 NOV 2021
... hearing of this important application did not proceed today. The intent of the provision is to ensure that facilitating compensation for victims is given preference over the payment of penalties, if there is a risk that a defendant cannot do both." He ...

Hume throws shade at trustee rainy day funds

KARREN VERGARA  |  MONDAY, 22 NOV 2021
... regulators to take action. And the Parliament might too," Hume warned. Elsewhere in her speech, Hume assured that the Compensation Scheme of Last Resort does not let banks off the hook. CSLR, which covers unpaid compensation awarded as a result of misconduct ...

Government advances adviser levy drop

KARREN VERGARA  |  THURSDAY, 11 NOV 2021
... regulatory reforms making their way through the Parliament, including the introduction of a Single Disciplinary Body and a Compensation Scheme of Last Resort," treasurer Josh Frydenberg and senator Jane Hume said at the time.

Major legislations hit parliament

KARREN VERGARA  |  FRIDAY, 29 OCT 2021
Two major pieces of legislation have been introduced in parliament, including the Compensation Scheme of Last Resort. The scheme facilitates the reimbursement of up to $150,000 to compensate consumers affected by bad personal advice, credit intermediation ...

Sally Loane resigns as FSC chief

JAMIE WILLIAMSON  |  FRIDAY, 22 OCT 2021
... included initiating life insurance's Trowbridge Review, developing the life Codes, and advocating for a sensible Compensation Scheme of Last Resort," she said. "I have enjoyed working collaboratively with industry organisations here and overseas ...

Industry calls for expanded CSLR

ANNABELLE DICKSON  |  WEDNESDAY, 6 OCT 2021
Professional associations and consumer groups have banded together to lobby for a stronger compensation scheme of last resort ahead of its expected legislation in the coming weeks. The Financial Planning Association of Australia, Association of Financial ...

Hume puts finfluencer followers on notice

KARREN VERGARA  |  TUESDAY, 21 SEP 2021
... Jane Hume is warning consumers who fall victim to bad advice from finfluencers not to rely on the government for compensation. Speaking on the first day of the Association of Financial Advisers national conference, the minister for superannuation, financial ...

FSC suggests CSLR improvements

KARREN VERGARA  |  MONDAY, 20 SEP 2021
The Financial Services Council has highlighted numerous holes in the Compensation Scheme of Last Resort in a bid to prevent financial advisers that "have done nothing wrong" from paying for the scheme. The FSC is calling on corporate regulator ASIC ...

Criminal charges filed against CBA

ELIZABETH MCARTHUR  |  FRIDAY, 17 SEP 2021
... the charges and has agreed a statement of facts with ASIC and the CDPP," the bank said. CBA added that it has sent compensation to the 165 customers who are the subject of these proceedings and that it apologises and accepts the conduct was unaccepta ...