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Showing 111 - 120 of 407 results for "remediation"

ASIC consults on consumer remediation

ELIZABETH MCARTHUR  |  THURSDAY, 3 DEC 2020
ASIC has released a consultation paper to update the regulatory guide on client review and remediation conducted by financial advice licensees. Regulatory Guide 256: Client review and remediation conducted by advice licensees will be clarified through ...

Westpac enters into court enforceable undertaking

ANNABELLE DICKSON  |  THURSDAY, 3 DEC 2020
... 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 takes action against Westpac

JAMIE WILLIAMSON  |  TUESDAY, 1 DEC 2020
... reviews by independent third parties of Westpac's compliance with APRA's liquidity reporting requirements and the remediation of its control framework for liquidity risk management. Until the findings from those reviews are addressed to APRA's satisfaction ...

CountPlus to continue acquisition spree

ANNABELLE DICKSON  |  MONDAY, 16 NOV 2020
... advice sector," CountPlus chief executive Matthew Rowe said. Further to this, CountPlus provided an update on client remediation matters relating to its subsidiary Count Financial. As at September 30, there are 1732 Count Financial client remediation ...

CBA feels pressure of low rates, profits down

ANNABELLE DICKSON  |  WEDNESDAY, 11 NOV 2020
... deposits, which helped offset ongoing margin pressures from lower interest rates," he said. Expenses outside of customer remediation are up 2% due to increased investment spend, higher staff costs as a result of COVID-19 and wage inflation. However ...

ATO prepares for end of ERS

ELIZA BAVIN  |  THURSDAY, 5 NOV 2020
... funds may still receive a small number of fund approval files into January 2021 relating to applications that require remediation." The ATO said the process is anticipated to continue until late January 2021 as it works through the final applications. ...

Westpac profits down on AUSTRAC fine

ANNABELLE DICKSON  |  MONDAY, 2 NOV 2020
... impairment charges increased four times from the previous year to $3.1 billion with $440 million going towards customer remediation, $614 million to write-down of intangibles and $123 million towards asset sales and revaluations. Despite the dismal results ...

ANZ flags earnings hit

ANNABELLE DICKSON  |  WEDNESDAY, 28 OCT 2020
ANZ has announced a $528 million impact on its cash profit as a result of remediation costs, accelerated software costs and goodwill write off. Following a product review across ANZ, remediation charges have been increased $97 million from the first ...

DDO top of ASIC's agenda

ELIZA BAVIN  |  TUESDAY, 27 OCT 2020
... product lifecycle and should assist industry to deliver better outcomes whilst managing non-financial risks and avoiding remediation. DDO reforms require the industry design fit-for-purpose products that meet consumer needs. In addition, product providers ...

IOOF compensation bill soars

KARREN VERGARA  |  MONDAY, 26 OCT 2020
The former pensions and investments business of ANZ has exacerbated IOOF's client remediation bill, which has now topped $760 million. The provision for ex-ANZ P&I took the lion's share of the total remediation bill at $197.9 million. The firm ...