Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 211 - 220 of 475 results for "remediation"

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 ...

Super fund members compensated

JAMIE WILLIAMSON  |  FRIDAY, 26 JUN 2020
... where Commissioner Hayne did not find any licensee breach on the evidence before Commission, Aon Australia said. The remediation was paid for by AHFA, not smartMonday. Part of the business of AHFA has since been the subject of a management buyout, following ...

Aussie financial firms struggle to manage risk: Study

ALLY SELBY  |  TUESDAY, 9 JUN 2020
... risk culture, ensuring the mistakes of yesterday are not repeated. "The stakes have never been higher, and ongoing remediation programs are strong reminders of the consequences of improper compliance and risk monitoring."

CBA coughs up $5m over RC case study

ALLY SELBY  |  TUESDAY, 9 JUN 2020
ASIC has trumped the Commonwealth Bank for failures in its AgriAdvantage Plus Package, with the Federal Court of Australia ordering the bank to cough up a $5 million penalty. On Friday, the Court found that the bank had breached the ASIC Act and Corporations ...

Dealer groups slam FPA policy

ELIZABETH MCARTHUR  |  THURSDAY, 4 JUN 2020
... failed to consider. "Additionally, licensees provide capital protection in the event of poor advice or importantly, remediation when needed, in the event there is no recourse through the adviser," the statement said. "The FPA policy is a surprise and ...

38 staff punished over AUSTRAC scandal: Westpac

ELIZA BAVIN  |  THURSDAY, 4 JUN 2020
... problems were faults of omission. There was no evidence of intentional wrongdoing." McFarlane said the bank's remediation program focused on strengthening all aspects of nonfinancial risk management. "We accept the recommendations of the Advisory ...

Boutique to remediate clients

KANIKA SOOD  |  WEDNESDAY, 3 JUN 2020
... adjustment in the funds' NAV in May. For clients who were affected but have since redeemed from the funds, the remediation was is to be undertaken separately. The eight funds affected by the unit pricing error were: Alpha Alternatives Fund, Alpha ...

Super fund to remediate members

KANIKA SOOD  |  WEDNESDAY, 27 MAY 2020
... Australian bonds holdings. REI Super said the average estimated credit is less than $60 per member, and the effect of remediation on fund members as a whole is "minimal". It initially flagged the remediation in its audited accounts for last financial ...

Law firm bolsters financial services team

ELIZA BAVIN  |  FRIDAY, 15 MAY 2020
... direction, good governance, managing risks, implementing regulatory change, their relationships with regulators, and remediation programmes. In addition, Henry will assist those who invest into that sector by project managing due diligence, conducting ...