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Showing 431 - 440 of 900 results for "Compensation"

RECAP: Advice in the Royal Commission spotlight (Days 6- 9)

KANIKA SOOD  |  FRIDAY, 27 APR 2018
... on April 12 -- less than two weeks before the day's questioning. It limited revenue-based measures to only 15% of compensation criteria and abolished the leader board, Rixon said. "I don't know. I don't understand them all," Rixon said when asked why ...

ANZ, NAB bottom lines take a hit

KARREN VERGARA  |  TUESDAY, 24 APR 2018
... in place of 2000 newly created roles. NAB, which is also fronting the Royal Commission, did not disclose legal or compensation-related costs it anticipates to incur. In March 2016, the bank completed its de-merger of CYBG PLC, a UK-based banking business. ...

Royal Commission case study: advice put retirement in ruins

JAMIE WILLIAMSON  |  THURSDAY, 19 APR 2018
... Westpac, the process for which she described as taking "forever and a day." In response, Westpac offered $17,988 in compensation in February 2016 which was declined. "Westpac's mission statement says that if they get it wrong they will put it all right. ...

Treasurer backs ASIC investigations

DARREN SNYDER  |  THURSDAY, 19 APR 2018
... thousands of documents as it has undertaken a number of examinations of AMP staff," he said. "ASIC is also pursuing full compensation of impacted AMP clients. ASIC takes these allegations of false or misleading statements very seriously as does the Government ...

AMP deliberately misled ASIC over ongoing fees

ALEX BURKE  |  TUESDAY, 17 APR 2018
... Clayton Utz report, AMP formulated a view to describe the 90-day rule as an "administrative issue" to ASIC, rather than compensation based on no advice. The report also said that AMP sought to negotiate a commercial outcome with ASIC with respect to ...

Social media singles out ASIC in Royal Commission coverage

ALEX BURKE  |  MONDAY, 16 APR 2018
... advisers charge up to $2000 in fees for no service, but they've also shown that the #big4 (+ AMP) paid 305 946 people #compensation for advice leading to no service or financial loss #ChangeTheRules - Carol Brown (@SenCarolBrown) April 16, 2018 Senator ...

NAB details serious compliance concerns in RC advice submission

JAMIE WILLIAMSON  |  MONDAY, 16 APR 2018
... no adviser was allocated to the client. As at 31 January 2018, NAB has agreed to pay approximately $6.6 million in compensation to more than 25,000 clients impacted by misconduct in regards to adviser service fees and $35 million in compensation to more ...

Commonwealth Bank refunding millions in fees for no service

JAMIE WILLIAMSON  |  MONDAY, 16 APR 2018
... orders and/or enforceable undertakings. As at the end of 2017, CBA has paid or offered to pay about $96 million in compensation to customers in relation to poor financial advice or adviser misconduct. Orr said that in its final submission, CBA outlined ...

AMP admits to serious misconduct in RC submissions

JAMIE WILLIAMSON  |  MONDAY, 16 APR 2018
... they had paid. The events took place between 1 July 2008 and 30 June 2015, and resulted in $193,519 being paid in compensation. The institution acknowledged a further six events which involved an AMP licensee continuing to charge customers ongoing service ...

CBA advice failures unacceptable: Comyn

DARREN SNYDER  |  FRIDAY, 13 APR 2018
... Planning and BW Financial Advice will pay a community benefit of $3 million as part of the EU. The advice firms' total compensation bill now sits at $88 million plus interest, which is being paid to 31,500 customers affected between July 2007 and June ...