Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 451 - 460 of 483 results for "remediation"

NAB to take "leading role" in advice remediation

ALEX BURKE  |  WEDNESDAY, 22 APR 2015
During the Senate Economics References Committee's Scrutiny of Financial Advice inquiry, NAB chief executive Andrew Thorburn said the bank was prepared to take a "leading role" in addressing the compensation gap for victims of poor financial advice. ...

ANZ sets up $30m compensation program for advice clients

LAURA MILLAN  |  THURSDAY, 16 APR 2015
... since then. ANZ said it reported the issue to the Australian Securities and Investments Commission (ASIC) and set up a remediation program with PwC and law firm Clayton Utz as external consultants. The bank is working with the regulator to "finalise ...

ASIC investigating false fees in large advice firms

ALEX BURKE  |  THURSDAY, 16 APR 2015
... "including enforcement action." He added, "We will look to ensure that advice licensees follow a proper process of customer remediation and reimbursement of fees where such breaches have occurred."

FOS decries unpaid compensation

DARREN SNYDER  |  TUESDAY, 14 APR 2015
... also recommending ASIC establish industry-wide principles and operating guidelines for the implementation of major remediation programs by financial services providers, including interaction with independent dispute resolution arrangements. The submission ...

Abuse of reporting rules widespread: Medcraft

MARK SMITH  |  MONDAY, 23 MAR 2015
... are now looking at how NAB identified and then dealt with problem advisers. We will also consider how they conducted remediation and whether they should have reported misconduct to ASIC."

Medcraft addresses ASIC's NAB response

ALEX BURKE  |  THURSDAY, 26 FEB 2015
... legal powers. And the bank has been cooperative. ASIC has also initiated discussions with NAB Wealth about reviewing remediation provided to financial advice clients," he said. ASIC itself was mentioned in the recent press; leaked NAB Wealth documents ...

ASIC ends Macquarie EU but sees gaps in advice files

LAURA MILLAN  |  FRIDAY, 13 FEB 2015
... have been implemented, ASIC wants to see "further evidence that they are working." Kell did not give details on the remediation program and said that MEL will be providing an update soon.

Ex-ANZ adviser sent to jail over $6m fraud

LAURA MILLAN  |  WEDNESDAY, 11 FEB 2015
... obtained their money. Through these regular payments, Scott derived a net benefit of approximately $2.9 million. A remediation program started by ANZ found that 157 of Scott's 1,283 clients were impacted to date. ANZ has paid $5.715 million to 140 clients ...

Independent expert lists CBA compensation challenges

LAURA MILLAN  |  FRIDAY, 19 DEC 2014
... release the second on May 2015. "The different nature of the [Open Advice Review] OAR program relative to previous remediation programs has raised challenges for CBA," the report said. Challenges include reaching out to all eligible customers and raising ...

ASIC pays commissioners $2.9m in 2014

LAURA MILLAN  |  THURSDAY, 30 OCT 2014
... actions, including 17 criminal proceedings with six imprisonments secured. It secured $2.7 million in compensation or remediation for investors and financial consumers. A total of 62 individuals were disqualified or removed from directing companies. ...