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Showing 431 - 440 of 721 results for "Misconduct"

ASIC appoints second deputy chair

KARREN VERGARA  |  FRIDAY, 7 DEC 2018
... said the Government has undertaken significant reforms to ensure ASIC has the powers and resources it needs to combat misconduct in the financial services industry and across all corporations for the protection of Australian consumers. ASIC has received ...

Freedom ditches life insurance sales

KARREN VERGARA  |  THURSDAY, 6 DEC 2018
... that the company is still solvent. Freedom said it informed ASIC that it has commenced an investigation into its past misconduct highlighted by the financial services Royal Commission. The size and scope of the remediation will be reviewed by an independent ...

AMP replaces Regan

JAMIE WILLIAMSON  |  WEDNESDAY, 5 DEC 2018
... of the Royal Commission's second round looking into the financial advice sector. In testifying, Regan admitted misconduct within AMP's advice business, including deliberately misleading ASIC, the conscious ongoing charging of fees for no service ...

Social media reacts to final Royal Commission hearings

HARRISON WORLEY  |  FRIDAY, 30 NOV 2018
... (@tsambourakis) November 30, 2018 Consumer advocate George Tsambourakis says the Royal Commission leaves victims of misconduct without closure. Indeed. Take a bow Commissioner Hayne (perhaps for the last time in this setting?). That's been one heck ...

Vertical integration not to blame

HARRISON WORLEY  |  MONDAY, 26 NOV 2018
... of vertically integrated business models in the wealth management arms of banks was not the reason for the industry misconduct exposed in the Royal Commission. In their responses to Commissioner Kenneth Hayne's interim report, Australia's big four banks ...

Wealth an unnecessary failure: Thorburn

HARRISON WORLEY  |  MONDAY, 26 NOV 2018
... into wealth management by Australia's big banks was most likely a failure. Opening the final week of hearings into misconduct in financial services today in Melbourne, counsel assisting Michael Hodge asked Thorburn whether Australia's retail banks had ...

Royal Commission: ASIC rethinks negotiation tactics

KARREN VERGARA  |  FRIDAY, 23 NOV 2018
... Commission heard. Shipton told counsel assisting Rowena Orr that ASIC has "over-utilised" negotiating outcomes for financial misconduct and in hindsight should have run remediation programs in parallel with tougher enforcement investigations. Since July ...

Misconduct matters, but stability key for Frydenberg

HARRISON WORLEY  |  FRIDAY, 23 NOV 2018
Treasurer Josh Frydenberg said eliminating misconduct was important, but the Government has other considerations to bear when implementing the Royal Commission's final recommendations. Speaking at the Australian Finance Industry Association conference ...

Comyn promises personal accountability

KARREN VERGARA  |  TUESDAY, 20 NOV 2018
... time reflecting and understanding "what went wrong." Comyn said a number of actions are in place to remediate past misconduct and added he doesn't underestimate the magnitude of turning the bank's culture around. "As hard as we will try, I'm ...

Apologies are over: Royal Commission looks to future

HARRISON WORLEY  |  MONDAY, 19 NOV 2018
... Commission will ask chief executives at Australia's largest wealth management companies how to prevent this same misconduct ever happening again. Making her opening statement this morning, counsel assisting Rowena Orr said the Royal Commission's ...