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Showing 221 - 230 of 473 results for "remediation"

CBA sells 55% of CFS

JAMIE WILLIAMSON  |  WEDNESDAY, 13 MAY 2020
... to deliver long-term benefits to its member-base." The sale is not expected to have any impact on CFS's ongoing remediation programs which will continue as planned. CFS will also continue to assist regulators with any future matters, CBA said. Upon ...

AMP defends hefty remuneration bill

ELIZABETH MCARTHUR  |  FRIDAY, 8 MAY 2020
... caused the public to doubt the business' commitment to customers. De Ferrari was at one point asked what the median remediation payout was for customers. He did not answer the question but said AMP had made a decision to repay all clients with low ...

Westpac to review business units

JAMIE WILLIAMSON  |  MONDAY, 4 MAY 2020
... credit losses have been increased to $5.8 billion, he said. The group also booked an after-tax cost of $258 million for remediation in the first half. This included for customers who were provided with business loans where they should have been provided ...

NAB remediation bill grows

ELIZABETH MCARTHUR  |  MONDAY, 20 APR 2020
National Australia Bank has seen another $268 million added to its bill for customer remediation. The increase in customer-related remediation costs for the big bank comes to $188 million after tax. NAB says it expects the additional costs to reduce ...

Court confirms Storm Financial founders breached duties

JAMIE WILLIAMSON  |  FRIDAY, 27 MAR 2020
... of Queensland for those clients who borrowed through the bank to invest. They are unlikely to receive any further remediation. To date, the Cassimatis' have maintained it was the Global Financial Crisis that led to the losses - not the Storm model. ...

COVID-19 uncertainty sees AMP withdraw guidance

ALLY SELBY  |  THURSDAY, 26 MAR 2020
... well as AMP's divestment process from its New Zealand-based wealth management business. The firm's client remediation program is on track to be 80% complete by the end of FY20 and fully complete in 2021, AMP said. AMP said it has activated its ...

Why remediation jobs aren't short-term

ELIZABETH MCARTHUR  |  TUESDAY, 24 MAR 2020
The woman who ran BT Financial Group's advice remediation program has revealed what financial advisers need to know about remediation, and why some of the banks may make their remediation teams permanent. Melissa Bogg was program director and head ...

Financial regulators poised for action

HARRISON WORLEY  |  MONDAY, 16 MAR 2020
... financial markets, including the relaxation of some regulatory requirements and the acceleration of outstanding customer remediation. As COVID-19 impacts global financial markets, Australia's regulators have outlined plans to ensure the local system ...

IOOF profits fall 39%, advice margins drop

KANIKA SOOD  |  TUESDAY, 18 FEB 2020
... revenue share. IOOF said Shadforth advisers have increased their clients' weighting to IOOF portfolio administration. Remediation estimate was held at $223 million and IOOF expects to commence remediation payments by June this year.

Advisers choose remediation over advice

ELIZABETH MCARTHUR  |  FRIDAY, 14 FEB 2020
... revealed advertisements for jobs in financial advice are only attracting between two and eight applications, while advice remediation jobs can see up to 300 applicants. Christopher Gordon is director at Profusion Group, a recruiter that specialises in ...