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Showing 381 - 390 of 748 results for "Senate - 52"

Government tables FoFA bill in House of Reps

LAURA MILLAN  |  WEDNESDAY, 27 AUG 2014
The Coalition has reintroduced the amendments of the Future of Financial Advice (FoFA) bill into the House of Representatives, reigniting the political debate around financial planning legislation. The government's move follows the opposition's failed ...

BT unveils tougher adviser standards

LAURA MILLAN  |  TUESDAY, 26 AUG 2014
Westpac-owned BT Financial Group is the latest group to confirm new minimum education requirements for its financial advisers, responding to mounting pressure from consumers, associations and a Senate Economics Committee report. Similar to the new rules ...

CBA looks for plaintiffs to assist in remediation process

LAURA MILLAN  |  MONDAY, 25 AUG 2014
Commonwealth Bank (CBA) is in advanced discussions with a number of plaintiff law firms that will act as independent consumer advocates in the Open Advice Review program to compensate victims of poor financial advice. CBA is expecting to announce the ...

AMP lifts minimum adviser standards

LAURA MILLAN  |  THURSDAY, 21 AUG 2014
Australia's largest advice business AMP will require that all of its financial planners hold a post-graduate degree, a move that aims to increase trust in advisers. All existing and new AMP advisers must hold post-graduate qualifications such as a Certified ...

Greens slam CBA executives pay rise

LAURA MILLAN  |  TUESDAY, 19 AUG 2014
Top Commonwealth Bank (CBA) executives should have frozen their salaries or even taken a pay cut while the compensation process for thousands of victims of poor financial advice remains ongoing, Greens Senator Peter Wish-Wilson said. "It is not a good ...

Maurice Blackburn mulls class action against Macquarie

LAURA MILLAN  |  MONDAY, 18 AUG 2014
Maurice Blackburn is considering starting a class action against Macquarie in light of the growing number of disgruntled Macquarie Private Wealth customers approaching the litigator. Maurice Blackburn head of the financial disputes department John Berrill ...

CBA posts record profit, strong wealth management growth

LAURA MILLAN  |  WEDNESDAY, 13 AUG 2014
Commonwealth Bank (CBA) has reported an $8.6 billion net profit after tax for the year ended June 30, 2014, up 12% from last year. The group registered strong growth in its wealth management division, with average funds under administration (excluding) ...

CBA appoints international experts to oversee advice program

LAURA MILLAN  |  MONDAY, 11 AUG 2014
Jeff Carmichael's Promontory Financial Group has been appointed independent expert for the Commonwealth Bank's (CBA) Open Advice Review program. The appointment follows a series of announcements made ahead of the company results, which will be released ...

ASIC lowers wholesale investor threshold to $2.5 million

LAURA MILLAN  |  MONDAY, 11 AUG 2014
Self-managed super fund (SMSF) trustees with net assets of at least $2.5 million could be classified as wholesale investors by their financial advisers, the Australian Securities and Investments Commission (ASIC) has determined. The regulator has issued ...

CBA, ASIC unveil details of new compensation scheme

LAURA MILLAN  |  FRIDAY, 8 AUG 2014
Commonwealth Bank (CBA) has revealed the details of the new licensing conditions for its financial planning businesses after the original process to compensate victims of poor advice was found to be inconsistent. Commonwealth Financial Planning (CFPL) ...