Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 591 - 600 of 912 results for "Compensation"

Advice industry faces insurance quandary

ALEX BURKE  |  MONDAY, 4 MAY 2015
... a "limited scheme of last resort" in instances where - due to insolvency, say - planning firms were unable to pay compensation to clients under existing PI insurance arrangements. Speaking at the inquiry, Macquarie Group chief executive Nick Moore endorsed ...

May Day mayday

BENJAMIN ONG  |  FRIDAY, 1 MAY 2015
... spending reports - i.e. consumers are spending because the labour market is strengthening which puts upward pressure on compensation costs. But alas! Wall Streeters still didn't like it. The S&P 500 index dropped by 1.0% last night despite the "good" ...

Report confirms failed CBA compensation

LAURA MILLAN  |  THURSDAY, 23 APR 2015
... firm KordaMentha has confirmed that the advice divisions of Commonwealth Bank (CBA) failed to implement consistent compensation programs under the regulator's surveillance. Following the report, CBA will need to contact 2,740 clients to offer them up ...

NAB to take "leading role" in advice remediation

ALEX BURKE  |  WEDNESDAY, 22 APR 2015
... inquiry, NAB chief executive Andrew Thorburn said the bank was prepared to take a "leading role" in addressing the compensation gap for victims of poor financial advice. NAB advice client Veronica Coulston was raised as a specific example by Senator ...

CBA advisers ran from ASIC

ALEX BURKE  |  WEDNESDAY, 22 APR 2015
... the hearing, pointing to the company's independent Open Advice Review program. He did concede, however, that the compensation process had taken longer than customers might have hoped, saying that it would continue "this year and most of next year." "We ...

Industry should help fund ASIC: ANZ

LAURA MILLAN  |  TUESDAY, 21 APR 2015
... said they were not aware if those advisers are employed somewhere else in the industry. Asked about the $30 million compensation announced for Prime Access clients who had no access to the yearly advice reviews they were entitled to, Phillips confirmed ...

Big end of town to face Senate over bad advice

LAURA MILLAN  |  FRIDAY, 17 APR 2015
... compensated with $30 million. "I want to know what they are doing to raise the financial planning standards and how the compensation process is going," Williams said. The Senator was the first to raise concerns in Parliament about cases of misconduct ...

ANZ sets up $30m compensation program for advice clients

LAURA MILLAN  |  THURSDAY, 16 APR 2015
ANZ will reimburse $30 million to clients of its financial planning business who did not get the annual reviews promised as part of the bank's advice and investment service. About 8,500 Prime Access clients will be reimbursed, ANZ confirmed in a statement. ...

FOS decries unpaid compensation

DARREN SNYDER  |  TUESDAY, 14 APR 2015
The Financial Ombudsman Service believes a limited compensation scheme is the missing piece from regulatory discussions and suggested improvements in Australia's financial system. The call comes as part of the service's submission to the Financial System ...

CalPERS meetings open to members

ALEX DUNNIN  |  WEDNESDAY, 18 MAR 2015
... corporate governance. The meetings CalPERS make available to members include meetings of the Full Board; the Performance, Compensation & Talent Management Committee; the Finance & Administration Committee; Pension & Health Benefits Committee; Investment ...