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Showing 171 - 180 of 473 results for "remediation"

Westpac exec goes part-time

ANNABELLE DICKSON  |  TUESDAY, 9 MAR 2021
... undertaking (CEU). The CEU requires Westpac to develop an integrated plan that incorporates all major risk governance remediation programs covering financial and non-financial risks and have independent assurance over the implementation of the plan and ...

Adviser levy to increase by 160%

ELIZABETH MCARTHUR  |  FRIDAY, 5 MAR 2021
... in 2017-18 to more than $56 million in 2019-20, the group alleges this funding is needed due to the supervision and remediation of historic advice deficiencies at the big banks. The advice bodies are calling for the government to review the industry ...

ASIC takes Statewide Super to court

JAMIE WILLIAMSON  |  THURSDAY, 4 MAR 2021
... administration error, the organisation self-reported to ASIC, while conducting a forensic examination and developing a remediation plan. Statewide Super has actively sought to cooperate with ASIC at all times." "Statewide Super continues to progress ...

ASIC takes NAB to court

KANIKA SOOD  |  THURSDAY, 25 FEB 2021
... mischarging (22 February 2019). The Federal Court is yet to make orders. As at 4 December 2020, NAB had paid $7.7 million in remediation, which is still ongoing. It did not remediate clients who no longer had an account with NAB. If they had less than ...

Westpac prioritises risk management

KARREN VERGARA  |  WEDNESDAY, 17 FEB 2021
... and counter terrorism laws, the bank flagged it is still strengthening its risk management around financial crime remediation. Several outstanding issues such as complex IT systems, risk management and approach to risk continue to be pain points. The ...

Banks return $1.2bn for bad advice

ELIZA BAVIN  |  FRIDAY, 12 FEB 2021
... no service misconduct or non-compliant advice. AMP, ANZ, CBA, Macquarie, NAB and Westpac undertook the review and remediation programs to compensate affected customers as a result of two major ASIC reviews. The reviews were launched by the regulator ...

ASIC consults on consumer remediation

ELIZABETH MCARTHUR  |  THURSDAY, 3 DEC 2020
ASIC has released a consultation paper to update the regulatory guide on client review and remediation conducted by financial advice licensees. Regulatory Guide 256: Client review and remediation conducted by advice licensees will be clarified through ...

Westpac enters into court enforceable undertaking

ANNABELLE DICKSON  |  THURSDAY, 3 DEC 2020
... undertaking (CEU). The CEU requires Westpac to develop an integrated plan that incorporates all major risk governance remediation programs covering financial and non-financial risks and have independent assurance over the implementation of the plan and ...

APRA takes action against Westpac

JAMIE WILLIAMSON  |  TUESDAY, 1 DEC 2020
... reviews by independent third parties of Westpac's compliance with APRA's liquidity reporting requirements and the remediation of its control framework for liquidity risk management. Until the findings from those reviews are addressed to APRA's satisfaction ...

CountPlus to continue acquisition spree

ANNABELLE DICKSON  |  MONDAY, 16 NOV 2020
... advice sector," CountPlus chief executive Matthew Rowe said. Further to this, CountPlus provided an update on client remediation matters relating to its subsidiary Count Financial. As at September 30, there are 1732 Count Financial client remediation ...