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Showing 621 - 630 of 913 results for "Compensation"

ASIC pays commissioners $2.9m in 2014

LAURA MILLAN  |  THURSDAY, 30 OCT 2014
... administrative actions, including 17 criminal proceedings with six imprisonments secured. It secured $2.7 million in compensation or remediation for investors and financial consumers. A total of 62 individuals were disqualified or removed from directing ...

ASIC demands last resort compensation scheme

LAURA MILLAN  |  MONDAY, 20 OCT 2014
The Australian Securities and Investments Commission (ASIC) has demanded the introduction of a last resort compensation scheme that would provide compensation to victims of failed investments and bad financial advice "where all the other options have ...

CBA receives 4200 requests for advice review

JAMES FERNYHOUGH  |  MONDAY, 13 OCT 2014
... released in early 2015, and reporting will continue biannually. So far CBA has paid out approximately $52 million in compensation to around 1,100 customers.

FOS demands licensee-funded consumer protection scheme

LAURA MILLAN  |  MONDAY, 8 SEP 2014
... distribute financial products should fund a default consumer protection scheme to ensure consumers are paid when awarded compensation, the Financial Ombudsman Service (FOS) asked in its submission to the Financial System Inquiry (FSI). The proposal was ...

AMP lifts minimum adviser standards

LAURA MILLAN  |  THURSDAY, 21 AUG 2014
... at the centre of a Senate inquiry after media reports unveiled cases of adviser misconduct and inconsistent client compensation processes. AMP will also set up a Customer Advice Review that will attend customer complaints about the quality of advice ...

Greens slam CBA executives pay rise

LAURA MILLAN  |  TUESDAY, 19 AUG 2014
Top Commonwealth Bank (CBA) executives should have frozen their salaries or even taken a pay cut while the compensation process for thousands of victims of poor financial advice remains ongoing, Greens Senator Peter Wish-Wilson said. "It is not a good ...

Maurice Blackburn mulls class action against Macquarie

LAURA MILLAN  |  MONDAY, 18 AUG 2014
... best course of action. "We are looking at the potential for a class action, individual action or entering into the compensation scheme," Berrill said, and added that the latter is not ideal, but is "better than nothing." He expressed concern that the ...

Advice group sues online forum over negative review

LAURA MILLAN  |  MONDAY, 18 AUG 2014
... that they have now commenced legal proceedings." WCS Group is asking for a court order to remove the comments, for compensation for damages and for a declaration that Whirlpool "engaged in conduct that constitutes the tort of injurious falsehood." Whirlpool ...

Macquarie forced to contact all advice clients for remediation

LAURA MILLAN  |  FRIDAY, 15 AUG 2014
... 2004. The EU, imposed by the Australian Securities and Investments Commission (ASIC), forces Macquarie to establish a compensation process that mirrors that of Commonwealth Bank's financial planning divisions, Commonwealth Financial Planning and Financial ...

CBA dismisses Murray's concerns over vertical integration

LAURA MILLAN  |  THURSDAY, 14 AUG 2014
... in their best interest." He referred to recent cases of poor financial advice, which have forced CBA to set up a compensation program that goes back to advice provided in 2003. "If we violate that [best interest], we need to make it right," he said. ...