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Showing 31 - 40 of 66 results for "Bill for"

Adviser tampered with MySuper

ELIZABETH MCARTHUR  |  FRIDAY, 1 NOV 2019
... and Tran's conduct effectively required clients to opt-out, ASIC said. His actions resulted in a $366,000 compensation bill for Aon Hewitt Financial Advice. "Of the minority of clients who responded to Aon Hewitt, most indicated they now wished to switch ...

Licensee faces hefty remediation bill

ELIZABETH MCARTHUR  |  WEDNESDAY, 18 SEP 2019
Australian financial services license holder ClearView Financial Advice has been hit with a remediation bill for $730,000. ClearView's review and remediation program for over 200 clients who received poor life insurance advice resulted in the figure. ...

AFA, FPA slam haste in ending grandfathered commissions

KRISTI CHENG  |  FRIDAY, 2 AUG 2019
... them through their investment fees just because a financial adviser stops receiving commissions. He also criticised the bill for making no provision to prevent the possibility that retirees could lose more by giving up favourable tax and pension treatments ...

State Street cops $125m penalty

JAMIE WILLIAMSON  |  WEDNESDAY, 3 JUL 2019
... conduct to the regulator and cooperated with the SEC throughout the investigation. "For years, State Street sent clients a bill for expense reimbursement, without disclosing that State Street had added extra compensation for itself - compensation that ...

NAB initially under-reported remediation bill to ASIC

KANIKA SOOD  |  MONDAY, 13 AUG 2018
... report featuring other banks as well. The NAB executive did not tell Tanzer the bank's estimate for its total compensation bill for the plan service fees. Neither did he put NAB's dollar estimate in writing. Instead Hagger told the ASIC officer that ...

Fees for no service compensation unfinished business: ASIC

DARREN SNYDER  |  THURSDAY, 17 MAY 2018
... Australian Council of Superannuation Investors (ACSI) conference in Sydney this morning. He said the $220 million compensation bill for fees for no service will continue to rise. The chair also reiterated ASIC is working towards delivering an accountability ...

RECAP: Advice in the Royal Commission spotlight (Days 6- 9)

KANIKA SOOD  |  FRIDAY, 27 APR 2018
... to disclose Meyn's conduct to FPA, of which he later became a member. Meanwhile, ANZ said it anticipated a $50 million bill for RC-related legal and other costs. IOOF updated the market on its proposed acquisition of the ANZ wealth management business ...

Airlie loses key mandate after Magellan acquisition

ALEX BURKE  |  WEDNESDAY, 21 FEB 2018
The acquisition of Airlie Funds Management by Magellan coincided with the former losing a substantial mandate with a large Australian super fund. As per Rainmaker data, Airlie was appointed to manage a portfolio of Australian equities for AustralianSuper ...

Magellan acquires US and Australian fund managers

ALEX BURKE  |  TUESDAY, 6 FEB 2018
Magellan has made two strategic acquisitions of Australian and US-based asset managers, significantly expanding its local and international distribution capabilities. The Australian manager is the $6 billion Airlie Funds Management, which specialises ...

NAB refunds home loan customers

KARREN VERGARA  |  TUESDAY, 19 DEC 2017
... mistake." The corporate regulator recently reported NAB was one of the big institutions that paid a huge compensation bill for charging ongoing advice fees, but failed to provide actual general or personal advice. AMP and the big four banks collectively ...