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Showing 91 - 100 of 110 results for %22CBA Inquiry%22

CBA and ASIC "sketchy" info delays inquiry conclusion

LAURA MILLAN  |  WEDNESDAY, 28 MAY 2014
... committee has issued an interim report signed by its chair, Senator Mark Bishop, referring to ASIC and Commonwealth Bank's (CBA) efforts to clarify some inconsistencies in their submissions. According to Bishop details were "sketchy and left many key ...

Senate Committee forced to delay tabling of ASIC report

LAURA MILLAN  |  WEDNESDAY, 28 MAY 2014
... report "addresses significance of late communication from C/W bank," Bishop wrote on the social network. Neither Bishop nor CBA were available for comment at the time of publishing. The Economics Committee was scheduled to report the conclusions of the ...

Murray shuns FoFA commissions' debate

LAURA MILLAN  |  WEDNESDAY, 28 MAY 2014
... answered. Murray focused his speech on the experiences and the lessons he learnt as chief executive officer of Commonwealth Bank (CBA) between 1992 and 2005. He was also asked about the dangers of "leadership who want to push product through without ...

CBA leads on client satisfaction despite planning scandals

LAURA MILLAN  |  TUESDAY, 27 MAY 2014
The scandals in Commonwealth Bank's (CBA) financial planning unit have not affected its clients' satisfaction, which is the highest of the big four banks. Clients rated their satisfaction with CBA advisers at 84.2% in the year to March 2014, a Roy Morgan ...

CBA forced to review poor compensation methods

LAURA MILLAN  |  MONDAY, 19 MAY 2014
... Australian financial services licence (AFSL) of both Commonwealth Bank-owned businesses. The two Commonwealth Bank of Australia (CBA) businesses only implemented appropriate compensation processes for clients of former advisers Don Nguyen and Anthony ...

CBA wants Senate to fix corporate super advice

LAURA MILLAN  |  MONDAY, 12 MAY 2014
Commonwealth Bank (CBA) has expressed concern that the ban on conflicted remuneration will affect corporate superannuation advisers and has asked the Senate inquiry into the Future of Financial Advice (FoFA) to find a way to solve the issue. The bank ...

New reports to stir financial planning perfect storm

LAURA MILLAN  |  MONDAY, 5 MAY 2014
... acknowledge we should have identified the problems earlier, and we should have acted more quickly once issues were found," CBA said in a statement. "We have significantly transformed our business as a result of these events," the bank continued. ASIC ...

ASIC admits wrongdoing in Senate hearing

LAURA MILLAN  |  FRIDAY, 11 APR 2014
... Blackburn principal John Berrill explained that it cost the law firm $35,000 to reconstruct each client file, while it cost CBA $5,000 per file. Maurice Blackburn represented CBA victims in the class action against the bank. Bishop asked: "If the process ...

CBA promoted Nguyen to keep him away from clients

LAURA MILLAN  |  THURSDAY, 10 APR 2014
... into the performance of the Australian Securities and Investments Commission (ASIC) has heard that the Commonwealth Bank (CBA) promoted financial planner Don Nguyen, despite allegations of fraud. Speaking at the inquiry Commonwealth Bank (CBA) wealth ...

CBA asks Murray inquiry to remove super from awards

LAURA MILLAN  |  TUESDAY, 1 APR 2014
Commonwealth Bank (CBA) is asking the Financial Systems Inquiry to remove super from awards and to amend legislation so employers can select any MySuper product as the default fund for their employees. In a submission to the Murray inquiry, CBA said ...