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Showing 381 - 390 of 482 results for "Remediation"

AMP kept unsuspecting clients in the dark: RC

KARREN VERGARA  |  TUESDAY, 24 APR 2018
... alone initiated investigations or reached out to them. Britt replied all of Mr E's clients have been moved to the remediation program and lumped into a pool of other potentially affected clients that suffered financial detriment from risky advisers. ...

ASIC lifts licence conditions on CountPlus subsidiary

KANIKA SOOD  |  MONDAY, 16 APR 2018
ASIC has lifted the licence conditions it imposed on a CountPlus subsidiary after it paid $2.5 million in remediation to its clients following a compliance issue in 2015. In September, 2015 ASIC placed additional licence conditions on Total Financial ...

AMP admits to serious misconduct in RC submissions

JAMIE WILLIAMSON  |  MONDAY, 16 APR 2018
... advisers for further possible misconduct. Of these advisers, AMP identified only one as currently being involved in its remediation program. Three of the advisers were described by Orr as "giving rise to serious compliance concerns" and will also serve ...

CBA advice failures unacceptable: Comyn

DARREN SNYDER  |  FRIDAY, 13 APR 2018
... decade. These failures have resulted in a range of regulatory actions including imposition of licence conditions and remediation programs. " "This is unacceptable and we owe our customers an apology for letting them down. Providing quality financial ...

Prime Access bungle costs ANZ $50 million

KANIKA SOOD  |  FRIDAY, 6 APR 2018
... promised. We have since introduced measures to prevent this from happening again and have largely completed making remediation payments to impacted clients," ANZ wealth Australia group executive Alexis George said. ANZ bosses will also have to provide ...

ASIC to target non-compliant advisers and AFSLs

JAMIE WILLIAMSON  |  THURSDAY, 1 MAR 2018
... investigations, 61 of which were completed. These actions resulted in a total of $94.4 million paid in compensation and remediation to investors and consumers; $21.7 million in civil penalties; $1.7 million in infringement notices; and $40.5 million ...

Australian Ethical underlying profit dips despite membership surge

ALEX BURKE  |  FRIDAY, 23 FEB 2018
... the prior corresponding period, Australian Ethical also incurred significant expenses with regards to unit pricing remediation. At the time, the company said that in order to prevent similar pricing errors in the future, shareholders should expect an ...

Vertically aligned institutions pay $21.4m compensation

KARREN VERGARA  |  WEDNESDAY, 21 FEB 2018
... ($13m). ASIC said these payments do not include a separate fees-for-no-service review (REP 499) or CBA's large-scale remediation program. Last month, CBA told the regulator it will pay a further $1.9 million to customers affected by five of its former ...

CBA puts away $500m for regulatory costs

DARREN SNYDER  |  WEDNESDAY, 7 FEB 2018
... was a standout performer. However the bank has also put aside more than $500 million for ongoing legal and customer remediation costs. CBA's wealth management division reported a net profit after tax of $281 million, up 33% on the corresponding period ...

ClearView issues refunds over life sales misconduct

JAMIE WILLIAMSON  |  TUESDAY, 6 FEB 2018
... to customers with high ongoing lapse rates; and offer a sales call review to other eligible consumers and provide remediation if poor conduct is identified. In total, 16,000 consumers are expected to receive remediation payments from the life insurer. ...

Editor's Choice

L1 Group sells Platinum's responsible entity to Equity Trustees

RIDDHIMA TALWANI
L1 Group has offloaded Platinum Investment Management Limited (PIML) to Equity Trustees (EQT), handing over the responsible entity (RE) role for the Platinum funds while keeping investment management in-house.

LGT poaches Koda Capital's top-rated adviser

RIDDHIMA TALWANI
LGT Wealth Management has poached Koda Capital's 2025 top-rated adviser and partner Frank Macindoe.

CareSuper rejigs beneficiary nominations, investment options

KARREN VERGARA
CareSuper has introduced several changes to its investment options and beneficiary nominations.

Fortnum pays $1.35m to settle ASIC lawsuit

MATTHEW WAI
Fortnum Private Wealth will pay a penalty of $1.35 million and ASIC's costs to resolve legal proceedings against the firm over a cyber governance matter which occurred between April 2021 and May 2023.

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