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Showing 161 - 170 of 243 results for "OMB"

Industry body questions AFCA funding model

EMMA RAPAPORT  |  THURSDAY, 28 SEP 2017
Funding of the newly established Australian Financial Complaints Authority must be fairly distributed across the financial services industry to reflect the accountability of each sector. In its submission to the Senate Standing Committee on Economics ...

Xenophon team introduce unpaid super Bill

KARREN VERGARA  |  MONDAY, 11 SEP 2017
A Bill that's aligning super guarantee payments to the wage cycle, abolishing the monthly $450 threshold, and granting the Fair Work Ombudsman greater power to recoup unpaid super has been introduced in Parliament. Rebekha Sharkie, federal member for ...

Panel appointed to ease AFCA transition

JAMIE WILLIAMSON  |  WEDNESDAY, 23 AUG 2017
The Government established an expert reference panel to assist with the transition of existing financial services dispute resolution services to the new 'one-stop-shop' model, the Australian Financial Complaints Authority. Led by former Assistant Governor ...

Ripoll to help victims of rogue advice

JAMIE WILLIAMSON  |  MONDAY, 14 AUG 2017
Former MP Bernie Ripoll will work with a financial advice complaints service to assist victims of dodgy financial advice recover their losses. Joining forces with Financial Rescue Australia, Ripoll said that despite the Financial Ombudsman Service's ...

O'Dwyer names one-stop-shop dispute resolution lead

KARREN VERGARA  |  THURSDAY, 27 JUL 2017
A former RBA governor will spearhead the merger of three financial and superannuation dispute resolution bodies into a one-stop-shop. Revenue and Financial Services Minister Kelly O'Dwyer told the FSC Leaders Summit yesterday that Malcolm Edey will ...

Macquarie pays the price for poor advice

JAMIE WILLIAMSON  |  FRIDAY, 9 JUN 2017
Macquarie Equities has shelled out almost $25 million in compensation in the past three years as part of its enforceable undertaking with ASIC. The corporate regulator published an update yesterday as to the remediation program's status, saying it is ...

Financial dispute authorities combined for 'one-stop-shop'

EMMA RAPAPORT  |  TUESDAY, 9 MAY 2017
Three separate financial services dispute resolution services will be combined and replaced by a 'one-stop-shop' to establish a simpler, more accessible and more affordable process for consumers. The Australian Financial Complaints Authority (AFCA) ...

FPA appoints conduct commission chair

EMMA RAPAPORT  |  FRIDAY, 5 MAY 2017
The Financial Planning Association of Australia is taking a step forward to becoming a code monitoring body with the appointment of a new chair to its conduct review commission. Graham McDonald, a solicitor and barrister with experience in dispute resolution ...

Bus operator fails to pay super

EMMA RAPAPORT  |  MONDAY, 30 JAN 2017
A Gold Coast tour bus operator accused of failing to pay the superannuation guarantee to two workers from non-English speaking backgrounds will face court over thousands of dollars of alleged underpayments. A driver for AVA Travel contacted the Fair ...

CBA defends 'incorrect' personal advice claims

JAMIE WILLIAMSON  |  MONDAY, 16 JAN 2017
The Commonwealth Bank has responded to reports by Fairfax claiming a CBA bank teller had provided personal advice to a now-deceased customer. Last week Fairfax revealed CBA is working through a $68,000 compensation claim as part of its Open Advice Review ...