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Showing 591 - 600 of 1726 results for "Provisio"

AIST finds issues with FASEA code

ELIZABETH MCARTHUR  |  MONDAY, 25 NOV 2019
The Australian Institute of Superannuation Trustees has written to FASEA chief executive Stephen Glenfield seeking clarification on how key points of the Code of Ethics will apply to intra-fund advice. Responding to the guidance on the code, AIST chief ...

Remediation bill tops $10b: ASIC

ELIZA BAVIN  |  MONDAY, 18 NOV 2019
ASIC said its current tally for remediation provisioning is now "well above" $10 billion, but only $660 million has been returned to 1.2 million consumers. Speaking at the FINSIA: The Regulators 2019 conference, ASIC deputy chair Karen Chester said ...

Advice practices urged to contact ombudsman

ELIZABETH MCARTHUR  |  WEDNESDAY, 6 NOV 2019
The Australian Small Business and Family Enterprise Ombudsman Kate Carnell is calling on small business financial advice practices to share their experiences. Carnell wants to hear from those small and family enterprises being pushed out by financial ...

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) ...

Westpac takes $1 billion profit hit

ELIZA BAVIN  |  THURSDAY, 24 OCT 2019
Westpac's customer compensation bill has added $341 million in the second half of 2019, bringing the remediation total to $958 million for the year. Westpac chief executive Brian Hartzer said: ""A key priority in 2019 has been to deal with outstanding ...

AFA calls for clarity on ethics code

ELIZABETH MCARTHUR  |  WEDNESDAY, 23 OCT 2019
The Association of Financial Advisers (AFA) has called for more clarification and key changes on the Financial Adviser Standards and Ethics Authority code of the ethics. FASEA released its first guidance on the code, which will come into effect next ...

FASEA clears up code of ethics

ELIZA BAVIN  |  MONDAY, 21 OCT 2019
The Financial Adviser Standards and Ethics Authority have released a guidance document for its code of ethics for financial advisers, which will come into effect on January 1, 2020. The code comprises of five values and 12 standards and has been designed ...

CommInsure charged over hawking

HARRISON WORLEY  |  FRIDAY, 4 OCT 2019
CommInsure has been charged with 87 counts of making unsolicited telephone calls to sell life insurance, and faces up to $1.8 million in penalties. ASIC is alleging the Commonwealth Bank subsidiary unlawfully sold life insurance policies over the phone ...

NAB hit with extra billion in remediation

ELIZABETH MCARTHUR  |  WEDNESDAY, 2 OCT 2019
National Australia Bank announced an additional $1.18 billion in remediation expenses, mostly relating to financial advice. Combined with previously announced remediation costs, NAB is now facing a total remediation bill of $2.09 billion. The unforeseen ...

Retirement income under review

HARRISON WORLEY  |  FRIDAY, 27 SEP 2019
The government has established a review into Australia's retirement income system, following through on the Productivity Commission's recommendation. Announced on Friday afternoon, the review's terms of reference will examine the three pillars ...