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Showing 141 - 150 of 475 results for "Remediation"

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.

ME Bank faces criminal charges

ELIZABETH MCARTHUR  |  WEDNESDAY, 15 SEP 2021
... communications over a two year period ending September 2018. These issues were self-reported by ME to ASIC in October 2018 and remediation paid to all affected customers in 2019 was approximately $105,000. BOQ Group was aware of this matter during the ...

Colonial First State faces penalties for MySuper conduct

KANIKA SOOD  |  WEDNESDAY, 8 SEP 2021
... remediated the majority of the affected members yet. "CFSIL apologises unreservedly to members impacted by these issues. Remediation of the [70] calls is over 99% complete and is expected to be finalised in October 2021. CFSIL will remediate members ...

Breach reporting guidance released

KARREN VERGARA  |  WEDNESDAY, 8 SEP 2021
... institutions to identify incidents that proved to be significant breaches. ASIC deputy chair Karen Chester said: "Today's remediation tally reveals how much consumer harm these delays caused, and ultimately at great cost to those firms." "The new obligations ...

NAB fined $18.5m over misleading fee disclosure

JAMIE WILLIAMSON  |  THURSDAY, 26 AUG 2021
... ongoing service fees to customers of its former NAB Financial Planning business in 2019. In 2020, we established a remediation program which has to date paid approximately $31 million to more than 15,000 customers in order to make things right," Cook ...

IOOF posts $143.5m loss for FY21

KANIKA SOOD  |  THURSDAY, 26 AUG 2021
... not aiming for a sort of target number primarily because we are already at scale," Mota said. IOOF expects advice remediation to be "largely completed" by FY22, after accelerating to December this year. Its provision for advice remediation is $377.2 ...

CFS appoints risk chief from MLC

ELIZABETH MCARTHUR  |  MONDAY, 23 AUG 2021
... that role, Lane led a team of more than 750 people in areas including the separation from NAB, risk and compliance, remediation, regulatory affairs, government affairs, legal, company secretariat and office of the superannuation trustee. Prior to joining ...

AMP flags recovery, profit jumps

KARREN VERGARA  |  THURSDAY, 12 AUG 2021
... but we have committed to operational separation by the end of this year," she said. Brand damage AMP's customer remediation program totals $823 million; nearly $600 million represents payments to customers. Only $35 million has been paid to those ...

Profit boost for CBA, ups remediation bill

KARREN VERGARA  |  WEDNESDAY, 11 AUG 2021
... troubles continue to eat away at the bottom line. In releasing its FY21 results this morning, CBA's provisional remediation bill owed to CountPlus has climbed to $260 million. "Remediation amounts will not be known until individual cases have been ...