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Showing 461 - 470 of 1328 results for "AFFECTED"

ASIC reveals advice remediation progress

HARRISON WORLEY  |  THURSDAY, 1 AUG 2019
... included in the total shown in the table. By June 30 this year, NAB had paid more than $32 million to 1032 customers affected by the poor advice of 81 financial advisers. CBA paid the lowest amount of remediation and had the equivalent of only 1.5 full-time ...

ASIC sues ANZ over unlawful fees

KANIKA SOOD  |  THURSDAY, 25 JUL 2019
... in July 2011. Despite this, the bank did not report it to ASIC until 2015 and waited until 2015 to commence notifying affected customers. Remediation and a change in terms and conditions to permit the fee charging wasn't made until 2016, ASIC is alleging. ...

Deeming rate calculations should be independent: Poll

KARREN VERGARA  |  THURSDAY, 25 JUL 2019
... commented: "Due to the lower deeming rates, single pensioners can now have $22,000 more in savings before they will be affected. For couples, that's $38,000." Many will continue to be "over deemed" if they have their money in 2% term deposits, he ...

Standard Life Assurance fined for hawking non-advised annuities

KARREN VERGARA  |  WEDNESDAY, 24 JUL 2019
... £43,989,300 ($78.32m). On 31 January 2017, SLA voluntarily agreed to conduct a past business review to identify and redress affected customers. It has paid about £25.3 million ($45.1m) to 15,302 customers as at 31 May 2019. SLA is a former subsidiary ...

Member interests delay recommended

HARRISON WORLEY  |  WEDNESDAY, 24 JUL 2019
... including those of AustralianSuper and AMP - noting the compressed deadline would lead to confusion and indecision among affected fund members. While conceding the Government should consider changing the date of commencement to allow trustees to effectively ...

Advice associations weigh in on member interests bill

HARRISON WORLEY  |  FRIDAY, 19 JUL 2019
... implementation deadline, with the FPA noting it was "somewhat unreasonable for super funds to be required to write to affected members on or before August 1." "It may be reasonable for the Government to consider making minor amendments to the implementation ...

Reform implementation timeframe too short: AustralianSuper

HARRISON WORLEY  |  WEDNESDAY, 17 JUL 2019
... Protecting Your Super legislation, Land said the industry struggled to deal with the flood of inquiries received from members affected by the removal of insurance from inactive accounts. Despite making a "huge effort" to allow members losing cover to ...

Politicians dishonest about fraud: VOFF

HARRISON WORLEY  |  MONDAY, 15 JUL 2019
... VOFF said it then scolded Shorten later in the year after he suggested Trio victims with SMSFs - around 8% of people affected by the fraud - had erred by putting their retirement savings into troubled funds. According to VOFF those who invested in Trio ...

Government reduces deeming rates

KARREN VERGARA  |  MONDAY, 15 JUL 2019
... was therefore in order. "At the same time, we need to acknowledge that many of the 25% of pensioners whose pension is affected by the deeming rate are actually earning more than that rate anyway." It's important to note, Yates said, that 75% of age ...

MLC faces class action over adviser fees

ELIZABETH MCARTHUR  |  WEDNESDAY, 10 JUL 2019
... financial advisers be sued in the class action. The action will seek recovery of the fees plus interest on behalf of affected members of the MLC Super Fund. IMF Bentham and William Roberts are inviting those who had certain MLC Super or Pension product ...