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Showing 211 - 220 of 900 results for "Compensation"

Westpac settles BT Super class action

CASSANDRA BALDINI  |  MONDAY, 19 DEC 2022
... Funds Management Limited and Westpac Life Insurance Services Limited. Tens of thousands of Australians may receive compensation following the settlement, which is subject to court approval and negotiated on behalf of customers who had invested their ...

AFCA secures $900m in compensation

CASSANDRA BALDINI  |  MONDAY, 21 NOV 2022
Australians have taken home almost $900 million in compensation and refunds since the ombudsman service opened its doors in November 2018. The Australian Financial Complaints Authority (AFCA) said it's also handled more than 300,000 disputes, an ...

ANZ to pay $42m in insurance lawsuit

CASSANDRA BALDINI  |  MONDAY, 14 NOV 2022
... are all subject to court approval, are expected to result in up to one million customers being eligible to receive compensation for the CCI they were sold. The firm explained many customers were ineligible or unlikely to make a claim because they were ...

Former DASS clients flood AFCA with complaints

JAMIE WILLIAMSON  |  TUESDAY, 8 NOV 2022
... delays. However, the fact that they've made a complaint does mean they will be eligible for restitution under the Compensation Scheme of Last Resort if and when it comes into being. Dixon Advisory went into voluntary administration in January of this ...

Central banks to tighten on all sides: BlackRock

CHLOE WALKER  |  TUESDAY, 1 NOV 2022
... nearly 250 basis points since the start of the year." While investors aren't yet demanding significantly higher compensation, or term premium, for the risk of holding long-term bonds, BII believes that quantitative tightening could push up term premium ...

FPA seeks broader scope for CSLR

CHLOE WALKER  |  MONDAY, 10 OCT 2022
... the Financial Planning Association of Australia (FPA) has called on the federal government to broaden its proposed compensation scheme of last resort (CSLR) and to extend the ASIC levy freeze for advisers for another year. The FPA believes that the current ...

ASIC updates remediation rules

CHLOE WALKER  |  TUESDAY, 27 SEP 2022
... product specific guidance on possible monetary and non-monetary remedies, updates guidance on the use of a low value compensation threshold and payment channels, and presents guidance on what to do if a consumer cannot be contacted or paid. It also helps ...

CSLR legislation tabled, advice sector responds

ANDREW MCKEAN  |  FRIDAY, 9 SEP 2022
The government has advanced its commitment to establish a Compensation Scheme of Last Resort (CSLR), releasing for consultation exposure draft regulations. The CSLR will facilitate the payment of compensation of up to $150,000 to eligible consumers ...

Final Royal Commission reforms to be tabled, YFYS review begins

JAMIE WILLIAMSON  |  WEDNESDAY, 7 SEP 2022
... Conference of Major Super Funds this morning. Appearing via video, Jones said he will introduce the bill to introduce the Compensation Scheme of Last Resort and the Financial Executive Accountability Regime. "This is long overdue and should have been ...

Remediation bills revealed amid call for levy freeze extension

JAMIE WILLIAMSON  |  WEDNESDAY, 24 AUG 2022
Six of the largest financial institutions have paid or offered a total of $3.6 billion in compensation to consumers over fees for no service and non-compliant advice. The new stats come as the Financial Planning Association of Australia calls for an ...