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Showing 341 - 350 of 475 results for "remediation"

NAB still unclear on true impact of misconduct

KANIKA SOOD  |  FRIDAY, 19 OCT 2018
... wouldn't be that high. Thorburn also failed to give a definitive deadline for when the bank expected to complete its remediation process but said it expects to have compensated $130 million by the end of the year. "Well, I am unable to answer that ...

Financial services employment to boom

JAMIE WILLIAMSON  |  WEDNESDAY, 17 OCT 2018
... significant increase in the number of risk and compliance roles on offer in the financial services sector. "Large-scale remediation projects are underway within many banks and financial services organisations and these will continue during 2018. Consequently ...

ANZ chief says remediation is "distracting"

KARREN VERGARA  |  FRIDAY, 12 OCT 2018
ANZ chief executive Shayne Elliott has admitted to a parliamentary inquiry that the bank saw its remediation programs as a "distraction" and at one point took up to 15 years to compensate some customers. This morning, Elliott told the House of Representatives ...

CBA releases remediation scorecard

KANIKA SOOD  |  THURSDAY, 11 OCT 2018
An independent review of CBA's remediation action plan says the bank has satisfactorily hit just one of its 153 milestones as at August end, but is showing evidence of commitment. CBA was required to put together a remediation action plan after APRA ...

CBA to refund dead customers, grandfathered commissions

JAMIE WILLIAMSON  |  TUESDAY, 9 OCT 2018
... it has now spent about $580 million improving its advice business in the last six years, including $270 million in remediation for poor advice and wrongfully charged fees.

ANZ compensation bill hits earnings

KARREN VERGARA  |  MONDAY, 8 OCT 2018
ANZ will take a massive $374 million hit to its profit thanks to its customer remediation programs. The bank will recognise the losses in 2H18 for refunds owed to customers. It also factored in legal costs associated with the Royal Commission of $55 ...

StatePlus general manager departs

JAMIE WILLIAMSON  |  TUESDAY, 2 OCT 2018
... 10 years, and we wish her all the best for her future endeavours." Separately, StatePlus is currently undertaking a remediation process for clients invested in its Allocated Pension Fund, Investment Funds - Class A, Fixed Term Pension Plan, Personal ...

Regulatory inadequacy to blame: Hayne

JAMIE WILLIAMSON  |  FRIDAY, 28 SEP 2018
... culture in the financial advice industry today. Hayne said that because regulatory responses wrongfully focused on the remediation of specific instances of poor financial advice instead of seeking to identify the root causes within the organisations ...

Dishonest advice fees dent Westpac earnings

JAMIE WILLIAMSON  |  FRIDAY, 28 SEP 2018
Westpac's cash earnings for 2018 will take a $235 million hit due to ongoing remediation to financial advice customers. The institution is estimating its full-year cash earnings will be reduced significantly as a result of provisions set aside for compensation ...

ASIC slams unacceptable reporting breaches

KARREN VERGARA  |  WEDNESDAY, 26 SEP 2018
... incidents so consumers can have wrongs put right as soon as possible. "Tardy breach reporting and dragging out the remediation process erodes confidence in the system," she said.