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Showing 221 - 230 of 342 results for "Investigations"

FPA expels cheating member

EMMA RAPAPORT  |  THURSDAY, 19 JAN 2017
... insurance application. In 2014, the FPA received a complaint concerning Tindall's conduct in late 2013, and following investigations, recommended the commencement of disciplinary proceedings. The FPA alleged that Tindall's conduct amounted to four breaches ...

Goldman Sachs fined $120m for rate rigging

JAMIE WILLIAMSON  |  FRIDAY, 23 DEC 2016
... and have already taken steps to enhance our policies and procedures." This case is just the latest in a series of investigations into Goldman Sachs, which has seen the bank shell out over $5 billion in penalties in 2016 alone. In 2015 Barclays also settled ...

ASIC bans life insurance adviser

ALEX BURKE  |  FRIDAY, 9 DEC 2016
... advice. Mohammed was said to have failed to make reasonable inquiries into clients' financial objectives and conduct investigations into financial products that suited said objectives. ASIC also found he submitted an insurance application without his ...

JPMorgan Chase to pay bribery fines

KERRIE SYDEE  |  FRIDAY, 18 NOV 2016
... a statement JPMorgan Chase & Co said: "We're pleased that our co-operation was acknowledged in resolving these investigations." "The conduct was unacceptable. We stopped the hiring program in 2013 and took action against the individuals involved. We ...

CommInsure update champions progress

KERRIE SYDEE  |  WEDNESDAY, 9 NOV 2016
... of its operations, including upgrading its product offering, reviewing past declined claims and making further investigations into allegations made in media reports. In a statement CommInsure said that claims staff did not receive incentives to decline ...

ASIC secures $210m in compensation

ALEX BURKE  |  THURSDAY, 3 NOV 2016
... was largely driven by "six matters," which comprised 79% of total dollar compensation. ASIC also commenced more investigations over the financial year (97) than in FY15 (77), but completed fewer (79 versus 88). It's a positive outcome for the regulator ...

ASIC confirms systemic failures in advice

KERRIE SYDEE  |  THURSDAY, 27 OCT 2016
... these businesses. In a statement, ASIC said refunds and compensation are expected to increase substantially as investigations into the licensees and reviews continue. Based on estimates provided by licensees to ASIC, compensation may increase to approximately ...

Life Insurance Code targets self-regulation

MARK SMITH  |  TUESDAY, 11 OCT 2016
... conducted and monitored; remedies for mis-selling; a clear process for claims handling; and standards for claims investigations, including interviews and surveillance. The industry body has also developed a minimum standard medical definition for heart ...

More poor customer outcomes expected: Narev

JAMIE WILLIAMSON  |  WEDNESDAY, 5 OCT 2016
... response, Narev acknowledged the bank had done wrong by some customers in the CommInsure business and reinforced that investigations were ongoing, though he concluded by implying the issues are not as grave as they seem, saying: "The goal is to put things ...

ASIC compensation plummets despite surveillance success

ALEX BURKE  |  MONDAY, 8 AUG 2016
... increased its number of criminal charges issued from 42 to 96 and infringement notices from 20 to 75 although completed investigations climbed only slightly from from 86 to 93. "The recent enforcement outcomes highlighted in this report reflect ASIC's ...