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Showing 541 - 550 of 923 results for "Failing"

Fees for no service an old issue: AMP

DARREN SNYDER  |  FRIDAY, 4 MAY 2018
Responding to Royal Commission findings, AMP says its fees for no service issue is old news; preparation of a Clayton Utz report into the issue has been overstated; and its misleading representations to ASIC have also been overstated. The 28-page response ...

ASIC deregisters 117 SMSF auditors

KANIKA SOOD  |  WEDNESDAY, 2 MAY 2018
... mass deregistering action from ASIC. Two years ago, ASIC cancelled 133 SMSF auditor registrations for similar reasons - failing to file their annual statements. SMSF auditors are required to file their annual reports to ASIC within 30 days of the anniversary ...

Life insurance regulation needs government backing: Poll

KARREN VERGARA  |  WEDNESDAY, 2 MAY 2018
... (57%) believed it would grow at a slower rate in the future, as this segment faces a number of issues. This includes: failing to meet community expectations and reputation risk (54%); unconscionable or misleading conduct in telephone sales (31%); and ...

CBA enters APRA EU

JAMIE WILLIAMSON  |  TUESDAY, 1 MAY 2018
APRA has accepted an Enforceable Undertaking from Commonwealth Bank, having determined the bank's operational risk management framework "worked better on paper than in practice." Releasing the final report of its prudential inquiry into CBA, the regulator ...

Royal Commission to drive independent advice market: GlobalData

KANIKA SOOD  |  MONDAY, 30 APR 2018
Financial planners are likely to ditch the big four and AMP's wealth businesses to set shop alone, as customers move towards independent advice following the Royal Commission, according to GlobalData. Customers will become more discerning in their choice ...

RC suggests separating platforms and advice licensees

ALEX BURKE  |  MONDAY, 30 APR 2018
... "limited or primarily limited to platforms operated by their related companies are creating a systemic risk of planners failing to act in the best interests of their clients." She said this conflict was further exacerbated in cases where clients are ...

First Super to vote against AMP board

ALEX BURKE  |  FRIDAY, 27 APR 2018
Following a recommendation from the Australian Council of Superannuation Investors (ACSI), triggered by findings from the Royal Commission, First Super said it would vote against the re-election of AMP's board at the upcoming annual general meeting. ...

ROYAL COMMISSION: Our top stories

JAMIE WILLIAMSON  |  FRIDAY, 27 APR 2018
... removing a license," she said. ANZ blames systems for inadequate controls: RC ANZ has blamed its systems and processes for failing to adequately monitor in-house financial advisers as well as its authorised representatives within three of its aligned ...

Dover roasted for 'Orwellian' protection policy

JAMIE WILLIAMSON  |  FRIDAY, 27 APR 2018
... adviser that is not within the authority provided by the licensee under the Corporations Act. Such actions would include failing to adequately research a recommended financial product; failure to consider a client's circumstances; failure to provider ...

IOOF updates market on ANZ wealth sale

KARREN VERGARA  |  TUESDAY, 24 APR 2018
... times last week, indicating it dragged its heels on adviser misconduct, and often blamed its systems and processes for failing to adequately monitor in-house financial advisers and authorised representatives. IOOF said ANZ has provided various indemnities ...