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Showing 101 - 110 of 424 results for "Big four banks"

Royal Commission must cast net wider

JAMIE WILLIAMSON  |  MONDAY, 16 APR 2018
... 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 privately-owned dealer group, Dover. However, there are commentators suggesting the advice provided ...

Royal Commission to grill FPA, AFA

JAMIE WILLIAMSON  |  WEDNESDAY, 4 APR 2018
... will also appear. Preceding this, case studies provided by the financial planning arms and subsidiaries of the big four banks and AMP will be presented to the Commission. Running from Monday, 16 April to Friday, 27 April, the second round of hearings ...

ABA makes new code compulsory

KANIKA SOOD  |  MONDAY, 26 MAR 2018
... Bligh said. The Code of Banking Practice was introduced in 1993 and has since gone through three iterations. The big four banks are signed up to the current code, the Code of Banking Practice (2014). The revamped version, lodged with the ASIC in December ...

Vertically aligned institutions pay $21.4m compensation

KARREN VERGARA  |  WEDNESDAY, 21 FEB 2018
ASIC said clients of the big four banks and AMP who received non-compliant financial advice will be compensated a further $21.4 million. This adds to the $30 million compensation bill ASIC announced in March 2017 after it investigated how large institutions ...

Royal Commission begins in February

JAMIE WILLIAMSON  |  TUESDAY, 23 JAN 2018
... will not be a never-ending lawyers' picnic." The inquiry was formed following an open letter to Turnbull from the big four banks, requesting you and your government to act to ensure a properly constituted inquiry into the financial services sector is ...

SMSFs shifting focus for diversification

JAMIE WILLIAMSON  |  MONDAY, 22 JAN 2018
... consumer discretionary stocks also proved popular. The top 10 domestic equity investments for SMSFs comprised the big four banks, Telstra, BHP Billiton, Wesfarmers, CSL, Woolworths and Woodside Petroleum. Separately, new data released by the Australian ...

NAB refunds home loan customers

KARREN VERGARA  |  TUESDAY, 19 DEC 2017
... compensation bill for charging ongoing advice fees, but failed to provide actual general or personal advice. AMP and the big four banks collectively refunded $215.9 million to customers; NAB is due to pay a further $1.3 million.

Big 4, AMP fork out massive compensation bill

KARREN VERGARA  |  MONDAY, 18 DEC 2017
AMP and the big four banks refunded customers $215.9 million for charging ongoing advice fees that failed to provide actual general or personal advice. ASIC said this was in addition to the fees-for-no-service compensation figures identified in Report ...

Synchron adds to adviser network

KARREN VERGARA  |  WEDNESDAY, 6 DEC 2017
... one-third the market, is driving 80% of the growth, the report said. The largest advice groups, which comprises the big four banks, AMP and IOOF, have a combined total 9317 advisers.

Industry associations merge

KARREN VERGARA  |  FRIDAY, 1 DEC 2017
... "It is disappointing that the Government is seeking to deflect from the real and systemic problems plaguing the big four banks, by including the superannuation system in this inquiry." She added there is no evidence of gouging, fraud or unethical behaviour ...