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Showing 341 - 350 of 721 results for "Misconduct"

Regulators praise super law reform

ELIZA BAVIN  |  FRIDAY, 14 FEB 2020
... superannuation sector. "As the conduct regulator of the financial sector, ASIC has a critical role to play in tackling misconduct in superannuation, while APRA will continue to strengthen its focus on member-outcomes and prudential soundness," Rowell ...

QSuper member drags board to court, loses

KANIKA SOOD  |  WEDNESDAY, 12 FEB 2020
... trustee noted that Chapman's leaving the police force came after he sought a review of a decision from the Crime and Misconduct Commission which charged him with allegedly assaulting and injuring a youth. "QCAT made a declaration that if he had not ...

Compensation bill hits $750m

ELIZA BAVIN  |  WEDNESDAY, 12 FEB 2020
... who are reimbursing customers who suffered loss or detriment because of non-compliant advice or fees for no service misconduct. CBA has offered the most in compensation out of the six, coming in at $164.8 million, though the amount paid as at 31 December ...

AMP to pay $5m for churn

JAMIE WILLIAMSON  |  WEDNESDAY, 5 FEB 2020
... penalty applied by the court today will act as a deterrent to AMP and other financial institutions to engage in such misconduct. AMP and other financial institutions must act in their clients' best interests." The court agreed with ASIC that, at ...

FPA calls for axe to fall on stamping fees

HARRISON WORLEY  |  WEDNESDAY, 29 JAN 2020
... ensures it is "better placed than most" to comment on the debate. Pointing to the Royal Commission's final report into misconduct in the financial services industry, Bristow recalled Commissioner Hayne's opinion that adding more regulation was not the ...

Former Wells Fargo chief banned for life

ALLY SELBY  |  FRIDAY, 24 JAN 2020
... (OCC) has also charged five former Wells Fargo executives over their role in the bank's "systematic sales practice misconduct", which saw employees open millions of fake bank and credit card accounts to meet sales targets. The OCC has settled with the ...

ASIC drags NAB to court for fees-for-no-service

HARRISON WORLEY  |  TUESDAY, 17 DEC 2019
... stopped charging fees to its customers on February 4 this year. ASIC deputy chair Daniel Crennan said fee-for-no-service misconduct had been widespread in financial services and was viewed as a "systematic failure" by the regulator. "When the fees-for-no-service ...

Cost savings, RC boost digital advice

JAMIE WILLIAMSON  |  MONDAY, 16 DEC 2019
... its highest points in April 2018 at 3256. At the same time the likes of AMP and the big four testify in relation to misconduct in their financial advice arms. "Upon publication of the Hayne Royal Commission report, Decimal recorded a significant increase ...

APRA slaps extra conditions on Avanteos

HARRISON WORLEY  |  WEDNESDAY, 11 DEC 2019
... for investigation, after counsel assisting Michael Hodge told the Royal Commission Avanteos' may have engaged in misconduct that breached the Corporations and SIS Acts. APRA said it had identified "several other" RSE licensees that may have charged ...

Risk roles on the rise: SEEK

ALLY SELBY  |  WEDNESDAY, 11 DEC 2019
... rise in demand for risk and compliance roles in the financial services sector, stimulated by the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry," it said. "SEEK expects risk and compliance will continue ...