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Showing 21 - 30 of 287 results for %22Banking Royal Commission%22

Six cases brought against Westpac now finalised

JAMIE WILLIAMSON  |  FRIDAY, 22 APR 2022
The six Federal Court cases brought against Westpac by ASIC late last year have been finalised, with the banking giant to pay a total of $113 million in penalties. A decision in the final of the six matters, all overseen by Justice Beach, was handed ...

UBS Australia could be banned from Papua New Guinea

ELIZABETH MCARTHUR  |  WEDNESDAY, 20 APR 2022
Investment banking giant UBS could be banned from Papua New Guinea and forced to repay tens of millions as a Royal Commission uncovers questionable conduct. A Royal Commission will shortly deliver its verdict in PNG after examining a 2014 decision by ...

Backlash after 'unprecedented' ASIC action against Westpac

ELIZABETH MCARTHUR  |  THURSDAY, 2 DEC 2021
... Johnston and the AIOFP are of the view that such misconduct in financial services will not change unless ASIC regulates banking in a similar fashion to the financial advice sector and implements bans for individuals. "This charade will not be eliminated ...

AMP advances demerger

KARREN VERGARA  |  TUESDAY, 30 NOV 2021
... commit to a further $115 million of cost-cutting initiatives from FY22 through to FY24. She will reposition AMP's banking and wealth platforms and accelerate the transformation of the financial advice business. PrivateMarketsCo's simplification ...

FASEA to reword Standard 3

KARREN VERGARA  |  WEDNESDAY, 3 NOV 2021
... provision of their services," he said. "Standard 3 also seems to go beyond the recommendations of the Banking Royal Commission. In his final report, Commissioner Hayne posed the question: "Is there more that could be done to manage those conflicts be ...

Industry calls for expanded CSLR

ANNABELLE DICKSON  |  WEDNESDAY, 6 OCT 2021
... policies by the Aboriginal Community Benefit Fund, now trading as Youpla." "One of the reasons we had a banking royal commission was because thousands of victims of financial misconduct had been left without compensation. The establishment of a compensation ...

Global firm expands into Aussie wealth management

ELIZABETH MCARTHUR  |  FRIDAY, 17 SEP 2021
... significant opportunities for the firm to expand in Australia. "Fuelled by the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, the Australian wealth and asset management sectors are probably experiencing ...

Benefits of advice reforms yet to materialise

KARREN VERGARA  |  TUESDAY, 24 AUG 2021
... This averages to 300 advisers leaving the industry each month. Since the 2017-19 Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, an overhaul of the advice sector has become a major priority. "We are yet ...

AMP flags recovery, profit jumps

KARREN VERGARA  |  THURSDAY, 12 AUG 2021
... by October. George is confident that the group will redeem itself and undo the damage inflicted by the banking Royal Commission and a series of controversies that emanated internally. Reparation of the brand damage is her top priority, as is finalising ...

RI Advice failed oversight obligations: Court

KARREN VERGARA  |  MONDAY, 2 AUG 2021
... interests first. Doyle was an authorised representative of RI Advice between May 2013 and June 2016, when it was owned by ANZ Banking Group. RI Advice is now owned by IOOF Holdings. The case was under the spotlight at the Hayne Royal Commission. ASIC ...