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

Search Results

Showing 11 - 20 of 632 results for %22Financial Services Royal Commission%22

AMP to pay $100m to settle BOLR class action

JAMIE WILLIAMSON  |  THURSDAY, 23 NOV 2023
... double what it initially provisioned. The wealth manager announced this morning it has reached a settlement with AMP Financial Planning advisers in the BOLR class action that dates back to July 2020. After provisioning $50 million for the fallout in ...

Settlement approved in AMP shareholder class action

JAMIE WILLIAMSON  |  WEDNESDAY, 15 NOV 2023
... critical market information that could have affected the share price. This included charging fees to customers where such services were not rendered. The plaintiffs alleged this information was first revealed to the public on 16 and 17 April 2018 during ...

Adviser registration deadline extended again

KARREN VERGARA  |  WEDNESDAY, 20 SEP 2023
... capital raisings. Mandatory adviser registration was a recommendation that stemmed from the Financial Services Royal Commission.

Government passes FAR legislation

KARREN VERGARA  |  WEDNESDAY, 6 SEP 2023
... sector, and individual civil penalties for assisting in the organisation's contravention of its obligations. "Financial services executives make decisions that impact upon the lives of all Australians. They must be held to high standards of accountability ...

Munich Re targets AMP over alleged reinsurance misconduct

ANDREW MCKEAN  |  WEDNESDAY, 23 AUG 2023
... shareholders due to a violent drop in share price following allegations of misconduct by the Financial Services Royal Commission. Most of the $110 million settlement will come from AMP's available insurance proceeds. However, AMP said that it makes "no ...

AMP settles class action for $110m

KARREN VERGARA  |  MONDAY, 21 AUG 2023
... AMP shareholders whose share price tanked following revelations of alleged misconduct by the Financial Services Royal Commission. In May 2019, the NSW Supreme Court ordered the litany of class actions levelled against AMP to merge into one after the ...

Trustees to disclose more remuneration details

KARREN VERGARA  |  WEDNESDAY, 2 AUG 2023
... shine a light on the impact of risk failures and bad behaviour on remuneration outcomes. "The financial services Royal Commission demonstrated conclusively how poorly designed and executed remuneration frameworks can lead to bad outcomes for the community ...

Life, funeral insurers cop $14m fine

KARREN VERGARA  |  WEDNESDAY, 5 JUL 2023
... Federal Court found Russell Howden, also the director of BlueInc, engaged in unconscionable conduct and breaching financial services laws when selling life, funeral and accidental injury insurance. Howden will also have to pay $100,000 in penalties. ...

Jones lifts adviser levy freeze, updates funding model

KARREN VERGARA  |  TUESDAY, 27 JUN 2023
... that make minor changes to the industry funding model following a review. Assistant treasurer and minister for financial services Stephen Jones yesterday announced that he will not extend the temporary levy relief for advisers that was in place in 2020-21 ...

Anti-hawking laws could dampen super fund advice: Academic

KARREN VERGARA  |  TUESDAY, 27 JUN 2023
... dollars in fees to roll the money over, AIST said. Corporate regulator ASIC has been keeping a closer eye on financial services firms spruiking products since the Hayne Royal Commission. Following the hearings, anti-hawking rules related to superannuation ...