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Showing 11 - 20 of 37 results for %22Banking Code of Practice%22

Banks vow to end grandfathered commissions

KANIKA SOOD  |  WEDNESDAY, 10 OCT 2018
... ABA is seeking new legislative changes to the Future of Financial Advice (FoFA) reforms. It is also overhauling its banking code of practice to stop banks from charging fees to deceased client, as it moves towards ending fees for no service across the ...

Industry body rejects ABA banking code

KANIKA SOOD  |  MONDAY, 10 SEP 2018
... Association chief executive Anna Bligh's call for mutual banks, credit unions and building societies to adopt the ABA's new banking code of practice has been labelled "gratuitous" by an industry body which says a better code of practice is already in ...

New code should apply to all: ABA

HARRISON WORLEY  |  FRIDAY, 7 SEP 2018
The Australian Banking Association (ABA) believes the new Banking Code of Practice standards should be adopted across the entire industry, including banks that are not ABA members. According to the association, the standards between credit unions, buildings ...

ABA appoints deputy chair

KANIKA SOOD  |  FRIDAY, 29 JUN 2018
... important industry reform initiatives such as the Better Banking Reform Program, which included a complete rewrite of the Banking Code of Practice. There is no doubt his wise counsel and guidance will be missed by all ABA member banks," ABA said in a ...

Industry welcomes final Better Banking report

HARRISON WORLEY  |  WEDNESDAY, 18 APR 2018
... community expectations, such as changing the way bank staff are paid and improving customer protections under the new Banking Code. "While this is the final report by Ian McPhee, the industry has taken his advice and will be putting in place further ...

Lawyers slam life insurers in Royal Commission

KARREN VERGARA  |  FRIDAY, 6 APR 2018
... to prove it can self-regulate via its two "deficient" codes, according to Maurice Blackburn Lawyers' submission to the banking Royal Commission. There have been more than 700 breaches of the Life Insurance Code of Practice in the short time it took effect ...

PJC doubts life insurance industry can self-regulate

KARREN VERGARA  |  WEDNESDAY, 28 MAR 2018
... to foster competition, legislate choice and ensure the best interests of clients are served." In terms of extending the Banking Executive Accountability Regime (BEAR) to life insurers, the FSC said it does not support this recommendation given it was ...

ABA makes new code compulsory

KANIKA SOOD  |  MONDAY, 26 MAR 2018
... banks wishing to be members of the Australian Banking Association (ABA) will now have to sign up for its revamped Banking Code of Practice, which is currently awaiting ASIC's nod of approval. The new code will be binding, enforceable by law and will ...

Independent expert awaits bank remuneration guidelines

ALEX BURKE  |  FRIDAY, 19 JAN 2018
... Sedgwick Review recommendations and early efforts to change policies and practices in order to align to the revised Code of Banking Practice." "It is also encouraging to see collaboration across the industry through measures such as the Customer Advocate ...

HSBC cops historic fine for Lehman-linked failures

JAMIE WILLIAMSON  |  WEDNESDAY, 22 NOV 2017
The Hong Kong branch of HSBC's private banking division was fined a record HK$400 million (AU$67 million) for material systemic failures in the lead up to the GFC. Hong Kong's Securities and Futures Appeals Tribunal upheld the Securities and Futures ...