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Showing 131 - 140 of 252 results for %22Victims%22

CBA whistleblower flags unfair compensation

ALEX BURKE  |  THURSDAY, 29 OCT 2015
... Senator Sam Dastyari commented that "the Australian Senate was given assurances that this program was about putting the victims first and providing justice. Today's evidence blows that out of the water." A CBA spokesperson replied to the news on October ...

NAB pays $1.7 million in compensation

ALEX BURKE  |  THURSDAY, 22 OCT 2015
... chief executive Andrew Thorburn said the bank planned to take a "leading role" in addressing the compensation gap for victims of poor financial advice.

CBA's advice review compensates 19 clients

LAURA MILLAN  |  WEDNESDAY, 30 SEP 2015
The compensation program set up by Commonwealth Bank (CBA) to compensate victims of bad advice has reviewed over 8,800 cases and compensated only 19 clients. In total, the bank has offered $950,252 in compensation, but paid $488,815 as of 31 August ...

Macquarie pays $11m advice compensation so far

LAURA MILLAN  |  THURSDAY, 23 JUL 2015
... Securities and Investments Commission (ASIC) forced the group to establish a compensation process for clients who were victims of bad advice by the group's financial planners. The program was part of an enforceable undertaking (EU) with Macquarie Private ...

Extensions - What the Greeks await and the Russians hate

BENJAMIN ONG  |  THURSDAY, 25 JUN 2015
... self-defeating and accusing the West of crass anti-Russian bias by timing the decision to the nation's commemoration of the Soviet victims of World War II." The news intensified the downward pressure on the Russian ruble. It had been weakening against ...

Labor now opposes advice Royal Commission

LAURA MILLAN  |  WEDNESDAY, 24 JUN 2015
... current Senate inquiry is the appropriate place to continue to examine the roles of ASIC, financial planners, and to talk to victims, some of whom have lost their life's savings," Bowen said. "Labor is considering the Senate Economics References Committee ...

Trio liquidators deny deregistering fraud fund

ALEX BURKE  |  MONDAY, 15 JUN 2015
... and the lost money was transferred to Global Consultants and Services Limited (GCSL), currently based in Liechtenstein. Victims of Financial Fraud (VOFF) chief executive Paul Matters has said in a statement that deregistration will prevent legal action ...

Lawyer slams NAB compensation scheme

LAURA MILLAN  |  FRIDAY, 22 MAY 2015
National Australia Bank (NAB)'s program to compensate victims of bad financial advice lacks independence and does not go far enough, a lawyer representing some of the victims said. Shine Lawyers financial negligence solicitor Sasha Ivantsoff spoke to ...

ASIC bans convicted fraud "mastermind"

ALEX BURKE  |  FRIDAY, 22 MAY 2015
... of fraud. He is now serving a nine-and-a-half-year prison sentence. At the time, SFO director David Green said that the victims of Revell-Reade's fraud "deliberately charmed, lied to and bullied - whatever it took to make them send their money to these ...

NAB upgrades advice compensation program

LAURA MILLAN  |  THURSDAY, 21 MAY 2015
National Australia Bank (NAB) has upgraded the compensation program for victims of bad advice with the appointment of a consumer advocate. University of NSW professor of Law Dimity Kingsford Smith will act as a consumer advocate within NAB Wealth's ...