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

Search Results

Showing 261 - 270 of 473 results for "remediation"

YBR to remediate wealth clients

KARREN VERGARA  |  FRIDAY, 30 AUG 2019
... for instances where it is established that a breach of the Corporations Act has occurred and where the appropriate remediation action may require financial compensation," latest statutory accounts read. Overall, YBR made a net loss after tax of $37.39 ...

Dividend payouts stagnate

KARREN VERGARA  |  MONDAY, 26 AUG 2019
... announced in the first half of 2020 as a result of ultra-low rates putting pressure on earnings, subdued revenue, remediation and credit charges bouncing off lows, UBS said in a banking sector note. Further, UBS forecasted an ongoing trend of regulators ...

KPMG names financial services head

HARRISON WORLEY  |  MONDAY, 26 AUG 2019
... said his role would see him ensure the firm met the changing needs of its clients, drawing on its recent launch of a remediation centre to help clients deal with increased redress costs following the Royal Commission. "As a firm we recognise that our ...

IOOF advice remediation hits $235m

KARREN VERGARA  |  MONDAY, 26 AUG 2019
... fees for no service rendered. The ASX-listed firm's June 2019 financial results were overshadowed by its client remediation bill that is expected to hit $392 million (includes other related costs). This is further split into former ANZ aligned dealer ...

APRA opens margin requirement talks

HARRISON WORLEY  |  THURSDAY, 15 AUG 2019
... applied to an institution outside the big four banks since the CBA prudential inquiry - would remain in place until its remediation work was complete and identified gaps were closed.

APRA hits Allianz over risk

HARRISON WORLEY  |  WEDNESDAY, 14 AUG 2019
... million capital requirement by the prudential regulator following its risk governance self-assessment, which revealed remediation work was underway to strengthen its risk management and close gaps in its governance. The additional capital requirement ...

CBA remediation bill drags performance

KARREN VERGARA  |  WEDNESDAY, 7 AUG 2019
Commonwealth Bank's overall remediation and compliance costs have hit $2.2 billion, dragging its full-year June 2019 results. A large chunk ($806m) of the bank's customer remediation bill will go towards implementing regulatory and compliance ...

Financial Wisdom to shut down

JAMIE WILLIAMSON  |  WEDNESDAY, 7 AUG 2019
... internal project costs, is approximately $26 million," Commonwealth Bank said. Its results show that in FY19, excluding remediation provisions, Financial Wisdom and CFP Pathways incurred a post-tax loss of about $11 million. Remediation for customers ...

More scrutiny for super fund, insurance firm chiefs

KARREN VERGARA  |  MONDAY, 5 AUG 2019
... year, ANZ chief executive Shayne Elliott appeared before the House of Representatives, admitting that the bank saw its remediation programs as a "distraction" and at one point took up to 15 years to compensate some customers Elliot said some customers ...

ASIC reveals advice remediation progress

HARRISON WORLEY  |  THURSDAY, 1 AUG 2019
... 2017 report by ASIC into how the big banks and AMP oversee financial advisers has netted less than $120 million in remediation to date. AMP, ANZ, Commonwealth Bank, NAB and Westpac have paid a total of $119.7 million [see figure 1] in remediation for ...