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Showing 21 - 30 of 1230 results for %22Royal Commission%22

Munich Re targets AMP over alleged reinsurance misconduct

ANDREW MCKEAN  |  WEDNESDAY, 23 AUG 2023
... shareholders due to a violent drop in share price following allegations of misconduct by the Financial Services Royal Commission. Most of the $110 million settlement will come from AMP's available insurance proceeds. However, AMP said that it makes "no ...

AMP settles class action for $110m

KARREN VERGARA  |  MONDAY, 21 AUG 2023
... put to bed a class action relating to fee for no service scandals and misleading regulators as exposed by the Royal Commission but claims no responsibility in settling for $110 million. The class action filed in June 2018, affected AMP shareholders whose ...

ASIC looking to send message with eToro action

CASSANDRA BALDINI  |  WEDNESDAY, 9 AUG 2023
... that most people who invest in these products lose their money and that those losses are substantial." After the Royal Commission, the government introduced a comprehensive set of new laws aimed at safeguarding consumers and investors, particularly in ...

Trustees to disclose more remuneration details

KARREN VERGARA  |  WEDNESDAY, 2 AUG 2023
... shine a light on the impact of risk failures and bad behaviour on remuneration outcomes. "The financial services Royal Commission demonstrated conclusively how poorly designed and executed remuneration frameworks can lead to bad outcomes for the community ...

Advisers lacking PII sidestep AFCA rulings

KARREN VERGARA  |  FRIDAY, 28 JUL 2023
... complaints received by AFCA relating to advice is reflective of the maturity of the industry, in particular post-Hayne Royal Commission," Singh said. "Over the past few years, AFSLs have come to see dispute resolution as an essential part of the system ...

CFS settles super fees class action

JAMIE WILLIAMSON  |  FRIDAY, 14 JUL 2023
... products with lower fees and where commissions were not paid, but this did not happen until 2019 and 2020. The Royal Commission revealed that since 2013, CFS had paid about $400 million in commissions to financial advisers and their licensees. Slater ...

Ownership changes spur upheaval in unit trust sector

KARREN VERGARA  |  WEDNESDAY, 12 JUL 2023
... investors pulling money out of active fund managers that were subject to structural changes since the Banking Royal Commission. Some of the investment managers with the largest negative net flows were spun out of the large wealth managers owned by Australia's ...

Adviser demand up as industry turns corner: Recruiter

KARREN VERGARA  |  FRIDAY, 7 JUL 2023
... coming from the employers who want to re-adopt the associate adviser role, which was popular prior to the Hayne Royal Commission and FASEA regulations. "We see this client shift as a response to increase capacity to absorb the referrals and new client ...

Life, funeral insurers cop $14m fine

KARREN VERGARA  |  WEDNESDAY, 5 JUL 2023
The disgraced director of Select AFSL, the company the Hayne Royal Commission exposed for hawking life and funeral insurance to vulnerable customers, has been banned from managing a company for five years, while his companies were fined $13.5 million. ...

Performance test excluding retirement products is "crazy": Podcast

CASSANDRA BALDINI  |  THURSDAY, 29 JUN 2023
... products. "That will leave out a whole range of other Choice investment options, which we know from the banking Royal Commission, were poorly performing. A whole host of single asset-class investment options are excluded from the performance test," he ...