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Showing 191 - 200 of 899 results for "Compensation"

Suncorp wage scandal comes to a head

ANDREW MCKEAN  |  FRIDAY, 9 JUN 2023
... in wages and entitlements, $4.5 million in interest, and an additional $1.4 million in superannuation. Individual compensation ranged from $1 to $54,951, but the average underpayment per affected employee stood at $1687. All the remaining underpayments ...

Qantas Super appoints deputy investment chief

ELIZABETH FRY  |  FRIDAY, 12 MAY 2023
... the manager of investments. He joined the fund from WorkCover New South Wales - the statutory body for workers' compensation - where he was responsible for managing the $12 billion investment portfolio. The mid-sized asset owner is one of Australia's ...

$100bn withdrawal triggers First Republic stock plunge

ANDREW MCKEAN  |  WEDNESDAY, 26 APR 2023
... preferred stock. The bank is also taking steps to reduce expenses, including significant reductions in executive compensation, condensing corporate office space, and reducing non-essential projects and activities. Further, the bank expects to slash its ...

Adviser complaints rise, super complaints decrease

KARREN VERGARA  |  WEDNESDAY, 19 APR 2023
... complaints for the June to December period. Only 20,926 were resolved at period-end and about $106 million was paid out in compensation. Bank-related complaints comprise the lion's share (16,654), followed by general insurer (10,639) and credit provider ...

AFCA chief to serve second term

JAMIE WILLIAMSON  |  THURSDAY, 13 APR 2023
... chief executive and chief ombudsman of the Australian Financial Complaints Authority, as the body marks $1 billion in compensation delivered to consumers since its inception. Locke will serve a second five-year term, commencing June 28. "As AFCA's inaugural ...

Cut spending and raise taxes, super preservation age: Grattan

JAMIE WILLIAMSON  |  WEDNESDAY, 12 APR 2023
... redesigning the Stage 3 tax cuts so they are less generous to the highest income earners; raising GST to 15% with compensation for the most vulnerable households and 50% of the revenues shared among the states; winding back tax fuel credits for businesses ...

Jones to prioritise CSLR legislation

KARREN VERGARA  |  TUESDAY, 21 MAR 2023
Assistant treasurer Stephen Jones flagged he will prioritise the passage of the Compensation Scheme of Last Resort (CSLR) laws in a bid to strengthen consumer protections. "Right now, there are around 2000 cases on hold with the Australian Financial ...

Wealth managers bracing for compensation claims

CASSANDRA BALDINI  |  WEDNESDAY, 15 MAR 2023
A rise in compensation claims from clients is expected over failure to understand risk suitability and will lead to tougher regulation, research suggests. New research from Oxford Risk revealed 58% of wealth managers, who collectively manage assets ...

FPA voices concern on proposed CSLR, FAR laws

ANDREW MCKEAN  |  FRIDAY, 10 MAR 2023
The Financial Planning Association of Australia (FPA) has voiced concerns over the proposed Compensation Scheme of Last Resort (CSLR) and Financial Accountability Regime (FAR) legislation. While acknowledging the positive impact of an effective CSLR ...

Dodgy advice bill nears $5bn: ASIC

CASSANDRA BALDINI  |  FRIDAY, 10 MAR 2023
... to give appropriate advice or to act in the best interests of the clients, at the time the advice was given. "ASIC compensation for financial advice-related misconduct project has shone a light on the advice fees that customers are paying and the services ...