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Showing 91 - 100 of 430 results for "Remediation"

AMP flags $325m performance hit

KARREN VERGARA  |  FRIDAY, 26 NOV 2021
... in the following months. AMP's share prices traded as low as $1.015 upon the announcement. The losses are on top of remediation relating to superannuation misconduct ($45m) and an adjustment for the sale of its life insurance and mature business ($65m). ...

ASIC enforces licence conditions on ASX

ANNABELLE DICKSON  |  WEDNESDAY, 24 NOV 2021
... outage in November 2020 and assign accountability to the ASX board and senior executives for the implementation of the remediation actions. Meanwhile, the conditions on ASX Clear and ASX Settlement involve appointing an independent expert to assess ASX's ...

ASIC launches remediation review

KARREN VERGARA  |  WEDNESDAY, 17 NOV 2021
A new ASIC review will force licensees to improve identifying remediation issues and rectify and compensate consumers sooner. The corporate watchdog launched a new consultation with the advice industry to ensure that AFS licensees act efficiently, honestly ...

AMP in enforceable undertaking

JAMIE WILLIAMSON  |  TUESDAY, 16 NOV 2021
... members' best interests are served. In a statement, AMP said APRA has acknowledged that it has addressed and completed remediation for several of the matters the CEU relates to. However, one matter is currently in the process of being remediated ...

Westpac profit jumps 138%

KARREN VERGARA  |  MONDAY, 1 NOV 2021
... dodgy advice rendered. To date, it has paid out $1.5 billion. King commented that the bank is progressing its customer remediation as this year saw the completion of two legacy advice programs. Throughout the year, Westpac closed its offices in Mumbai ...

CBA pleads guilty to selling junk insurance

ANNABELLE DICKSON  |  MONDAY, 1 NOV 2021
... credit insurance, ASIC banned the unsolicited sale of this insurance through cold calls, secured over $250 million in remediation for customers and has taken civil action against Westpac," Court said. "Today we add criminal proceedings against CBA. These ...

CFS fined $20m over super misconduct

JAMIE WILLIAMSON  |  TUESDAY, 19 OCT 2021
... the process didn't take into account their personal objectives, situation or needs. CFS has paid $67 million in remediation to about 5745 members. This is continuing, with the figure expected to rise.

ME Bank faces criminal charges

ELIZABETH MCARTHUR  |  WEDNESDAY, 15 SEP 2021
... communications over a two year period ending September 2018. These issues were self-reported by ME to ASIC in October 2018 and remediation paid to all affected customers in 2019 was approximately $105,000. BOQ Group was aware of this matter during the ...

Colonial First State faces penalties for MySuper conduct

KANIKA SOOD  |  WEDNESDAY, 8 SEP 2021
... remediated the majority of the affected members yet. "CFSIL apologises unreservedly to members impacted by these issues. Remediation of the [70] calls is over 99% complete and is expected to be finalised in October 2021. CFSIL will remediate members ...

Breach reporting guidance released

KARREN VERGARA  |  WEDNESDAY, 8 SEP 2021
... institutions to identify incidents that proved to be significant breaches. ASIC deputy chair Karen Chester said: "Today's remediation tally reveals how much consumer harm these delays caused, and ultimately at great cost to those firms." "The new obligations ...