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Showing 41 - 50 of 97 results for "fees for no service"

ASIC bans former Charter, NAB adviser

KANIKA SOOD  |  WEDNESDAY, 8 JAN 2020
... of Australia's biggest financial institutions in areas of credit and retail lending, financial advice, fees for no service, superannuation trustees, insurance, unfair contract terms and other licensee obligations. In addition to the 64 advisers ...

NULIS satisfies ASIC requirements

HARRISON WORLEY  |  MONDAY, 16 DEC 2019
... Personal Super products in 2012 and 2013. ASIC said that while its Federal Court proceedings with NULIS over fees for no service remained ongoing, it was still engaging with the trustee in an effort to improve its operations and address the recommendations ...

ASIC, MLC Nominees and NULIS in court

ELIZABETH MCARTHUR  |  MONDAY, 4 NOV 2019
ASIC has commenced Federal Court action against MLC Nominees and NULIS today in regards to fees for no service, filing a statement of agreed facts and admissions. ASIC alleges NULIS and MLC (as the current and former superannuation trustees of NAB) ...

Senior lawyer drags AMP to court

KANIKA SOOD  |  THURSDAY, 24 OCT 2019
... date, she was aware that companies in the AMP Group misrepresented to ASIC that some instances of charging fees for no service were results of administrative errors, and had corrected some of them to attribute them to business practice. About six months ...

Dealer group to fight grandfathered commissions ban

ELIZABETH MCARTHUR  |  FRIDAY, 13 SEP 2019
... factors," Ardino said. Lifespan wants to make it clear that grandfathered commissions do not involve misconduct or fees for no service or breaches of professional standards or community expectations inherently. "Grandfathered commissions are legitimate ...

BT faces fees for no service class action

ELIZABETH MCARTHUR  |  FRIDAY, 6 SEP 2019
Westpac confirmed it has received a class action filed against BT Funds Management and Westpac Life Insurance Services in relation to BT's Super for Life cash investment option. Slater & Gordon filed the action on behalf of Tracey Ghee. Westpac ...

IOOF advice remediation hits $235m

KARREN VERGARA  |  MONDAY, 26 AUG 2019
IOOF will fork out a whopping $235.3 million to compensate customers for bad advice and charging fees for no service rendered. The ASX-listed firm's June 2019 financial results were overshadowed by its client remediation bill that is expected to ...

Commonwealth FP completes EU compliance

ELIZABETH MCARTHUR  |  WEDNESDAY, 12 JUN 2019
Commonwealth Financial Planning has complied with ASIC's court enforceable undertaking regarding fees for no service conduct and said it will transition to a new business model. At the end of May, ASIC received an attestation from Commonwealth Financial ...

AMP class actions consolidated

HARRISON WORLEY  |  MONDAY, 27 MAY 2019
... AMP denies the allegation that it had information that was required to be disclosed to the market regarding fees for no service and AMP's interactions with ASIC (including in respect of the Clayton Utz report)."

Technical Services Forum: Keep advisers informed of change

HARRISON WORLEY  |  THURSDAY, 11 APR 2019
... report, highlighting the biggest lessons for the financial advice sector. Carroll noted Hayne's view that fees for no service was an endemic issue. "Hayne was very concerned about this issue and he pretty much fell shy of saying that it was essentially ...