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Showing 571 - 580 of 1678 results for "Breach"

Bendigo and Adelaide Bank overstates liquidity

ANNABELLE DICKSON  |  THURSDAY, 22 OCT 2020
The Australian Prudential Regulation Authority (APRA) has imposed an independent review into Bendigo and Adelaide Bank's liquidity after it failed to comply with liquidity standards. Bendigo and Adelaide Bank informed APRA last month of breaches to ...

Cost of advice soars as red tape grows

ELIZA BAVIN  |  WEDNESDAY, 21 OCT 2020
With research showing the average cost for a Statement of Advice has increased 10% in 12 months, the Financial Planning Association of Australia (FPA) is warning of the detrimental impact ongoing reform is having on financial advisers and consumers. ...

Societe Generale fined over client breaches

ANNABELLE DICKSON  |  WEDNESDAY, 21 OCT 2020
... Australia became the first to be criminally prosecuted in August over similar charges. Pershing was fined $15,000 for a breach where the transferring sale proceeds from international trading in client's securities from trust accounts into its general ...

NAB to pay $15m for Royal Commission case study

ELIZABETH MCARTHUR  |  MONDAY, 19 OCT 2020
National Australia Bank has been ordered to pay $15 million for dealing with unlicensed home loan introducers, as revealed at the Royal Commission. ASIC brought proceedings against NAB for contravening the National Consumer Credit Protection Act, which ...

Westpac puts Australia on bad banking leaderboard

ELIZA BAVIN  |  WEDNESDAY, 14 OCT 2020
Global banks have paid out around US$10.5 billion in fines so far this year, with Westpac taking out third place thanks to the AUSTRAC scandal. The research, provided by Finbold, listed the top 10 biggest fines paid by global banks with US institutions ...

AMP names incidents, issues lead

KARREN VERGARA  |  WEDNESDAY, 14 OCT 2020
AMP has hired a former CommInsure risk expert to oversee the issues and breaches facing the firm. Angela Papas has started her new role at AMP Australia as head of incidents, issues and breaches. Papas spent over four and a half years at CommInsure ...

State Street targets insurance outsourcing

KARREN VERGARA  |  TUESDAY, 13 OCT 2020
State Street has partnered with a Danish company to provide an outsourcing solution to insurance firms in the Europe, Middle East and Africa region. SimCorp, which provides investment management software solutions, will provide its cloud-based, multi-asset ...

Evans Dixon to rebrand

KARREN VERGARA  |  MONDAY, 12 OCT 2020
Evans Dixon plans to rebrand and remove 'Dixon' from its name after former chief Alan Dixon severed all ties with the ASX-listed firm. Subject to shareholder approval, Evans Dixon will rebrand to E&P Financial Group and change its ticker code ...

Adviser sentenced to eight years' prison

ELIZABETH MCARTHUR  |  FRIDAY, 9 OCT 2020
... clients placed their trust in Mr Dick and relied heavily on him to manage their finances. His conduct involved a gross breach of this trust and resulted in significant losses for his clients over more than ten years. His sentencing should send a strong ...

TPB bans tax agent over COVID-19 fraud

ALLY SELBY  |  FRIDAY, 9 OCT 2020
The Tax Practitioners Board (TPB) has terminated the company registration of Sydney-based tax agent after she attempted to exploit a COVID-19 stimulus measure for over $20,000. The TPB determined TLL Tax Pty Ltd and its director Liying Tong breached ...