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Showing 21 - 30 of 32 results for "Compensation Program"

ANZ sets up $30m compensation program for advice clients

LAURA MILLAN  |  THURSDAY, 16 APR 2015
ANZ will reimburse $30 million to clients of its financial planning business who did not get the annual reviews promised as part of the bank's advice and investment service. About 8,500 Prime Access clients will be reimbursed, ANZ confirmed in a statement. ...

Nationals pressure Treasury for RC into white collar crime

LAURA MILLAN  |  MONDAY, 23 FEB 2015
Nationals' Senator John Williams has given Treasury the suggested terms of reference for a Royal Commission into white collar crime. Williams confirmed to Financial Standard that he gave the documents to Treasurer Joe Hockey's chief of staff two weeks ...

CBA chairman defends compensation program at AGM

LAURA MILLAN  |  THURSDAY, 13 NOV 2014
Commonwealth Bank (CBA) chairman David Turner defended the bank's performance and its reaction to the financial planning scandals in front of shareholders at the annual general meeting in Melbourne yesterday. "We know that saying sorry is not enough ...

First Super to vote against CBA board members

LAURA MILLAN  |  MONDAY, 10 NOV 2014
... to the financial planning scandals at CBA that prompted a Senate inquiry and forced the bank to set up a compensation program. "Aside from the very real damage to customers, the failure by the board has led to loss of confidence in the organisation ...

CBA appoints litigators as customer advocates

LAURA MILLAN  |  MONDAY, 3 NOV 2014
... Commonwealth Bank (CBA) has appointed three law firms as independent customer advocates for its Open Advice Review compensation program. Maurice Blackburn, Shine Lawyers and Slater and Gordon have been appointed to support individual customers through ...

Greens slam CBA executives pay rise

LAURA MILLAN  |  TUESDAY, 19 AUG 2014
... passed the front page test." He added that from a shareholder's point of view, it is still not clear how the compensation program will affect investors. "CBA has not yet made public what the provision is for the compensation scheme," he said. The Open ...

CBA dismisses Murray's concerns over vertical integration

LAURA MILLAN  |  THURSDAY, 14 AUG 2014
... their best interest." He referred to recent cases of poor financial advice, which have forced CBA to set up a compensation program that goes back to advice provided in 2003. "If we violate that [best interest], we need to make it right," he said. CBA ...

CBA appoints international experts to oversee advice program

LAURA MILLAN  |  MONDAY, 11 AUG 2014
... results, which will be released this Wednesday. Promontory Financial Group will review the processes of CBA's compensation program to victims of poor financial advice between 2003 and 2012. The group will also report periodically on the outcomes of the ...

CBA, ASIC unveil details of new compensation scheme

LAURA MILLAN  |  FRIDAY, 8 AUG 2014
... whether the steps taken by the licensees to identify both the advisers and the clients that were covered by the compensation program were reasonable," ASIC said. A CBA written statement confirmed that the advisers subject to the review are "no longer ...

ASIC slaps seven-year ban on planner

ELISE BURGESS  |  FRIDAY, 11 MAR 2011
... statements or forecasts that were misleading, false or deceptive. CFP has already established a major client compensation program, calculating the alternative investment positions clients would currently hold if they had received appropriate advice and ...