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

Search Results

Showing 611 - 620 of 937 results for "Compensation"

CBA compensation payments total $79,702 so far

LAURA MILLAN  |  FRIDAY, 29 MAY 2015
... five clients who received bad advice from the bank's financial planners, while most clients are still reviewing the compensation proposal. Independent expert for the compensation process Promontory Financial Group released its second report and confirmed ...

Lawyer slams NAB compensation scheme

LAURA MILLAN  |  FRIDAY, 22 MAY 2015
... the appointment of NSW University Law professor Dimity Kingsford Smith as consumer advocate for clients claiming compensation. "Our initial reaction is that the program doesn't go far enough. There is no true sense of independence," Ivantsoff said, noting ...

NAB upgrades advice compensation program

LAURA MILLAN  |  THURSDAY, 21 MAY 2015
National Australia Bank (NAB) has upgraded the compensation program for victims of bad advice with the appointment of a consumer advocate. University of NSW professor of Law Dimity Kingsford Smith will act as a consumer advocate within NAB Wealth's ...

Market Wrap AM

AAP  |  WEDNESDAY, 20 MAY 2015
... JPMorgan Chase rose 0.9 per cent after 61 per cent of shareholders endorsed the company's controversial $US20 million compensation package for chief executive Jamie Dimon. Shareholder advisory groups ISS and Glass Lewis opposed the plan as poorly linked ...

ASIC seeks more bans in SMSF advice crackdown

ALEX BURKE  |  FRIDAY, 15 MAY 2015
... trustees. "Investors need to do their homework, check who they are dealing with and remember SMSFs do not have access to compensation arrangements in the event of theft or fraud. There can also be significant tax penalties for those trustees of SMSFs ...

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 ...