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Showing 491 - 500 of 897 results for "Failing"

Life insurers admit to misconduct: Royal Commission

HARRISON WORLEY  |  MONDAY, 10 SEP 2018
... Commission, Australia's largest group insurer by market share, AIA acknowledged it engaged in misconduct since 2014 by failing to provide notices to up to 100,000 customers, which meant they may have been unaware their life insurance had been cancelled ...

MLC, NULIS in court over $100m in illegitimate fees

JAMIE WILLIAMSON  |  THURSDAY, 6 SEP 2018
... services that weren't already freely available. ASIC believes MLC Nominees and NULIS contravened the Corporations Act by failing to ensure services were provided efficiently, honestly and fairly when it deducted the $33 million in fees, and made ...

Former MyPlanner adviser fails best interests test

JAMIE WILLIAMSON  |  WEDNESDAY, 5 SEP 2018
The corporate regulator has accepted an enforceable undertaking from a former MyPlanner financial adviser for failing to act in the best interests of his clients. Wollongong-based adviser James Phillip Allen is prohibited from providing financial services ...

Retail super funds reject MySuper delays

KARREN VERGARA  |  TUESDAY, 4 SEP 2018
... executive general manager Linda Elkins blamed the limitation of CBA's systems and lack of operational capacity for failing to meet the Government-mandated 1 January 2014 deadline that default contributions must be paid into MySuper products. CBA ...

Direct life insurance failing consumers: ASIC

KARREN VERGARA  |  THURSDAY, 30 AUG 2018
A comprehensive ASIC review of direct life insurance found sales practices and products that offer little to no value are leading to poor consumer outcomes. The practises of 11 life insurance providers selling direct-to-customers were examined and included ...

Chief economist update: Famous last words

BENJAMIN ONG  |  TUESDAY, 28 AUG 2018
... diminished over the past month or so." July 20, 2008 - "The GSEs are adequately capitalised. They are in no danger of failing." And then wham bam thank you ma'am, Lehman Bros. filed for bankruptcy on 15 September 2008, setting off a chain of events ...

Retail super funds in hot water: Royal Commission

KARREN VERGARA  |  MONDAY, 27 AUG 2018
... Hodge said Nulis and MLC Nominees engaged in misconduct or conduct falling below community standards and expectations for: Failing to act in the best interests of members when it came to remediation, seeking instead to minimise amounts required to be ...

Discriminatory bank regulation hits super savings

JAMIE WILLIAMSON  |  WEDNESDAY, 22 AUG 2018
... from the possibility of a government feeling the need to bail-out uninsured creditors (that is, most superannuants) of a failing bank," the report said. "There appears to be no logical reason why institutional super fund members should be penalised as ...

Super funds cop governance grilling

HARRISON WORLEY  |  TUESDAY, 21 AUG 2018
... Commission shining a light on Energy Super's practice of choosing board members under the equal-representation model, yet failing to appoint a director with investment experience. The Commission also heard IOOF continued to charge more than 40,000 ...

ANZ grilled over Smart Choice sales

JAMIE WILLIAMSON  |  THURSDAY, 16 AUG 2018
... executive general manager Linda Elkins blame the limitation of CBA's systems and lack of operational capacity for failing to meet the Government-mandated 1 January 2014 deadline that default contributions must be paid into MySuper products.