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Showing 301 - 310 of 482 results for "Remediation"

Westpac reveals Magnitude, Securitor adviser remediation

HARRISON WORLEY  |  WEDNESDAY, 1 MAY 2019
... operated under the Magnitude and Securitor advice licenses between 2008 and 2018. This is expected to cover the bank for remediation payments up to $297 million, as well as $138 million in interest costs and $75 million in costs associated with running ...

Swiss Re to manage Freedom remediation

KANIKA SOOD  |  TUESDAY, 30 APR 2019
Swiss Re has agreed to take on the responsibility of designing and managing Freedom Insurance Group's customer remediation program. Freedom confirmed Swiss Re as the remediation manager, and Genus Life Insurance Services Pty Ltd as the third party to ...

CBA owes staff $15 million

ELIZABETH MCARTHUR  |  THURSDAY, 18 APR 2019
... will receive back pay with interest and their leave balances adjusted where applicable," she added. "We have begun remediation and the first tranche will involve approximately 8,000 current and former employees receiving back pay totalling $4.8 million ...

NAB remediation bill hits $1.1bn

JAMIE WILLIAMSON  |  THURSDAY, 18 APR 2019
National Australia Bank has set aside an additional $525 million for customer remediation, more than 90% of which is in relation to its wealth operations. The total owing is now estimated at more than $1.1 billion. Announced today, the $525 million ...

Citi to pay $3m in advice remediation

HARRISON WORLEY  |  TUESDAY, 16 APR 2019
... pointed out that advisers have "higher obligations" and disclosure requirements when providing personal advice. Citi's remediation issue comes just weeks after ASIC released a report saying consumers are confused by the different types of financial advice. ...

CBA, ASIC move to resolve AFSL conditions

KANIKA SOOD  |  WEDNESDAY, 10 APR 2019
... advised by five of its advisers, according to KordaMentha Forensic's fifth and final report. This takes CBA's total remediation bill in relation to the issues and other identified throughout the review to $9.3 million. The initial action stems from Commonwealth ...

KPMG partner moves to GROW Super

KARREN VERGARA  |  MONDAY, 8 APR 2019
... benefit the entire industry." Separately, KPMG recently launched a hiring spree to support clients with financial advice remediation efforts. As wealth managers further move to remediate customers for various fees for no service and financial advice ...

IOOF appoints head of advice governance

HARRISON WORLEY  |  FRIDAY, 5 APR 2019
A director of Westpac's advice remediation program has been appointed to lead advice governance at IOOF. David Flynn is set to link with the wealth manager later this month as its new head of advice governance, replacing Adrian Kwa who is set to ...

NAB needs 500 staff for remediation

ELIZABETH MCARTHUR  |  FRIDAY, 29 MAR 2019
... Chronican replied he was not aware of the "individual issues at ANZ". When asked by the committee what the quantum of remediation payments have been made in the past couple of years by NAB, chief financial officer Gary Lennon answered: "That's in the ...

TAL to add remediation head

HARRISON WORLEY  |  TUESDAY, 26 MAR 2019
TAL is recruiting for a new position that will lead remediation efforts. The diversified financial services firm is hiring a head of operational resilience and remediation, to "lead remediation and rectification activities." TAL general manager customer ...