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Showing 281 - 290 of 475 results for "remediation"

AMP Super, board slapped with licence conditions

KARREN VERGARA  |  FRIDAY, 14 JUN 2019
... areas that needed improvement: conflicts of interest management, governance and risk management practices, breach remediation processes, addressing poor risk culture and strengthening accountability mechanisms. The new directions will force AMP Super ...

CBA sells advice dealer group

JAMIE WILLIAMSON  |  THURSDAY, 13 JUN 2019
... morning Count Financial is home to 351 active financial advisers. CBA will continue to support and manage customer remediation matters arising from past issue at Count Financial, including following the completion of the transaction. CBA will provide ...

Consolidation hits super fund administrators

KARREN VERGARA  |  FRIDAY, 31 MAY 2019
... lower, and will fall between $195 million to $205 million (FY18: $206.7m). Earnings will also take a hit as a result of remediation costs associated with a client migration in 2018. Link did not disclose the client affected. Meanwhile, Mainstream Group ...

Advice dealer group shutters

HARRISON WORLEY  |  FRIDAY, 31 MAY 2019
... party - later revealed to be Genus Life Insurance Services - for $5 million to help ensure it could pay remaining remediation costs and meet the demands of its creditors. At the time, Freedom said Spectrum would close after transferring the admin business. ...

Hard times ahead for platforms

KANIKA SOOD  |  THURSDAY, 23 MAY 2019
... headwinds impact both AMP and IFL; however IFL's higher relative exposure, slower response on fees, greater advice remediation risk and lower tangible capital position underpin our more cautious view relative to AMP (neutral)."

Material weakness in super funds, insurers exposed

KARREN VERGARA  |  THURSDAY, 23 MAY 2019
... institutions shortly. "Boards should expect increased supervisory scrutiny of their institutions as they implement remediation actions. Also, in a number of cases, the weaknesses identified in the self-assessment were sufficiently material that APRA ...

ANZ changes advice model, cuts Prime Access

JAMIE WILLIAMSON  |  FRIDAY, 17 MAY 2019
... private banking and advice, Mike Norfolk said. Prime Access was introduced in 2003. In 2015 ANZ launched a $50 million remediation program to refund customers that did not receive an annual review between 2006 and 2013. In April 2018, the group entered ...

CBA remediation bill crosses $2bn

KANIKA SOOD  |  MONDAY, 13 MAY 2019
Commonwealth Bank has seen $714 million added to its remediation bill, pushing its total to date over $2.17 billion. The third quarter addition was flagged by CBA in company filings this morning. So far, CBA has spent or provisioned $534 million on ...

The state of the banks

ELIZABETH MCARTHUR  |  TUESDAY, 7 MAY 2019
... challenges facing the banks include slow lending growth and a softer domestic economy. There's also the significant cost of remediation following the Royal Commission, as well as the challenge of rebuilding trust with customers. KPMG Australia's head ...

Westpac profits down 24%, dividend flat

KANIKA SOOD  |  MONDAY, 6 MAY 2019
... disappointing result reflecting weaker business conditions and the bank dealing decisively with outstanding issues, including remediation and resetting out wealth strategy," Westpac group chief executive Brian Hartzer said. The past six months has been ...