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Showing 331 - 340 of 475 results for "Remediation"

Miscalculations delay remediation, more issues emerge: AMP

JAMIE WILLIAMSON | WEDNESDAY, 28 NOV 2018

... to corporate super clients. Fronting the commission yesterday, Wilkins said in February 2018 AMP's review and remediation committee endorsed a baseline approach to mediation for both fee-for-no-service and inappropriate advice which was initially ...

ANZ lambasted for breach reporting delays

KARREN VERGARA | WEDNESDAY, 28 NOV 2018

... mistakes or errors, and certainly from a systemic nature," he said. Orr then grilled Elliott on why the bank saw customer remediation as a "distraction" - a term he recently used to describe to compensate customers 15 years in the making. Elliott responded ...

Should banks fund customer litigation?

HARRISON WORLEY | TUESDAY, 27 NOV 2018

... Rowena Orr and Commissioner Kenneth Hayne. On the subject of whether NAB should have negotiated with ASIC over the remediation of customers, Henry said NAB's board did not find it acceptable. "I think our habit - and it is a habit - of going to ASIC ...

Royal Commission: ASIC rethinks negotiation tactics

KARREN VERGARA | FRIDAY, 23 NOV 2018

... Rowena Orr that ASIC has "over-utilised" negotiating outcomes for financial misconduct and in hindsight should have run remediation programs in parallel with tougher enforcement investigations. Since July 2011, ASIC has negotiated customer remediation ...

Comyn promises personal accountability

KARREN VERGARA | TUESDAY, 20 NOV 2018

... specifically on consumer credit insurance, and home loan and personal loan protection products. Comyn said the process of remediation is still underway, with $10.5 million repaid to affected customers and another $4.3 million is waiting to repaid. Remediation ...

Banks must reshape to survive compliance and technology crunches

DARREN SNYDER | TUESDAY, 6 NOV 2018

... restructures and simplifications. KPMG partner, banking strategy, Hessel Verbeek said not only have various compliance and remediation costs translated into higher cost-to-income ratios, "the majors' investment spend in risk and compliance projects is ...

Royal Commission hits Westpac cash earnings

JAMIE WILLIAMSON | MONDAY, 5 NOV 2018

Westpac reported a flat net profit of $8 billion with increased remediation provisions and legal costs weighing on the group's cash earnings. The group recorded a 1% increase in net profit year-on-year to $8.095 billion for the 12 months to September ...

NAB signals more bad advice remediation

KARREN VERGARA | THURSDAY, 1 NOV 2018

Among its FY18 results, National Australia Bank flagged that bad advice and fees for no service remediation will continue to dampen its future financial performance. Numerous contingent liabilities and potentially paying out more compensation plagued ...

ANZ wealth flows decline

KARREN VERGARA | WEDNESDAY, 31 OCT 2018

... corresponding period. About $377 million after tax charges have been recognised as refunds to customers and related remediation costs. Chief executive Shayne Elliot said ANZ has taken action to "fast-track fundamental changes" as a result of the Royal ...

Bank-owned advice firm requests ASIC extension

DARREN SNYDER | MONDAY, 22 OCT 2018

... Limited (CFPL) recently requested an extension for Ernst & Young (EY) to produce its final report on the advice firm's remediation processes and its controls over fees for no service. The regulator said CFPL is also seeking an extension to provide its ...

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Global X awards mandate for ETF business

ELIZA BAVIN | 12:33PM

Global X has awarded a new custody and administration mandate for its Australian ETF business.

Bell Asset Management launches small-caps fund

KARREN VERGARA | 11:56AM

Bell Asset Management has formally launched its Australian Small Companies Fund, which is run by former Tyndall Asset Management portfolio managers.

Former Australian Ethical finance chief lands new gig

MATTHEW WAI | 11:09AM

The former chief financial officer of the ethical investment manager has joined a local finance company after wrapping up his tenure at AUB Group.

MySuper assets pursue $1.5tn Choice sector

KARREN VERGARA | 12:20PM

MySuper assets are fast catching up to the $1.5 trillion Choice sector, hitting nearly $1.2 trillion in the March quarter.

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