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

Search Results

Showing 391 - 400 of 935 results for "Compensation"

ANZ scraps individual bonuses

HARRISON WORLEY  |  TUESDAY, 6 AUG 2019
... remunerated "in accordance with regulatory requirements." ANZ said the changes would not impact the bank's total spend on compensation but rather its mix between fixed and variable remuneration, in an effort to reduce the "negative impact" an over emphasis ...

ASIC reveals advice remediation progress

HARRISON WORLEY  |  THURSDAY, 1 AUG 2019
... equivalent of 573 full-time staff working on its program of remediation, with the bank not expecting to clear its compensation bill until December 2022. As part of the review, ASIC noted a single adviser from NAB was responsible for more than $14 million ...

Lloyds, pension fund pay $250m settlement

JAMIE WILLIAMSON  |  FRIDAY, 26 JUL 2019
Lloyds Banking Group will pay $250 million in compensation to Standard Life Aberdeen following its attempt to pull a $186 billion mandate in February 2018. Lloyds Banking Group and its subsidiary, Scottish Widows, reached a final settlement with Standard ...

APRA proposes new remuneration standard

KARREN VERGARA  |  TUESDAY, 23 JUL 2019
... the principles, standards and guidance set out in the Financial Stability Board's publications concerning sound compensation principles and practices. Recommendation 5.3 suggests APRA-regulated entities design remuneration systems to encourage sound ...

Portfolio manager caught out faking returns

KANIKA SOOD  |  FRIDAY, 19 JUL 2019
... was overstated and they paid excess management fees for the propped up returns. He took home US $600,000 in excess compensation from the fund's overstated performances and tried to cover up his conduct, the SEC said. "Rege used different discount curves ...

Former financial adviser jailed

ELIZABETH MCARTHUR  |  THURSDAY, 11 JUL 2019
... "Since reporting the behaviour to ASIC, Madison has assisted with remediation efforts, including facilitation of compensation payments from the insurer. Only a small portion of compensation is still to be resolved."

MLC faces class action over adviser fees

ELIZABETH MCARTHUR  |  WEDNESDAY, 10 JUL 2019
... in fees can have a substantial impact on retirement outcomes. IMF's funding will facilitate an action claiming compensation on behalf of over 100,000 MLC Super Fund members." NAB responded to a request for comment, saying: "We will consider carefully ...

State Street cops $125m penalty

JAMIE WILLIAMSON  |  WEDNESDAY, 3 JUL 2019
... State Street sent clients a bill for expense reimbursement, without disclosing that State Street had added extra compensation for itself - compensation that clients had not agreed to pay," SEC Boston Regional Office director Paul G. Levenson said. "Fund ...

Whistleblowers given new protection

ELIZABETH MCARTHUR  |  WEDNESDAY, 3 JUL 2019
... maintained and preventing them from suffering or being threatened with detriment. Whistleblowers will now be able to seek compensation if they suffer loss, damage or injury for making a disclosure. ASIC said these protections are designed to encourage ...

Will financial advisers cease to exist?

JAMIE WILLIAMSON  |  TUESDAY, 18 JUN 2019
... artificial intelligence. Another key driver cited is the changes to remuneration structures with 23% saying they expect compensation to decline somewhat while 14% expect to see a significant decline (more than 3% annually). The research estimates there ...