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Showing 201 - 210 of 473 results for "remediation"

ASIC takes action against BTFM, Asgard, StatePlus

JAMIE WILLIAMSON  |  THURSDAY, 20 AUG 2020
... remediated over $100 million to members, according to the regulator. In 2018, StatePlus had already paid $37.2 million in remediation, and set aside a further $53 million for future remediation related to fees-for-no-service. According to the documents ...

Cash earnings fall, MLC sale pending: NAB

ALLY SELBY  |  FRIDAY, 14 AUG 2020
... separating the operational functions of the wealth management business in July, NAB said it was now focused on customer remediation and enhancing long-term business sustainability to assist with the exit. "NAB will take a disciplined approach to the ...

Embattled AMP sees wealth earnings dive

ELIZA BAVIN  |  THURSDAY, 13 AUG 2020
... cease in the second half and ahead of 1 January 2021 in compliance with the legislative requirements. AMP said client remediation is on track to be 80% complete, and aims to be fully complete in 2021. AMP chief executive Franceso De Ferrari said the ...

CBA profit takes hit, dividend cut

ELIZA BAVIN  |  WEDNESDAY, 12 AUG 2020
... $10.89 billion, up 0.7%, driven by higher staff and IT costs, which the bank said has been partly offset by lower remediation costs. Loan impairment expenses leaped due to the COVID-19 pandemic, rising $1.31 billion to $2.51 billion. Of that, $1.5 billion ...

Super funds slapped over smoker premiums

ALLY SELBY  |  FRIDAY, 7 AUG 2020
... decided to refund affected members, in part or in full, for the higher insurance costs," Press said. "When planned remediation is complete, more than 5000 members will have received more than $3.6 million in compensation." Trustees that have committed ...

Wealth manager takes massive profit hit

ELIZA BAVIN  |  FRIDAY, 31 JUL 2020
... this has helped free up capital and deliver a foundational element if it's transformational strategy. AMP added its remediation program remains on track and is expected to be 80% complete by the end of FY20. "AMP has taken decisive action to support ...

CBA ups remediation bill for advice

ELIZA BAVIN  |  THURSDAY, 30 JUL 2020
The Commonwealth Bank of Australia has announced an extra $300 million has been added to its remediation bill in relation to ongoing service fee and customer remediation costs. CBA said it is constantly addressing the full range of remediation issues ...

IOOF increases FUMA, lifts remediation costs

ANNABELLE DICKSON  |  THURSDAY, 30 JUL 2020
... recorded an increase in funds under management, advice and administration of 3.4% to $202.3 billion while also increasing remediation provisions by $80 million. The wealth manager is expecting an underlying profit from continuing operations of $123 million ...

Colonial First State cops licence conditions

JAMIE WILLIAMSON  |  THURSDAY, 2 JUL 2020
... must also obtain independent verification of the method it will employ to remediate members, notify members of the remediation plan and make a public statement in regards to the plan. APRA is also considering the issue of Suncorp paying tax surpluses ...

AMP approved product list under fire

ELIZABETH MCARTHUR  |  WEDNESDAY, 1 JUL 2020
... opened new superannuation accounts in customer's names to repay fees charged to them for no service as part of its remediation program. "Isn't this adding insult to injury, rather than sending the client a cheque?" Leigh said. De Ferrari said ...