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Showing 101 - 110 of 140 results for %22CBA business clients%22

CBA's Narev leaves key questions unanswered

LAURA MILLAN  |  FRIDAY, 4 JUL 2014
Commonwealth Bank (CBA) chief executive Ian Narev's main message during yesterday's address to the media was that the bank has switched to "a spirit of openness," but he left a number of key questions unanswered. "Over the past few weeks perhaps the ...

FPA calls for industry summit to restore trust in advice

LAURA MILLAN  |  THURSDAY, 3 JUL 2014
... profession act with speed and complete fairness." Rantall said that the association's primary focus is "the impacted clients of CBA and ensuring we never see something like this again." He called for a summit chaired by an "eminent, independent figure" ...

CBA opens up compensation review to all advice clients

LAURA MILLAN  |  THURSDAY, 3 JUL 2014
Commonwealth Bank (CBA) will set up a broad remediation program with independent oversight for all customers who received advice between 2003 and 2012. CBA chief executive Ian Narev spoke to the media a week after the Senate Economics Committee issued ...

Inquiry sees spike in demand for legal action against CBA

LAURA MILLAN  |  WEDNESDAY, 2 JUL 2014
Law firms working to start a class action against Commonwealth Bank's (CBA) financial planning businesses have seen a spike in the number of affected consumers willing to join the legal cause. Maurice Blackburn principal John Berrill and Shine Lawyers ...

CBA apologies again, refutes reckless culture accusations

LAURA MILLAN  |  FRIDAY, 27 JUN 2014
... and Investments Committee (ASIC), which was prompted by cases of alleged document forgery, fraud and improper advice within CBA's advice division. "These actions were facilitated by a reckless, sales-based culture and a negligent management, who ignored ...

Senate report, a turning point for advice industry

LAURA MILLAN  |  THURSDAY, 26 JUN 2014
... of a professional association. The Senate inquiry into the performance of ASIC was prompted by cases of misconduct within CBA's financial planning businesses, but a number of submissions have brought to light similar cases in other organisations. In ...

Senate inquiry reccommends Royal Commission into CBA

LAURA MILLAN  |  THURSDAY, 26 JUN 2014
... whistleblower information that there were cases of serious advice misconduct, document forgery and alleged fraud within a number of CBA's financial planning businesses. Request for a Royal Commission The Committee said that a Royal Commission should ...

CBA and ASIC "sketchy" info delays inquiry conclusion

LAURA MILLAN  |  WEDNESDAY, 28 MAY 2014
... committee has issued an interim report signed by its chair, Senator Mark Bishop, referring to ASIC and Commonwealth Bank's (CBA) efforts to clarify some inconsistencies in their submissions. According to Bishop details were "sketchy and left many key ...

CBA, CSSA promote FoFA legal loophole

JAMES FERNYHOUGH  |  MONDAY, 19 MAY 2014
Corporate super specialist advisers have found a legal loophole that could allow them to maintain a business model that has been banned under the Future of Financial Advice (FoFA) legislation. The loophole, as described by Commonwealth Bank of Australia ...

CBA forced to review poor compensation methods

LAURA MILLAN  |  MONDAY, 19 MAY 2014
... Australian financial services licence (AFSL) of both Commonwealth Bank-owned businesses. The two Commonwealth Bank of Australia (CBA) businesses only implemented appropriate compensation processes for clients of former advisers Don Nguyen and Anthony ...