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Showing 421 - 430 of 482 results for "Remediation"

Narev points to GFC for bank dissatisfaction

JAMIE WILLIAMSON  |  WEDNESDAY, 19 OCT 2016
... this month's parliamentary committee, Narev told delegates that as part of this strategy they will hear more about remediation and "some of the amounts you might hear will be significant amounts", but they should be seen as a sign of regulators and the ...

ASIC accepts EU from Perth advice firm

ALEX BURKE  |  TUESDAY, 13 SEP 2016
... were "inadequate," and that risks were not properly identified. The regulator also criticised the firm's audit and remediation programs, which it described as "not timely [or] effective in identifying remediating advice conduct and deficiencies", and ...

ANZ to refund millions in unlawfully charged fees

JAMIE WILLIAMSON  |  TUESDAY, 6 SEP 2016
... manage the cost of their banking." ANZ has initiated contact with those customers who will be reimbursed, expecting the remediation process to be complete by the end of the month. The bank has also amended its terms and conditions to clarify instances ...

ASIC accepts EU from My Adviser

KERRIE SYDEE  |  WEDNESDAY, 24 AUG 2016
... recognised the assistance and cooperation of My Adviser with the investigation and that My Adviser had commenced paying remediation to clients of Arion. More than $2 million has been paid to date. ASIC commissioner Greg Tanzer said: "All licensees must ...

CBA EGM becomes customer advocate chief

DARREN SNYDER  |  MONDAY, 15 AUG 2016
Commonwealth Bank executive general manager customer advocacy and remediation, Dr Brendan French, will head the bank's customer advocate arm. CBA said the role and customer advocacy function will strengthen the firm's accountability for fair customer ...

ASIC drops Macquarie AFSL conditions

KERRIE SYDEE  |  FRIDAY, 1 JUL 2016
... behaviours. "It is one that responds to breaches or other compliance issues promptly and appropriately, including relevant remediation action as required. We consider that the manner in which Macquarie is currently applying Macquarie's framework, supports ...

ASIC orders HSBC remediation plan for "deficient" advice

ALEX BURKE  |  TUESDAY, 17 MAY 2016
... information about clients' relevant personal circumstances," according to ASIC. As a result of the EU, HSBC will implement a remediation plan for affected clients; develop an assessment plan to determine whether this kind of advice affected clients invested ...

Banks launch major consumer protection program today

ALEX BURKE  |  THURSDAY, 21 APR 2016
... compensation scheme covering financial advisers." Banks will also work with ASIC to expand the regulator's review of customer remediation programs for financial advice and implement an "industry register" to easily identify "rogue advisers" so as to ...

ASIC releases 2016 enforcement report

KERRIE SYDEE  |  THURSDAY, 31 MAR 2016
... for the future. The report highlighted that over the six month period ASIC secured $149 million in compensation and remediation for consumers and investors, removed 27 individuals from financial services, laid 42 criminal charges, charged six persons ...

ANZ appoints PwC for OnePath compliance review

ALEX BURKE  |  TUESDAY, 15 MAR 2016
... and funds management activities within OnePath, which resulted in roughly $4.5 million in compensation and "other remediation" of around $49 million. Breaches included having member contributions allocated to incorrect super accounts for up to a year ...