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Showing 351 - 360 of 911 results for "Compensation"

Advice practices urged to contact ombudsman

ELIZABETH MCARTHUR  |  WEDNESDAY, 6 NOV 2019
... that may include the conduct of lookback audits, financial planning licensors shifting responsibility for client compensation payments to licensees, short notice periods provided to licensees exiting the business and restraint of trade provisions," Carnell ...

AFCA delivers $185m in compensation

ELIZABETH MCARTHUR  |  FRIDAY, 1 NOV 2019
The Australian Financial Complaints Authority has delivered $185 million in compensation to consumers in its first year of operation. AFCA received a 40% uptick in complaints compared to previous complaints schemes. About 77% of complaints lodged have ...

Adviser tampered with MySuper

ELIZABETH MCARTHUR  |  FRIDAY, 1 NOV 2019
... scheme and Tran's conduct effectively required clients to opt-out, ASIC said. His actions resulted in a $366,000 compensation bill for Aon Hewitt Financial Advice. "Of the minority of clients who responded to Aon Hewitt, most indicated they now wished ...

AMP contests senior lawyer's claims

KANIKA SOOD  |  TUESDAY, 29 OCT 2019
... fee-for-no-services escalation and could be "verbose and dominant" in conversations, AMP says in its defence to her claim seeking compensation for unfair dismissal. The senior lawyer dragged her former employer to Federal Court last Tuesday, seeking ...

Westpac takes $1 billion profit hit

ELIZA BAVIN  |  THURSDAY, 24 OCT 2019
Westpac's customer compensation bill has added $341 million in the second half of 2019, bringing the remediation total to $958 million for the year. Westpac chief executive Brian Hartzer said: ""A key priority in 2019 has been to deal with outstanding ...

ASIC using intimidation tactics on grandfathering: AIOFP

ELIZABETH MCARTHUR  |  WEDNESDAY, 16 OCT 2019
... can shut down grandfathered revenue under the constitution unless it's under just terms -in other words, with compensation." Johnston accused ASIC of using intimidation tactics to get grandfathered commissions turned off early by product providers. ...

ANZ remediation costs break $1 billion

ELIZA BAVIN  |  TUESDAY, 8 OCT 2019
... and commercial products. Another $154 million is associated with the banks advice remediation program and customer compensation charges for wealth products. The bank said that the charges relate to historical and ongoing reviews into its business. ANZ ...

IOOF expects to reappeal timber case

KANIKA SOOD  |  MONDAY, 30 SEP 2019
... considering "all available legal options" for former business Australian Executor Trustees, which exposed it to millions in compensation costs after last Thursday's court judgement in the S.E.A.S Sapfor Forests Pty Ltd case. The company notified investors ...

Former IOOF company loses court battle in timber scheme

KANIKA SOOD  |  FRIDAY, 27 SEP 2019
... copped losses. One of the convenantholders, David Kerr backed by litigation funder IMF Bentham demanded that AET pay compensation of over $82 million on behalf of the investors. "Whilst final orders [from Supreme Court of NSW] are awaited, the Trustee ...

Crunch time for boutique funds

KANIKA SOOD  |  MONDAY, 23 SEP 2019
... the number is close to $300 million. Despite the challenges facing aspiring boutique managers, the drive for better compensation and greater autonomy remains. Larger firms often incentivise their managers in the form of investments in the fund or in ...