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| | | ... into Commonwealth Bank, and the Royal Commission, will help shape its updated and soon-to-be released standard on remuneration. APRA executive general manager, policy and advice, Pat Brennan told an industry conference yesterday that the consultation ... |
| | | | ... which recommended lenders stop paying brokers trailing commissions on new loans as the first step in revamping the remuneration for the profession over a two to three year timeline. "The borrower, not the lender, should pay the mortgage broker a fee ... |
| | | | ... executive has moved to reassure shareholders of his priorities going forward, including ongoing changes to executive remuneration following criticism. In a letter to NAB shareholders, Philip Chronican said the bank's board "heard loud and clear" that ... |
| | | | ... elements of good governance: transparency, board alignment with shareholder interests, long-term strategy, appropriate remuneration, business ethics and shareholder rights," she said. The fund said that while most of its 6000 equity holdings were passively ... |
| | | | ... constitutionally valid as, under the Future of Financial Advice reforms, it was determined that: "The proposal to ban particular remuneration structures can only operate prospectively, due to constitutional restrictions concerning acquisition of property." ... |
| | | | ... consumer outcomes. "To address these issues, we will further strengthen our prudential requirements on executive remuneration, with consultation on a revised prudential standard due to start mid-year. We will also review our cross industry governance ... |
| | | | ... an ASIC review of the measures to improve the quality of advice also consider exemptions to the ban on conflicted remuneration for non-monetary benefits, Anderson questioned the necessity of stopping advisers receiving education from product providers. ... |
| | | | ... is no justification for grandfathering provisions in an industry that is trying to remove conflicts of interest in remuneration. "I would bring the grandfathering arrangements made at the time of the Future of Financial Advice (FoFA) reforms to an end. ... |
| | | | ... report, Shadow Treasurer Chris Bowen said the party has already tabled a bill to end the grandfathering of conflicted remuneration. He believes it could be passed as early as March, if extra parliament sitting days are approved. From January 2020, payments ... |
| | | | ... a month until such time as a permanent replacement is appointed. Chronican will not be eligible for any variable remuneration and will not receive fees from his board position while acting in the role. NAB said it has established two committees to manage ... |
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