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Showing 1251 - 1260 of 1691 results for "Royal"

IOOF updates market on ANZ wealth sale

KARREN VERGARA  |  TUESDAY, 24 APR 2018
IOOF gave shareholders an update on its ANZ Wealth acquisition in light of the banking Royal Commission. ANZ announced in September 2017 it will divest OnePath's pension and investments and four aligned dealer groups to IOOF for $975 million. IOOF's ...

ANZ, NAB bottom lines take a hit

KARREN VERGARA  |  TUESDAY, 24 APR 2018
... groups to IOOF, and the life insurance arm to Zurich in October and December 2017 respectively. It anticipates the banking Royal Commission will generate about $50 million of legal and miscellaneous costs for its full-year reporting period of 30 September ...

Royal Commission singles out 325 NAB staff cutting corners

ALEX BURKE  |  TUESDAY, 24 APR 2018
The Royal Commission referred today to a breach report concerning 325 NAB staff, including 204 financial advisers, who were involved in incorrectly witnessing client forms. This finding came out of a line of questioning involving a particular adviser ...

AMP kept unsuspecting clients in the dark: RC

KARREN VERGARA  |  TUESDAY, 24 APR 2018
The financial services Royal Commission censored the names of two AMP financial planning clients who currently don't know they are the victims of improper advice provided by an authorised representative. AMP knew as early as March 2017 the husband and ...

Unions lobby super sector to cut big bank, AMP ties

JAMIE WILLIAMSON  |  TUESDAY, 24 APR 2018
... industry superannuation funds to review partnerships with the big banks in light of issues exposed at the financial services Royal Commission. In a letter to industry fund chief executives, ACTU secretary Sally McManus urged funds to reconsider their ...

Royal Commission can only mean more red tape: Poll

DARREN SNYDER  |  MONDAY, 23 APR 2018
Financial Standard readers predict the financial services Royal Commission will turn the financial advice industry in a new direction, and with more red tape. The publication's weekly spot poll shows more than half (55%) of the respondents strongly ...

ANZ blames systems for inadequate controls: RC

KARREN VERGARA  |  MONDAY, 23 APR 2018
... financial advisers as well as its authorised representatives within three of its aligned dealer groups. Week two of the Royal Commission tasked with scrutinising advice practices has exposed ANZ's difficulty in aligning its systems, processes and procedures ...

Royal Commission presents clear downside for bank stocks

ALEX BURKE  |  MONDAY, 23 APR 2018
Findings from the Royal Commission, and the possible increased regulation that will emerge as a result, have weakened the investment case for Australia's banking sector. Research from Credit Suisse analysts Jarrod Martin and Brendon Ferreira suggests ...

Chief economist update: Malcolm puts agricuture in the middle

BENJAMIN ONG  |  MONDAY, 23 APR 2018
... words from Australian Prime Minister Malcolm Turnbull doing a "mea culpa" for waiting two years before establishing the Royal Commission investigating misconducts (and boy, there were lots of them) in the banking and financial services industry. Malcolm ...

ANZ dragged its heels on adviser misconduct

ALEX BURKE  |  FRIDAY, 20 APR 2018
The former chief executive of ANZ-aligned RI Advice told the Royal Commission the group took "too long to act" on adviser misconduct. Darren Whereat discussed the case study of former RI Advice authorised representative John Doyle with Senior Counsel ...