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Showing 101 - 110 of 407 results for "remediation"

ASIC sues CBA over monthly fees

ANNABELLE DICKSON  |  THURSDAY, 1 APR 2021
... and customers should have confidence that the banks they deal with charge fees correctly." CBA paid $66 million in remediation to most of the affected customers by December 2020. However, there are still some customers who have yet to be remediated. ...

RBNZ puts Westpac on notice

ANNABELLE DICKSON  |  WEDNESDAY, 24 MAR 2021
... undertaking (CEU). The CEU requires Westpac to develop an integrated plan that incorporates all major risk governance remediation programs covering financial and non-financial risks and have independent assurance over the implementation of the plan and ...

APRA closes Westpac probe

ELIZA BAVIN  |  FRIDAY, 12 MAR 2021
... investigation, Westpac is still subject to a court enforceable undertaking (CEU) to implement an integrated risk governance remediation plan to uplift risk governance across its business with ongoing independent review over its progress. The $1 billion ...

Remediation services profiting from Royal Commission failures

ELIZABETH MCARTHUR  |  THURSDAY, 11 MAR 2021
... service, launching just last year. People who think they may be eligible for a refund from the multi-million-dollar remediation programs being run by all of Australia's largest financial institutions can use Remediator to manage the refund process. ...

Westpac exec goes part-time

ANNABELLE DICKSON  |  TUESDAY, 9 MAR 2021
... undertaking (CEU). The CEU requires Westpac to develop an integrated plan that incorporates all major risk governance remediation programs covering financial and non-financial risks and have independent assurance over the implementation of the plan and ...

Adviser levy to increase by 160%

ELIZABETH MCARTHUR  |  FRIDAY, 5 MAR 2021
... in 2017-18 to more than $56 million in 2019-20, the group alleges this funding is needed due to the supervision and remediation of historic advice deficiencies at the big banks. The advice bodies are calling for the government to review the industry ...

ASIC takes Statewide Super to court

JAMIE WILLIAMSON  |  THURSDAY, 4 MAR 2021
... administration error, the organisation self-reported to ASIC, while conducting a forensic examination and developing a remediation plan. Statewide Super has actively sought to cooperate with ASIC at all times." "Statewide Super continues to progress ...

ASIC takes NAB to court

KANIKA SOOD  |  THURSDAY, 25 FEB 2021
... mischarging (22 February 2019). The Federal Court is yet to make orders. As at 4 December 2020, NAB had paid $7.7 million in remediation, which is still ongoing. It did not remediate clients who no longer had an account with NAB. If they had less than ...

Westpac prioritises risk management

KARREN VERGARA  |  WEDNESDAY, 17 FEB 2021
... and counter terrorism laws, the bank flagged it is still strengthening its risk management around financial crime remediation. Several outstanding issues such as complex IT systems, risk management and approach to risk continue to be pain points. The ...

Banks return $1.2bn for bad advice

ELIZA BAVIN  |  FRIDAY, 12 FEB 2021
... no service misconduct or non-compliant advice. AMP, ANZ, CBA, Macquarie, NAB and Westpac undertook the review and remediation programs to compensate affected customers as a result of two major ASIC reviews. The reviews were launched by the regulator ...