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Showing 521 - 530 of 722 results for "Misconduct"

Outgoing CEO name removed from critical AMP report draft

ALEX BURKE  |  TUESDAY, 17 APR 2018
... report about the 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 ...

Banks put revenue above quality advice: FSU

ALEX BURKE  |  MONDAY, 16 APR 2018
... said: "Concentrating on revenue rather than acting in the best interest of customers has been the cause of much of the misconduct within banking over recent years." "We expect this round of case studies to identify similar cultural and systemic problems ...

Social media singles out ASIC in Royal Commission coverage

ALEX BURKE  |  MONDAY, 16 APR 2018
... Royal Commission into the financial regulators rather than the banks. We all know banks systemically engage in illegal misconduct, but what most don't know is that most of it is covered up by the regulators. - Lindsay David (@linzcom) April 16, 2018 ...

NAB details serious compliance concerns in RC advice submission

JAMIE WILLIAMSON  |  MONDAY, 16 APR 2018
... identified 68 advisers engaging in the provision of inappropriate advice. The bank identified multiple instances of misconduct leading to financial loss by customers, including backdating of documents, misleading statements and repeated compliance breaches. ...

AMP executive 'apologises' for advice failings

JAMIE WILLIAMSON  |  MONDAY, 16 APR 2018
... result of these practices...I believe we accept that we have [breached the Act]," Regan said. AMP admits to serious misconduct in RC submissions Asked by Hodge if this was an admission of guilt on AMP's behalf, having so far in its submissions to the ...

Commonwealth Bank refunding millions in fees for no service

JAMIE WILLIAMSON  |  MONDAY, 16 APR 2018
... submissions to the Royal Commission, Commonwealth Bank has admitted to at least $118.5 million of fee for no service misconduct. Providing examples of misconduct by authorised representatives and financial advisers employed by CBA and related entities ...

ANZ issues last minute RC submission correction

JAMIE WILLIAMSON  |  MONDAY, 16 APR 2018
... inappropriate advice and improper conduct, ANZ said it had identified 39 advisers employed or authorised by ANZ guilty of such misconduct between 1 January 2009 and 7 July 2015. An additional 40 reports were made to ASIC by ANZ between 1 July 2015 and ...

AMP admits to serious misconduct in RC submissions

JAMIE WILLIAMSON  |  MONDAY, 16 APR 2018
AMP has acknowledged hundreds of instances of misconduct in relation to the provision of financial advice between 1 January 2008 and 30 June 2015. In opening the Royal Commission's inquiry into financial advice today, Senior Counsel Assisting Rowena ...

Royal Commission must cast net wider

JAMIE WILLIAMSON  |  MONDAY, 16 APR 2018
... are likely to appear before the Royal Commission in a separate round. The inquiry, after all, has a remit to detail misconduct in the banking, superannuation and financial services industry. The Commission must also inquire whether superannuation entities ...

Financial advice under the Royal Commission spotlight next month

ALEX BURKE  |  TUESDAY, 13 MAR 2018
... suggested in a submission to the Royal Commission that financial advisers account for more than a third of all serious misconduct issues since early 2012. These investigations involved instances of fraudulent or grossly negligent conduct and willful ...