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Showing 151 - 160 of 475 results for "Remediation"

Westpac tops fee-for-no-service misconduct

KARREN VERGARA  |  THURSDAY, 5 AUG 2021
... Millennium3 Financial Services, RI Advice and Financial Services Partners. IOOF will continue customer review and remediation for non-compliant advice in relation to the ADGs using the same independently assured framework implemented by ANZ. ASIC released ...

AFCA weeds out phony complaints

ELIZABETH MCARTHUR  |  FRIDAY, 30 JUL 2021
... previously reported on one such service, Remediator, which charges consumers to file complaints for them and access remediation they are entitled to. In response to this issue, AFCA ran a pilot program where it assessed whether a complainant had actually ...

AMP sued over corporate super misconduct

JAMIE WILLIAMSON  |  FRIDAY, 30 JUL 2021
... super plan into a retail account. "AMP took action to rectify the issue, self-reported it to ASIC, and commenced a remediation process," AMP said. That remediation program saw about $900,000 refunded to impacted members and was completed in November ...

No charges in AMP BOLR investigation

JAMIE WILLIAMSON  |  FRIDAY, 16 JUL 2021
... it stands, fee-for-no-service misconduct has seen Australia's largest institutions pay about $1.24 billion in remediation to date.

OnePath to remediate over pressure selling

ELIZABETH MCARTHUR  |  MONDAY, 12 JUL 2021
... time but was operated as a separate business. "For over three years now, ASIC has pursued enforcement, regulatory and remediation action to tackle misconduct and stem consumer harm in the direct life insurance market. ASIC has delivered deterrence through ...

Superannuation complaints down 31%: AFCA

KANIKA SOOD  |  MONDAY, 5 JUL 2021
... resolved by agreement after AFCA brought the parties together, and that nearly 60% of cases were resolved within 60 days. Remediation payments stemming from AFCA investigations into systematic issues totalled about $32 million in the 12 months, it said ...

Westpac in fresh $87m remediation program

KARREN VERGARA  |  FRIDAY, 2 JUL 2021
The failure of Westpac's former advisers to pass on corporate actions to clients for more than a decade will see the big bank pay a hefty bill. The $87 million that will be remediated affects 32,000 customer accounts, ASIC announced this morning ...

CountPlus acquisitions boost revenue by $9.4m

KARREN VERGARA  |  THURSDAY, 24 JUN 2021
... education requirements." Count Financial, which was previously part of the Commonwealth Bank, raised its provision for remediation related to historical adviser misconduct to $252 million.

ASIC takes on NAB for fee-for-no service breaches

KARREN VERGARA  |  FRIDAY, 18 JUN 2021
... the contraventions. NAB went on to continue charging customers after May 2018. Archibald criticised NAB's two remediation programs. "Money is not necessarily enough to make good or whole the harm to the customers," he said. He argued that NAB's ...

AFCA names two lead ombudsmen

ANNABELLE DICKSON  |  MONDAY, 31 MAY 2021
... at Westpac where she was head of business bank legal and had oversight of business lending disputes, business bank remediation projects and regulatory projects. Previously she was head of institutional and business banking legal for St George and practice ...