Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 21 - 30 of 177 results for "Conflicted remuneration"

ASIC sues former Freedom Insurance staff

KARREN VERGARA  |  MONDAY, 25 OCT 2021
... Insurance managing director of Keith Cohen and quality control manager Robert Oayda for allegedly breaching conflicted remuneration and other laws. The alleged conduct relates to the marketing and selling by Freedom Insurance of insurance products issued ...

Retail fund tops MySuper tables for FY21

KANIKA SOOD  |  MONDAY, 2 AUG 2021
... th on five- and seven-year horizons. Essential Super is currently in court, with ASIC alleging CBA used conflicted remuneration in breach of Corporations Act to distribute the fund to 390,000 customers. CBA denied the allegation in a March 11 case management ...

Super, ASIC beneficiaries of advice challenges: Hearing

JAMIE WILLIAMSON  |  FRIDAY, 30 JUL 2021
... remuneration, committee deputy chair Andrew Leigh asked how life insurance commissions differ from other forms of conflicted remuneration. Jacobsen said insurance is a grudge purchase and when faced with paying upfront or through the policy, "simple ...

ASIC releases grandfathered arrangement findings

KARREN VERGARA  |  FRIDAY, 16 JUL 2021
... effect at the start of the year. ASIC found that 1227 financial products terminated their grandfathered conflicted remuneration (GCR), representing 96% of the total number of products, during its review period dated between 1 July 2019 to 31 December ...

Forex CT cops $20 million fine

ANNABELLE DICKSON  |  WEDNESDAY, 2 JUN 2021
... for engaging in a system of unconscionable conduct, including the use of high-pressure sales tactics, conflicted remuneration and failing to act in the best interests of clients. Forex CT chief executive, responsible manager and sole director Shlomo ...

ASIC takes action against Equiti

KARREN VERGARA  |  FRIDAY, 21 MAY 2021
ASIC is taking action against a financial services group for allegedly paying conflicted remuneration totalling $165,000 to its financial advisers who gave inappropriate SMSF and property advice. Equiti Financial Services (Equiti FS) - which is now ...

Chances of CBA admitting to Essential Super wrongdoing "non-existent"

JAMIE WILLIAMSON  |  FRIDAY, 12 MAR 2021
... intention of admitting to any contraventions in relation to Essential Super and an alleged $22 million in conflicted remuneration. ASIC first filed against CBA and CFS in June 2020 alleging Colonial First State Investments Limited (CFSIL) paid more than ...

Australians Googling for advice

KANIKA SOOD  |  WEDNESDAY, 3 FEB 2021
... to financial advice, such as ASIC warning real estate bodies and acting against Commonwealth Bank for conflicted remuneration. Such misconduct stories accounted for nine of the 20 articles with the most engagement from readers. "Australians showed an ...

BT reduces wholesale fees

ELIZA BAVIN  |  TUESDAY, 10 NOV 2020
... shortly take effect from 1 January 2021 which includes changes to the current exemption from the ban on conflicted remuneration and to the requirements imposed on product issuers in relation to ongoing advice fee arrangements," BT said. It said in conjunction ...

BT changes adviser fee structure

ELIZA BAVIN  |  TUESDAY, 3 NOV 2020
... will also take effect from 1 January 2021 which includes changes to the current exemption from the ban on conflicted remuneration. "In conjunction with these changes and following a review of our management fees to ensure they remain competitive for ...