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Showing 1101 - 1110 of 1257 results for "Royal Commission"

High profile adviser under fire

JAMIE WILLIAMSON  |  THURSDAY, 26 APR 2018
The Royal Commission heard how Fair Work commissioner Donna McKenna received inappropriate financial advice from Sam Henderson, chief executive and senior financial adviser at Henderson Maxwell. McKenna sought financial advice from Henderson in late- ...

IOOF updates market on ANZ wealth sale

KARREN VERGARA  |  TUESDAY, 24 APR 2018
IOOF gave shareholders an update on its ANZ Wealth acquisition in light of the banking Royal Commission. ANZ announced in September 2017 it will divest OnePath's pension and investments and four aligned dealer groups to IOOF for $975 million. IOOF's ...

ANZ, NAB bottom lines take a hit

KARREN VERGARA  |  TUESDAY, 24 APR 2018
... IOOF, and the life insurance arm to Zurich in October and December 2017 respectively. It anticipates the banking Royal Commission will generate about $50 million of legal and miscellaneous costs for its full-year reporting period of 30 September 2018. ...

Royal Commission singles out 325 NAB staff cutting corners

ALEX BURKE  |  TUESDAY, 24 APR 2018
The Royal Commission referred today to a breach report concerning 325 NAB staff, including 204 financial advisers, who were involved in incorrectly witnessing client forms. This finding came out of a line of questioning involving a particular adviser ...

AMP kept unsuspecting clients in the dark: RC

KARREN VERGARA  |  TUESDAY, 24 APR 2018
The financial services Royal Commission censored the names of two AMP financial planning clients who currently don't know they are the victims of improper advice provided by an authorised representative. AMP knew as early as March 2017 the husband and ...

Unions lobby super sector to cut big bank, AMP ties

JAMIE WILLIAMSON  |  TUESDAY, 24 APR 2018
... superannuation funds to review partnerships with the big banks in light of issues exposed at the financial services Royal Commission. In a letter to industry fund chief executives, ACTU secretary Sally McManus urged funds to reconsider their relationships ...

Royal Commission can only mean more red tape: Poll

DARREN SNYDER  |  MONDAY, 23 APR 2018
Financial Standard readers predict the financial services Royal Commission will turn the financial advice industry in a new direction, and with more red tape. The publication's weekly spot poll shows more than half (55%) of the respondents strongly ...

ANZ blames systems for inadequate controls: RC

KARREN VERGARA  |  MONDAY, 23 APR 2018
... advisers as well as its authorised representatives within three of its aligned dealer groups. Week two of the Royal Commission tasked with scrutinising advice practices has exposed ANZ's difficulty in aligning its systems, processes and procedures across ...

Royal Commission presents clear downside for bank stocks

ALEX BURKE  |  MONDAY, 23 APR 2018
Findings from the Royal Commission, and the possible increased regulation that will emerge as a result, have weakened the investment case for Australia's banking sector. Research from Credit Suisse analysts Jarrod Martin and Brendon Ferreira suggests ...

Chief economist update: Malcolm puts agricuture in the middle

BENJAMIN ONG  |  MONDAY, 23 APR 2018
... Australian Prime Minister Malcolm Turnbull doing a "mea culpa" for waiting two years before establishing the Royal Commission investigating misconducts (and boy, there were lots of them) in the banking and financial services industry. Malcolm must be ...