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Showing 461 - 470 of 831 results for "Advice Business"

ROYAL COMMISSION: Top stories

JAMIE WILLIAMSON  |  FRIDAY, 20 APR 2018
... critical report about the business. Following the revelation, and that of the severity of misconduct within the advice business, Meller stepped down with immediate effect. AMP deliberately misled ASIC over ongoing fees Once again in the Royal Commission ...

Meller to leave AMP immediately

JAMIE WILLIAMSON  |  FRIDAY, 20 APR 2018
... change, AMP chair Catherine Brenner said AMP apologises unreservedly for its failures and the misconduct of its advice business. "AMP apologises unreservedly for the misconduct and failures in regulatory disclosures in our advice business. The board ...

RECAP: Advice in the Royal Commission spotlight (Days 1 - 3)

KANIKA SOOD  |  THURSDAY, 19 APR 2018
... outgoing chief executive Craig Meller to be removed from Clayton Utz's independent report about misconduct in AMP's advice business. AMP charged clients fees for 90 days after they had been moved into a BOLR pool.It also allegedly lied to ASIC, telling ...

Outgoing CEO name removed from critical AMP report draft

ALEX BURKE  |  TUESDAY, 17 APR 2018
... business. Senior Counsel Assisting Michael Hodge referred to the Clayon Utz report prepared about misconduct in the advice business. He took AMP advice head Anthony Regan to task about a conference call on 21 December 2017 in which Regan, Meller, AMP ...

Advice not yet a real profession: Kell

ALEX BURKE  |  TUESDAY, 17 APR 2018
In his statement to the Royal Commission, ASIC deputy chair Peter Kell argued financial advice is not yet a profession. Kell told Special Counsel Assisting Rowena Orr that while there are professionals in the industry, "we do not view the industry as ...

AMP's buyer of last resort measures scrutinised

JAMIE WILLIAMSON  |  MONDAY, 16 APR 2018
... became apparent to Regan in 2017 that there were significant problems with the governance and oversight of AMP's advice business. One such example was issues that arose out of an internal business rule that clients could continue to be charged fees without ...

ASIC lifts licence conditions on CountPlus subsidiary

KANIKA SOOD  |  MONDAY, 16 APR 2018
ASIC has lifted the licence conditions it imposed on a CountPlus subsidiary after it paid $2.5 million in remediation to its clients following a compliance issue in 2015. In September, 2015 ASIC placed additional licence conditions on Total Financial ...

Netwealth sells Pathway

JAMIE WILLIAMSON  |  FRIDAY, 13 APR 2018
Netwealth has offloaded its Pathway subsidiary to a large financial services technology provider. Pathway Licensee Services was acquired by IRESS for an undisclosed amount on 1 April. The platform provider confirmed the sale in a quarterly update to ...

CBA advice failures unacceptable: Comyn

DARREN SNYDER  |  FRIDAY, 13 APR 2018
Commonwealth Bank chief executive Matt Comyn apologised for the group's financial advice failures as two CBA planning subsidiaries entered an enforceable undertaking with ASIC - all before the financial services Royal Commission tackles advice on Monday. ...

Link Fund Solutions chief to depart

JAMIE WILLIAMSON  |  TUESDAY, 10 APR 2018
The chief executive of Link Fund Solutions has resigned to take on a new role with a $133 billion fund administrator. Andy Harrison has been appointed as the new chief executive of Mainstream Fund Services, Australia. Taking on the role in October ...