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Showing 361 - 370 of 475 results for "remediation"

Trust in financial services down since Royal Commission: Poll

HARRISON WORLEY  |  TUESDAY, 14 AUG 2018
... misleading the corporate regulator. Last week the mutual recorded a 74% drop in profits, after copping a $290 million remediation bill following its appearance at the Royal Commission. Currently the Commission is hearing evidence into the superannuation ...

NAB initially under-reported remediation bill to ASIC

KANIKA SOOD  |  MONDAY, 13 AUG 2018
... regulator was capping off a report on the matter in late 2016. By 24 October 2016, NAB's estimated plan service fee remediation had reached $34 million. This included $12.4 million owed to 108,000 customers of MLC's employee retirement plan (TERP) and ...

NAB complicated plan service fee issue: Royal Commission

HARRISON WORLEY  |  MONDAY, 13 AUG 2018
... would not want to remediate them fully. Hagger replied the trustee has a duty to work through what the appropriate remediation methodology is. "Otherwise, if you took what you just said to its extreme conclusion, the trustee would never take any money ...

AMP profits nosedive, new board director announced

KANIKA SOOD  |  WEDNESDAY, 8 AUG 2018
AMP profit stumbled 74% in the first half of the year as the wealth manager took a $290 million hit from advice remediation following the financial services Royal Commission. It brought in a net profit of $115 million as compared to $445 million in ...

AMP wealth arm leaked $873 million in first half

KANIKA SOOD  |  WEDNESDAY, 8 AUG 2018
... professional indemnity insurance of its advisers, either personal or through AMP, but that wouldn't come until after remediation. Company culture During analyst questions, the executives fielded several questions about company culture, including one ...

Fees for no service remediation passes $250 million

DARREN SNYDER  |  WEDNESDAY, 8 AUG 2018
Financial institutions outside the big four banks and AMP have been integrated into ASIC's fees for no service remediation programs, with total provisions likely to exceed $850 million. Updating the financial services industry and consumers on its oversight ...

Royal Commission revisits fees for no service

KARREN VERGARA  |  MONDAY, 6 AUG 2018
... to advice service that was not delivered. ASIC was notified in May 2017 and since then StatePlus has formulated a remediation plan for the 46,534 members affected. Hodge added ASIC's investigation is expected to conclude by the end of August and ...

AMP moves to reset business

JAMIE WILLIAMSON  |  FRIDAY, 27 JUL 2018
... customers and enhance the competitiveness of its product range. The institution also said it is accelerating advice remediation, with $290 million set aside in its pending 1H18 results for potential compensation payments - much of this is to remediate ...

NAB names wealth advocate

KARREN VERGARA  |  TUESDAY, 26 JUN 2018
... professor at the University of NSW. NAB created the customer advocate role in May 2015 as part of its financial advice remediation initiatives and to improve transparency and accountability. In her new role, Petre is to improve the customer complaints ...

IOOF boosts adviser compliance support

KARREN VERGARA  |  TUESDAY, 19 JUN 2018
... records, manages and potentially mitigates risks. For example, advisers could be assigned additional e-learning or remediation immediately in the event of an audit result or an entry into a compliance register, he said. It's these processes together ...