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Showing 1141 - 1150 of 1257 results for "Royal Commission"

AMP executive 'apologises' for advice failings

JAMIE WILLIAMSON  |  MONDAY, 16 APR 2018
AMP's group executive, advice and New Zealand used his appearance at the Royal Commission public hearing to apologise on behalf of the group for failings in the provision of financial advice. In questioning AMP group executive, advice and New Zealand ...

Commonwealth Bank refunding millions in fees for no service

JAMIE WILLIAMSON  |  MONDAY, 16 APR 2018
In its three submissions to the Royal Commission, Commonwealth Bank has admitted to at least $118.5 million of fee for no service misconduct. Providing examples of misconduct by authorised representatives and financial advisers employed by CBA and related ...

ANZ issues last minute RC submission correction

JAMIE WILLIAMSON  |  MONDAY, 16 APR 2018
ANZ issued a correction to its submissions to the Royal Commission over the weekend ahead of the next fortnight's hearings on financial advice. Senior Counsel Assisting Rowena Orr said the Royal Commission was provided with a correction by ANZ on Sunday ...

SMSFs investing restrictions unfair: Poll

KARREN VERGARA  |  MONDAY, 16 APR 2018
... they are not intended to prevent the use of LRBAs, the Government said. This week, we aim to find out: Will the Royal Commission fundamentally transform financial advice and result in more red tape for the industry?

AMP admits to serious misconduct in RC submissions

JAMIE WILLIAMSON  |  MONDAY, 16 APR 2018
... Planning or Hillross Financial Services. Follow Financial Standard for ongoing coverage of the financial services Royal Commission: NAB details serious compliance concerns in RC advice submission Commonwealth Bank refunding millions in fees for no service ...

Royal Commission must cast net wider

JAMIE WILLIAMSON  |  MONDAY, 16 APR 2018
The next fortnight will see the Royal Commission grill some of Australia's biggest providers of financial advice, albeit with some noticeable absences. During the Commission's second round of hearings the big four banks and AMP will appear, as will ...

CBA advice failures unacceptable: Comyn

DARREN SNYDER  |  FRIDAY, 13 APR 2018
... two CBA planning subsidiaries entered an enforceable undertaking with ASIC - all before the financial services Royal Commission tackles advice on Monday. Commonwealth Financial Planning and BW Financial Advice will pay a community benefit of $3 million ...

Royal Commission to take "labyrinthine" advice legislation to task

ALEX BURKE  |  MONDAY, 9 APR 2018
In its background paper leading up to the financial advice inquiry on April 16, the Royal Commission has called out the "labyrinthine" regulatory regime in which the industry operates. The paper notes the current legislative framework for financial ...

Lawyers slam life insurers in Royal Commission

KARREN VERGARA  |  FRIDAY, 6 APR 2018
... self-regulate via its two "deficient" codes, according to Maurice Blackburn Lawyers' submission to the banking Royal Commission. There have been more than 700 breaches of the Life Insurance Code of Practice in the short time it took effect on 1 July ...

Royal Commission to grill FPA, AFA

JAMIE WILLIAMSON  |  WEDNESDAY, 4 APR 2018
... industry associations and dealer groups will face the latest round of public hearings in the financial services Royal Commission. Led by Commissioner Kenneth Hayne, the inquiry has called upon the Financial Planning Association of Australia (FPA), the ...