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Showing 251 - 260 of 899 results for "Compensation"

Perpetual ups acquisition liability

KARREN VERGARA  |  FRIDAY, 13 AUG 2021
... acquisition as it revalues the remuneration paid to staff. The firm originally estimated that the amount of incentive compensation accrued to be $2.1 million. This has jumped to $10.2 million. This is because the methodology used to calculate the accrued ...

Profit boost for CBA, ups remediation bill

KARREN VERGARA  |  WEDNESDAY, 11 AUG 2021
... has climbed to $260 million. "Remediation amounts will not be known until individual cases have been reviewed and compensation offers made," the firms said. This is still within the $300 million limit that CBA foreshadowed when CountPlus entered into ...

Westpac tops fee-for-no-service misconduct

KARREN VERGARA  |  THURSDAY, 5 AUG 2021
... fees slugged in return for no service affecting 677,531 customers, Commonwealth Bank is footing a $169.3 million compensation bill, while AMP's $230.4 million affects 225,513 customers. Macquarie has the lowest amount, its bill stood at $4.6 million. ...

CSLR raises concern among advisers

KARREN VERGARA  |  FRIDAY, 23 JUL 2021
The Association of Financial Advisers (AFA) has raised concerns about the cost of the government's proposed Compensation Scheme of Last Resort and the fact that super funds and managed investment schemes are excluded from the proposed regulation. ...

FAR draft legislation released

KANIKA SOOD  |  MONDAY, 19 JUL 2021
... be jointly administered by ASIC and APRA. The government has also released the draft legislation establishing the Compensation Scheme of Last Resort, which was also recommended by the Royal Commission. "The establishment of the Compensation Scheme of ...

OnePath to remediate over pressure selling

ELIZABETH MCARTHUR  |  MONDAY, 12 JUL 2021
... market. ASIC has delivered deterrence through court action, disruption and improvement in sales practices and delivered compensation to tens of thousands of consumers who have suffered harm," ASIC deputy chair Karen Chester said. "Better industry practice ...

Superannuation complaints down 31%: AFCA

KANIKA SOOD  |  MONDAY, 5 JUL 2021
... into systematic issues totalled about $32 million in the 12 months, it said, taking the total to $610 million in compensation and refunds, and over $200 million in remediation payments since AFCA's start in November 2018. AFCA chief executive David Locke ...

ASIC looks to tighten crypto ETP oversight

JAMIE WILLIAMSON  |  WEDNESDAY, 30 JUN 2021
... expertise and infrastructure for cryptoasset custody and assets are segregated on the blockchain, and an appropriate compensation scheme is in place in the event things go awry. In terms of disclosure, ASIC is proposing responsible entities disclose ...

MLC Life appoints claims chief

KARREN VERGARA  |  THURSDAY, 10 JUN 2021
... superannuation and workplace health division. Between 2005 and this year, Beevors worked in the areas of workers compensation and claims. He helped modernise QBE's workers compensation claims model and more recently oversaw general insurance claims as ...

CFAs not immune to pay cuts

KANIKA SOOD  |  TUESDAY, 8 JUN 2021
... a pay cut for other reasons, and 6% reported an employment status change in 2020. The majority's job security and compensation was relatively resilient during the pandemic, CFA Institute said. "This included variable compensation. Since most markets ...