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Showing 151 - 160 of 407 results for "remediation"

Super fund to remediate members

KANIKA SOOD  |  WEDNESDAY, 27 MAY 2020
... Australian bonds holdings. REI Super said the average estimated credit is less than $60 per member, and the effect of remediation on fund members as a whole is "minimal". It initially flagged the remediation in its audited accounts for last financial ...

Law firm bolsters financial services team

ELIZA BAVIN  |  FRIDAY, 15 MAY 2020
... direction, good governance, managing risks, implementing regulatory change, their relationships with regulators, and remediation programmes. In addition, Henry will assist those who invest into that sector by project managing due diligence, conducting ...

Few funds immune to ERS

ELIZABETH MCARTHUR  |  THURSDAY, 14 MAY 2020
... Colonial First State had paid out $473 million to members by Friday,May 7. CFS general manager product, marketing and remediation Kelly Power said those figures are in line with CFS' expectations. "CFS supports measures the government has put in place ...

ASIC secures $160m in remediation over junk credit insurance

ALLY SELBY  |  THURSDAY, 14 MAY 2020
ASIC has announced it has secured $160 million in remediation for consumers sold junk credit insurance from 11 major banks and lenders between 2011 and 2018. These include offerings from ANZ, Australian Central Credit Union, Bank of Queensland, Bendigo ...

CBA sells 55% of CFS

JAMIE WILLIAMSON  |  WEDNESDAY, 13 MAY 2020
... to deliver long-term benefits to its member-base." The sale is not expected to have any impact on CFS's ongoing remediation programs which will continue as planned. CFS will also continue to assist regulators with any future matters, CBA said. Upon ...

AMP defends hefty remuneration bill

ELIZABETH MCARTHUR  |  FRIDAY, 8 MAY 2020
... caused the public to doubt the business' commitment to customers. De Ferrari was at one point asked what the median remediation payout was for customers. He did not answer the question but said AMP had made a decision to repay all clients with low ...

Westpac to review business units

JAMIE WILLIAMSON  |  MONDAY, 4 MAY 2020
... credit losses have been increased to $5.8 billion, he said. The group also booked an after-tax cost of $258 million for remediation in the first half. This included for customers who were provided with business loans where they should have been provided ...

NAB remediation bill grows

ELIZABETH MCARTHUR  |  MONDAY, 20 APR 2020
National Australia Bank has seen another $268 million added to its bill for customer remediation. The increase in customer-related remediation costs for the big bank comes to $188 million after tax. NAB says it expects the additional costs to reduce ...

Court confirms Storm Financial founders breached duties

JAMIE WILLIAMSON  |  FRIDAY, 27 MAR 2020
... of Queensland for those clients who borrowed through the bank to invest. They are unlikely to receive any further remediation. To date, the Cassimatis' have maintained it was the Global Financial Crisis that led to the losses - not the Storm model. ...

COVID-19 uncertainty sees AMP withdraw guidance

ALLY SELBY  |  THURSDAY, 26 MAR 2020
... well as AMP's divestment process from its New Zealand-based wealth management business. The firm's client remediation program is on track to be 80% complete by the end of FY20 and fully complete in 2021, AMP said. AMP said it has activated its ...

Editor's Choice

Value versus growth: Market expectations in 2024

ANDREW MCKEAN  |   12:48PM
In 2022, concerns about rising interest rates and the Russia-Ukraine war brought fundamentals back into focus, creating numerous opportunities for value investing to generate alpha. Then transitioning to the first half of 2023, that period saw significant performance for growth stocks. What's next?

Aware Super appoints general manager, strategy and transformation

JAMIE WILLIAMSON  |   12:35PM
The $175 billion superannuation fund has recruited from Deloitte for the newly created role.

Jinding funds management division spun off

ELIZA BAVIN  |   12:30PM
The funds management division of Australian property group Jinding has launched as its own entity.

CFA Society Australia launches

ELIZA BAVIN  |   12:29PM
CFA Society Australia has been launched following the amalgamation of three local CFA Societies.

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