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Showing 91 - 97 of 97 results for "fees for no service"

CBA advice failures unacceptable: Comyn

DARREN SNYDER  |  FRIDAY, 13 APR 2018
... update on the financial advice businesses later this year. ASIC deputy chair Peter Kell said: "Our report into Fees For No Service in October 2016 identified the major financial institutions' systemic failures in this area, and called for fair compensation ...

Royal Commission to grill FPA, AFA

JAMIE WILLIAMSON  |  WEDNESDAY, 4 APR 2018
... Running from Monday, 16 April to Friday, 27 April, the second round of hearings will comprise five topics: fees for no service; investment platform fees; inappropriate financial advice; improper conduct by financial advisers; and the disciplinary regime ...

ASIC hits former Westpac, NAB, YBR adviser with permanent ban

ALEX BURKE  |  MONDAY, 5 MAR 2018
... interests' duty and their obligation to provide appropriate advice to clients. In line with Report 499 on fees for no service, ASIC will also be taking action on those failing to deliver ongoing advice services to financial advice customers paying for ...

ASIC to target non-compliant advisers and AFSLs

JAMIE WILLIAMSON  |  THURSDAY, 1 MAR 2018
... interests' duty and their obligation to provide appropriate advice to clients. In line with Report 499 on fees for no service, ASIC will also be taking action on those failing to deliver ongoing advice services to financial advice customers paying for ...

Big 4, AMP fork out massive compensation bill

KARREN VERGARA  |  MONDAY, 18 DEC 2017
... instances of fees charged without advice provided are identified. ASIC released its 499 Financial advice: fees for no service report in October last year, describing systemic failures within the advice divisions of the largest banks and AMP along with ...

CBA responds to systemic advice failures

KERRIE SYDEE  |  FRIDAY, 28 OCT 2016
... the $154 million in required compensation estimated by ASIC. In response to ASIC's report 'Financial advice: Fees for no service', CBA has confirmed it will be refunding $105 million in fees, plus interest, to impacted customers. The refunds with interest ...

ASIC confirms systemic failures in advice

KERRIE SYDEE  |  THURSDAY, 27 OCT 2016
... Services Licensees in providing ongoing advice services to clients. Identified in ASIC's 'Financial advice: Fees for no service' report, the systemic failures relate to instances where customers were being charged a fee to receive an ongoing advice service ...