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Showing 31 - 40 of 755 results for "Compensation"

AFCA consults on advice, MIS compensation

KARREN VERGARA  |  TUESDAY, 7 NOV 2023
The Australian Financial Complaints Authority is seeking feedback on how it should determine compensation that involves financial advice and managed investment schemes (MIS). This includes how AFCA should determine compensation for investors affected ...

Dispute resolution failures land TelstraSuper in Federal Court

KARREN VERGARA  |  MONDAY, 6 NOV 2023
... cases, complainants suffered financial loss while the complaint remained unresolved or experienced delays in obtaining compensation or access to moneys to which they were found to be entitled," ASIC said. In the year to June 2023, TelstraSuper received ...

Hollywood strike plays havoc with film fund

CASSANDRA BALDINI  |  FRIDAY, 3 NOV 2023
... high-net-worths. However, it's been lights out since the Writers Guild of America (WGA) members called for better compensation, job security, staffing and protection against artificial intelligence job interference. The Screen Actors Guild (SAG-AFTRA) ...

Super fund, insurer admin issues draw AFCA complaints

KARREN VERGARA  |  MONDAY, 23 OCT 2023
... issues on administrative and legacy systems that have drawn customer complaints and, in some cases, led to large compensation payouts, according to the Australian Financial Complaints Authority (AFCA). AFCA's latest update details the systemic issues ...

Crypto exchanges to obey financial services rulebook

ANDREW MCKEAN  |  MONDAY, 16 OCT 2023
... "efficiently, honestly, and fairly." Further, they'll be required to manage conflicts of interest and establish a compensation mechanism for retail clients who incur loss or damage due to breaches of AFSL obligations. In a joint statement, treasurer ...

APRA finds signs of step change in remuneration practices

ANDREW MCKEAN  |  THURSDAY, 7 SEP 2023
... implementation efforts, the regulator pointed out shortcomings in financial services entities controls for third-party compensation conflicts and understanding of how non-financial measures will drive "desired behaviour" regarding risk outcomes and performance. ...

Citi terminates staff super fund

JAMIE WILLIAMSON  |  TUESDAY, 29 AUG 2023
... out is to be paid back to Citigroup, as allowed for under its trust deed. While not commenting on specific employee compensation matters, a spokesperson for Citi said that the group, in conjunction with the fund's board of trustees and external consultants ...

Treasury names new ASIC commissioners

KARREN VERGARA  |  FRIDAY, 25 AUG 2023
... panel for the Ramsay Review, which recommended the establishment of the Australian Financial Complaints Authority and Compensation Scheme of Last Resort. Constant has been with CBA for nearly three years and previously was in a similar role at NAB. Prior ...

Platinum AM chief executive steps down

CASSANDRA BALDINI  |  THURSDAY, 24 AUG 2023
... management. Staff costs were $16.6 million higher compared to the prior period, primarily due to higher variable compensation expenses because of strong weighted average investment performance for the one and three years ended 31 March 2023. Platinum ...

Westpac reports $1.8bn net profit, rise in stressed assets

ANDREW MCKEAN  |  MONDAY, 21 AUG 2023
... notable items, including one-off expenses tied to the cost reset initiative and charges related the Commonwealth's Compensation Scheme of Last Resort (CSLR). According to ASIC, the CSLR will provide compensation of up to $150,000 to consumers who ...