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Showing 131 - 140 of 473 results for "remediation"

Federal Court imposes $4m penalty on industry fund

CHLOE WALKER | TUESDAY, 18 JAN 2022

... adequately manage systems changes. His Honour also noted that many Statewide members were affected by the conduct and that remediation is ongoing. "Statewide provided misleading communication to thousands of its members, telling them they had insurance ...

ASIC sues ANZ in final civil RC case

JAMIE WILLIAMSON | THURSDAY, 9 DEC 2021

... have impacted about 580,447 customer accounts, resulting in ANZ paying nearly $200 million to impacted customers in remediation. ANZ's Breakfree package, introduced in 2003, offered fee waivers, interest rate discounts on eligible ANZ products such ...

ASIC files numerous cases against Westpac

JAMIE WILLIAMSON | TUESDAY, 30 NOV 2021

... caused considerable consumer harm, with the bank having admitted to the conduct and agreed to pay about $80 million in remediation. However, ASIC will submit to the court that combined penalties of $100 million are appropriate, it said. Responding, Westpac ...

AMP flags $325m performance hit

KARREN VERGARA | FRIDAY, 26 NOV 2021

... in the following months. AMP's share prices traded as low as $1.015 upon the announcement. The losses are on top of remediation relating to superannuation misconduct ($45m) and an adjustment for the sale of its life insurance and mature business ($65m). ...

ASIC enforces licence conditions on ASX

ANNABELLE DICKSON | WEDNESDAY, 24 NOV 2021

... outage in November 2020 and assign accountability to the ASX board and senior executives for the implementation of the remediation actions. Meanwhile, the conditions on ASX Clear and ASX Settlement involve appointing an independent expert to assess ASX's ...

ASIC launches remediation review

KARREN VERGARA | WEDNESDAY, 17 NOV 2021

A new ASIC review will force licensees to improve identifying remediation issues and rectify and compensate consumers sooner. The corporate watchdog launched a new consultation with the advice industry to ensure that AFS licensees act efficiently, honestly ...

AMP in enforceable undertaking

JAMIE WILLIAMSON | TUESDAY, 16 NOV 2021

... members' best interests are served. In a statement, AMP said APRA has acknowledged that it has addressed and completed remediation for several of the matters the CEU relates to. However, one matter is currently in the process of being remediated ...

Westpac profit jumps 138%

KARREN VERGARA | MONDAY, 1 NOV 2021

... dodgy advice rendered. To date, it has paid out $1.5 billion. King commented that the bank is progressing its customer remediation as this year saw the completion of two legacy advice programs. Throughout the year, Westpac closed its offices in Mumbai ...

CBA pleads guilty to selling junk insurance

ANNABELLE DICKSON | MONDAY, 1 NOV 2021

... credit insurance, ASIC banned the unsolicited sale of this insurance through cold calls, secured over $250 million in remediation for customers and has taken civil action against Westpac," Court said. "Today we add criminal proceedings against CBA. These ...

CFS fined $20m over super misconduct

JAMIE WILLIAMSON | TUESDAY, 19 OCT 2021

... the process didn't take into account their personal objectives, situation or needs. CFS has paid $67 million in remediation to about 5745 members. This is continuing, with the figure expected to rise.

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Australian Unity to shed 195 roles

MATTHEW WAI

Australian Unity is reducing its workforce by 195 positions due to underperformance stemming from delays in government support for its Home Health platform and the integration of several businesses.

Count shutters limited-advice business, slips in size ranking

MATTHEW WAI

Count Financial has reportedly wound up its restricted SMSF/limited-advice service, losing some 26 advisers on the Financial Adviser Register, latest data shows.

First Super recruits head of investments from Prime Super

MATTHEW WAI

First Super has appointed a new head of investments, replacing Chris Artis, who was in the position for the past three months on an interim basis.

BMO eyes Euroz Hartleys' capital markets business

KARREN VERGARA

Euroz Hartleys confirmed it is in discussions with Canada's BMO Financial Group for a potential sale of its capital markets business for $145 million.

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