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Showing 201 - 210 of 1369 results for "AFFECTED"

AFCA consults on advice, MIS compensation

KARREN VERGARA  |  TUESDAY, 7 NOV 2023
... financial advice and managed investment schemes (MIS). This includes how AFCA should determine compensation for investors affected by MIS's that failed or became insolvent. A consumer who suffers loss arising from advice to invest in a MIS can bring ...

Super fund, insurer admin issues draw AFCA complaints

KARREN VERGARA  |  MONDAY, 23 OCT 2023
... require trustees to process rollovers between three and 30 days after receipt of instructions. Some 15,000 members were affected. They will be remediated in due course as the super fund has rectified its issues. Another super fund's administrator ...

Australia vulnerable to further shocks: RBA

CASSANDRA BALDINI  |  MONDAY, 9 OCT 2023
... challenging for highly indebted businesses that are already drawing down on their cash buffers, the RBA said. Companies affected by significant declines in profits and low cash buffers are more likely to reduce their number of employees, and therefore ...

AMP shareholder class action settlement slashed

KARREN VERGARA  |  MONDAY, 9 OCT 2023
... misconduct during the Hayne Royal Commission, alleged that AMP failed to disclose critical market information that could have affected the share price. This included charging fees to customers where such services were not rendered. The plaintiffs known ...

Farmers distressed by superannuation tax overhaul

ANDREW MCKEAN  |  THURSDAY, 5 OCT 2023
... industry and farming groups, pushing ahead with superannuation reforms without clear Treasury modelling on the number of affected primary producers and family businesses. "Labor is misleading regional, rural and remote Australia, breaking its promise ...

Cbus scolded over 'most galling conflict' in super

ANDREW MCKEAN  |  TUESDAY, 3 OCT 2023
... affordable rental homes within the next five years. Notably, this includes 4000 homes specifically for women and children affected by family and domestic violence, as well as older women at risk of homelessness. However, despite the $10 billion HAFF ...

Super tax break changes open for consultation

KARREN VERGARA  |  TUESDAY, 3 OCT 2023
... receive tax breaks, just slightly less generous. The remaining 99.5% of Australians with superannuation accounts are not affected at all," he said in releasing the draft legislation. Members with negative superannuation earnings from balances above $3 ...

ANZ hit with $15m penalty for misleading customers

ANDREW MCKEAN  |  TUESDAY, 26 SEP 2023
... 186,000 accounts for erroneous fees and interest on cash advances. While the average remediation amount is around $45 per affected account, some individual customers were charged thousands of dollars in fees. On top of the $15 million penalty, the bank ...

Licensees shun remediation obligations: ASIC

KARREN VERGARA  |  TUESDAY, 26 SEP 2023
... appropriate in the circumstances," ASIC said. Some licensees are not taking reasonable endeavours to contact and pay affected clients. ASIC found examples of prescriptive approaches, such as a predefined number of contact attempts, which may be insufficient ...

NAB to pay $2.1m for knowingly overcharging customers

JAMIE WILLIAMSON  |  FRIDAY, 22 SEP 2023
... We have completed a remediation program to set things right and repaid more than $8.3 million of fees plus interest to affected customers," the bank said.