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Showing 431 - 440 of 475 results for "Remediation"

CBA refunds $7.6 million to 8400 customers

DARREN SNYDER  |  MONDAY, 19 OCT 2015
... 2014. CBA advised ASIC of its intention to undertake an investigation, engage an independent expert to review its remediation process to ensure an accurate calculation of refunds, and refund all affected customers. ASIC deputy chairman Peter Kell said ...

ASIC hits advice firm with more licence conditions

ALEX BURKE  |  FRIDAY, 2 OCT 2015
... expert for 18 months. The expert will report both to ASIC and TFSA, and will assist with the implementation of a client remediation program. "Adequate supervisory arrangements must be in place to ensure advisers are providing advice that is in the best ...

Difficult year for insurance income: CBA

DARREN SNYDER  |  THURSDAY, 13 AUG 2015
... wealth management results one underpinning theme for us and the industry overall is risk costs, compliance costs, and remediation costs for the time being - greater costs in those areas is really affecting the life of our business," Narev said.

CBA profit tops $9 billion

DARREN SNYDER  |  WEDNESDAY, 12 AUG 2015
... administration. The bank's expenses increased 5% on the prior year with regulatory compliance and financial planning remediation costs the major drivers. CBA invested $1.2 billion on risk and compliance projects, technology and productivity. During the ...

Regulation is not the only answer: Herbert Smith Freehills

LAURA MILLAN  |  WEDNESDAY, 12 AUG 2015
... raising some key questions around governance: "Is financial penalty the right one to apply? Are we after deterrence, remediation or punishment? Or all three?" Referring to the recent regulatory changes in the financial planning industry, he said: "Regulators ...

Macquarie adviser forged signatures, lied to clients

LAURA MILLAN  |  FRIDAY, 7 AUG 2015
... process to compensate clients of Hickman for any losses suffered as a result of his conduct as part of a broader client remediation process which has been undertaken by MEL as agreed under an enforceable undertaking accepted by ASIC in January 2013.

ASIC financial services enforcements down 10%

ALEX BURKE  |  THURSDAY, 6 AUG 2015
... Macquarie and CBA, ASIC noted in its half-yearly enforcement report that it intends to develop a regulatory guide on remediation programs by Australian financial services licensees. "We want to ensure that if an AFS licensee needs to provide remediation ...

Macquarie pays $11m advice compensation so far

LAURA MILLAN  |  THURSDAY, 23 JUL 2015
Macquarie Group's comprehensive advice remediation program has paid $11 million to disgruntled advice clients a year after it was put in place. Documents made public by the group prior to the annual general meeting today reveal that, to 30 June 2015 ...

ASIC bans Macquarie representative

DARREN SNYDER  |  TUESDAY, 26 MAY 2015
... compensate clients of O'Malley for any losses suffered as a result of his conduct and as part of a broader client remediation process which has been undertaken by the company and as agreed under an enforceable undertaking accepted by ASIC in January ...

Bank results underpin wealth management new era

LAURA MILLAN  |  FRIDAY, 8 MAY 2015
... detriment." The industry will need to be proactive in this approach to avoid "the reputation and financial impacts of remediation and regulator intervention." While the big four have made some improvements to their wealth management arms, "the impact ...

Editor's Choice

Global X awards mandate for ETF business

ELIZA BAVIN
Global X has awarded a new custody and administration mandate for its Australian ETF business.

Bell Asset Management launches small-caps fund

KARREN VERGARA
Bell Asset Management has formally launched its Australian Small Companies Fund, which is run by former Tyndall Asset Management portfolio managers.

Former Australian Ethical finance chief lands new gig

MATTHEW WAI
The former chief financial officer of the ethical investment manager has joined a local finance company after wrapping up his tenure at AUB Group.

MySuper assets pursue $1.5tn Choice sector

KARREN VERGARA
MySuper assets are fast catching up to the $1.5 trillion Choice sector, hitting nearly $1.2 trillion in the March quarter.

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