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Showing 1121 - 1130 of 1257 results for "Royal Commission"

Royal Commission case study: advice put retirement in ruins

JAMIE WILLIAMSON  |  THURSDAY, 19 APR 2018
A Westpac case study analysed by the Royal Commission has demonstrated the devastating impact of inappropriate financial advice. Providing testimony in the first case study of inappropriate advice to be explored by the Commission, former Westpac customer ...

Treasurer backs ASIC investigations

DARREN SNYDER  |  THURSDAY, 19 APR 2018
... Scott Morrison has great confidence in ASIC's ability to deal with matters raised during the financial services Royal Commission this week. At a doorstop interview in Sydney, Morrison advised that ASIC has been investigating and continues to investigate ...

ASIC totally unprepared for advice reforms: Tynan

ALEX BURKE  |  THURSDAY, 19 APR 2018
Connect Financial Service Brokers chief executive Paul Tynan believes if the Royal Commission has made anything clear, it's that ASIC is in the dark about how to police financial advice misconduct. Speaking to Financial Standard, Tynan said the key ...

Dead advice clients slugged ongoing service fees

JAMIE WILLIAMSON  |  THURSDAY, 19 APR 2018
... advice subsidiaries charged ongoing service fees to clients it knew had passed away. Providing testimony to the Royal Commission today, CBA executive general manager, Commonwealth Private Marianne Perkovic acknowledged that on at least three separate ...

RECAP: Advice in the Royal Commission spotlight (Days 1 - 3)

KANIKA SOOD  |  THURSDAY, 19 APR 2018
After three days of the financial services Royal Commission tackling financial advice, Financial Standard summarises the top stories and key points you need to know. Australia's top financial institutions are lining up before Commissioner Kenneth Hayne ...

Royal Commission latest: CBA doing more with fewer advisers

KARREN VERGARA  |  WEDNESDAY, 18 APR 2018
... of the private banking division Marianne Perkovic, who fronted the afternoon session of the financial services Royal Commission on Wednesday. Senior Counsel Assisting Michael Hodge referenced a memo sent to CBA senior staff dated 3 May 2012, detailing ...

Former Suncorp adviser banned

HARRISON WORLEY  |  WEDNESDAY, 18 APR 2018
... from private client funds for personal and business expenses, to the tune of $1,951,000. The bans arrive as the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry hears damning evidence of deliberate practices ...

AMP platform fees laid bare

KARREN VERGARA  |  WEDNESDAY, 18 APR 2018
The Royal Commission brought to light several gaping holes in AMP's fee charging mechanisms across its platforms, as well as its inaction to comply with the legislative changes concerning opt-in financial advice fees. AMP head of platform development ...

Why wait for Royal Commission to address trust?

HARRISON WORLEY  |  WEDNESDAY, 18 APR 2018
A financial services industry group said its latest consumer research shows Australians care less about Royal Commission findings and are more concerned about professional standards. The Financial Services Institute of Australasia's (FINSIA) latest ...

Outgoing CEO name removed from critical AMP report draft

ALEX BURKE  |  TUESDAY, 17 APR 2018
The Royal Commission revealed today that AMP's law firm, Clayton Utz, removed outgoing chief executive Craig Meller's name from a draft of a critical report about the business. Senior Counsel Assisting Michael Hodge referred to the Clayon Utz report ...