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Showing 101 - 110 of 241 results for "OMB"

AMPFPA action progresses, associations merge

JAMIE WILLIAMSON  |  WEDNESDAY, 12 FEB 2020
The AMP Financial Planners Association is anticipating a class action to be filed on behalf of its members later this month, as it gears up to merge with the Hillross Advisers Association. Speaking to Financial Standard, AMPFPA chief executive Neil ...

Permanent ban follows alleged SMSF theft

HARRISON WORLEY  |  WEDNESDAY, 5 FEB 2020
A Sydney-based financial adviser has been permanently banned for allegedly transferring client SMSF funds to the trust account of a business she controlled. ASIC has permanently banned Sydney adviser Tram Tran, after it found the funds of her clients ...

AMP urged to mediate with advisers

ELIZA BAVIN  |  FRIDAY, 31 JAN 2020
The Australian Small Business and Family Enterprise Ombudsman, Kate Carnell, has urged AMP to formally commit to mediation as it moves to exit up to 250 financial planning businesses. Carnell said over 80 AMP advisers have visited her offices in the ...

CBA underpayments reach $53 million

ELIZA BAVIN  |  MONDAY, 16 DEC 2019
The Commonwealth Bank of Australia will commence payments of a further $14.9 million as employee underpayments surpass $53 million. The bank said it has notified and repaid approximately 41,000 current and former employees, leave balances have been ...

Planners heed SMSF risk warning

JAMIE WILLIAMSON  |  FRIDAY, 29 NOV 2019
Are you effectively communicating the importance of diversification to your SMSF clients? Delegates have been warned how to avoid triggering the ATOs radar. Aaron Dunn, who is the chief executive of Smarter SMSF, has provided an update on SMSF regulation ...

AFCA reveals approach to Code of Ethics compliance

JAMIE WILLIAMSON  |  FRIDAY, 29 NOV 2019
The Australian Financial Conduct Authority has outlined its approach to assessing financial planner conduct in relation to the Code of Ethics. Speaking at the FPA Congress, AFCA deputy chief ombudsman June Smith said the body will take a measured and ...

Advice practices urged to contact ombudsman

ELIZABETH MCARTHUR  |  WEDNESDAY, 6 NOV 2019
The Australian Small Business and Family Enterprise Ombudsman Kate Carnell is calling on small business financial advice practices to share their experiences. Carnell wants to hear from those small and family enterprises being pushed out by financial ...

AFCA appoints chief operating officer

ELIZABETH MCARTHUR  |  MONDAY, 4 NOV 2019
The Australian Financial Complaints Authority (AFCA) has appointed a chief operating officer from the Australian Tax Office. Justin Untersteiner will join AFCA from the start of December. AFCA chief executive and chief ombudsman David Locke said Untersteiner's ...

AFCA delivers $185m in compensation

ELIZABETH MCARTHUR  |  FRIDAY, 1 NOV 2019
The Australian Financial Complaints Authority has delivered $185 million in compensation to consumers in its first year of operation. AFCA received a 40% uptick in complaints compared to previous complaints schemes. About 77% of complaints lodged have ...

AFCA gets 1450 complaints a week

ELIZABETH MCARTHUR  |  WEDNESDAY, 16 OCT 2019
The Australian Financial Complaints Authority has received 1450 complaints every week so far this financial year. This number has AFCA on track to beat its previous record. In July, after six months in operation the authority had received just over ...