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Showing 161 - 170 of 187 results for "Advice Review"

Report confirms failed CBA compensation

LAURA MILLAN  |  THURSDAY, 23 APR 2015
... them up to $5,000 to review the advice they received. The report looks at compensation schemes prior to the Open Advice Review program that started in 2014. Specifically, it looks at Project Hartnett, which the bank put in place in 2008, and at the Compensation ...

CBA advisers ran from ASIC

ALEX BURKE  |  WEDNESDAY, 22 APR 2015
... "fundamental duty to do the right thing by customers" during the hearing, pointing to the company's independent Open Advice Review program. He did concede, however, that the compensation process had taken longer than customers might have hoped, saying ...

Industry should help fund ASIC: ANZ

LAURA MILLAN  |  TUESDAY, 21 APR 2015
ANZ top executives supported the idea that the financial services industry should help fund the Australian Securities and Investments Commission (ASIC) so it can "fully police industry behaviour." ANZ deputy chief executive officer Graham Hodges told ...

ASIC investigating false fees in large advice firms

ALEX BURKE  |  THURSDAY, 16 APR 2015
As part of its ongoing Wealth Management Project, ASIC is investigating instances of advice fees being charged without advice in large financial planning firms. Established in October 2014, the Wealth Management Project was designed to specifically ...

Hagger defends NAB advice, brushes off independent review

ALEX BURKE  |  MONDAY, 9 MAR 2015
NAB Wealth chief executive Andrew Hagger has defended the bank's internal advice review processes to the Senate economics references committee. When asked by the committee why only eight serious process breaches were reported to ASIC - despite recent ...

Independent expert lists CBA compensation challenges

LAURA MILLAN  |  FRIDAY, 19 DEC 2014
... CBA in August, and has confirmed that it will release the second on May 2015. "The different nature of the [Open Advice Review] OAR program relative to previous remediation programs has raised challenges for CBA," the report said. Challenges include ...

FEATURE: 2014 year in review

MARK SMITH, LAURA MILLAN, JAMES FERNYHOUGH  |  FRIDAY, 12 DEC 2014
... with a shattering and highly critical report that included 61 recommendations. Since then, CBA has started the Open Advice Review program to review the advice of all of its advice clients from 2003 to 2012. The bank has so far appointed a number of independent ...

ASIC to watch CBA advisers closely

LAURA MILLAN  |  FRIDAY, 14 NOV 2014
... financial adviser), with fees up to $5,000 being met by CBA. They will also be eligible to participate in the Open Advice Review program.

CBA chairman defends compensation program at AGM

LAURA MILLAN  |  THURSDAY, 13 NOV 2014
... advisers and managers, improved document management and changes to the remuneration structure. Regarding the Open Advice Review program, which aims to compensate victims of the bank's rogue financial advisers, he said that it demonstrates "our commitment ...

CBA appoints litigators as customer advocates

LAURA MILLAN  |  MONDAY, 3 NOV 2014
Commonwealth Bank (CBA) has appointed three law firms as independent customer advocates for its Open Advice Review compensation program. Maurice Blackburn, Shine Lawyers and Slater and Gordon have been appointed to support individual customers through ...

Editor's Choice

Global X awards mandate for ETF business

ELIZA BAVIN
Global X has awarded a new custody and administration mandate for its Australian ETF business.

Bell Asset Management launches small-caps fund

KARREN VERGARA
Bell Asset Management has formally launched its Australian Small Companies Fund, which is run by former Tyndall Asset Management portfolio managers.

Former Australian Ethical finance chief lands new gig

MATTHEW WAI
The former chief financial officer of the ethical investment manager has joined a local finance company after wrapping up his tenure at AUB Group.

MySuper assets pursue $1.5tn Choice sector

KARREN VERGARA
MySuper assets are fast catching up to the $1.5 trillion Choice sector, hitting nearly $1.2 trillion in the March quarter.

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