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

Search Results

Showing 331 - 340 of 750 results for "Senate 67"

Lawyer slams NAB compensation scheme

LAURA MILLAN  |  FRIDAY, 22 MAY 2015
National Australia Bank (NAB)'s program to compensate victims of bad financial advice lacks independence and does not go far enough, a lawyer representing some of the victims said. Shine Lawyers financial negligence solicitor Sasha Ivantsoff spoke to ...

NAB upgrades advice compensation program

LAURA MILLAN  |  THURSDAY, 21 MAY 2015
National Australia Bank (NAB) has upgraded the compensation program for victims of bad advice with the appointment of a consumer advocate. University of NSW professor of Law Dimity Kingsford Smith will act as a consumer advocate within NAB Wealth's ...

Budget projections risk being too optimistic, economists warn

LAURA MILLAN  |  TUESDAY, 12 MAY 2015
Chief economists from major financial institutions have warned that the Government's projected revenue growth included in Budget 2015 risks being too optimistic. AMP chief economist Shane Oliver acknowledged that Treasurer Joe Hockey replaced the focus ...

Goldman ordered to pay $100m to NAB

STAFF WRITER  |  TUESDAY, 12 MAY 2015
Goldman Sachs has been ordered to pay US$80 million, plus around US$20 million in interest, to National Australia Bank for breaking rules related to the sale of mortgage-linked securities before the financial crisis. The US Financial Industry Regulatory ...

Budget for uncertainty

BENJAMIN ONG  |  TUESDAY, 12 MAY 2015
Yes! This was my jubilant exclamation as I watched the S&P/ASX 200 index started climbing from the get go yesterday. Yup, I expected as much given the good news on or before "Mother's Day" - goldilocks US employment report, clam in the bond markets ...

Advice industry faces insurance quandary

ALEX BURKE  |  MONDAY, 4 MAY 2015
The advice industry is divided over how to fund an insurance scheme to compensate clients who receive bad advice. A rise in professional indemnity premiums is only compounding the problem. Senators Nick Xenophon and Sam Dastyari proposed a statutory ...

CBA advisers ran from ASIC

ALEX BURKE  |  WEDNESDAY, 22 APR 2015
CBA chief executive Ian Narev said that he supported the idea of individual adviser misconduct being noted on the ASIC planner register, but the issue was complicated by advisers resigning when the regulator began its investigation. Speaking at the ...

NAB to take "leading role" in advice remediation

ALEX BURKE  |  WEDNESDAY, 22 APR 2015
During the Senate Economics References Committee's Scrutiny of Financial Advice inquiry, NAB chief executive Andrew Thorburn said the bank was prepared to take a "leading role" in addressing the compensation gap for victims of poor financial advice. ...

Sacked Macquarie advisers still in the industry

LAURA MILLAN  |  TUESDAY, 21 APR 2015
Some of the 11 Macquarie Private Wealth (MPW) advisers who were made redundant because they gave improper advice are currently employed in other financial planning firms, Macquarie chief executive Nicholas Moore said. Speaking at a Senate Economics ...

Industry should help fund ASIC: ANZ

LAURA MILLAN  |  TUESDAY, 21 APR 2015
ANZ top executives supported the idea that the financial services industry should help fund the Australian Securities and Investments Commission (ASIC) so it can "fully police industry behaviour." ANZ deputy chief executive officer Graham Hodges told ...