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Showing 621 - 630 of 936 results for "Compensation"

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 ...

Punitive excess contributions tax removed

MARK SMITH  |  MONDAY, 9 MAR 2015
... the excess non-concessional contribution. A 15% tax offset is then passed on to the superannuation fund member as compensation for tax paid on the investment earnings. SMSF Association chief executive and managing director Andrea Slattery was among the ...

Employers must do more to promote ethical culture

MARK SMITH  |  THURSDAY, 5 MAR 2015
... respondents were asked how they would address the problem. One third (31% globally, and 36% in Australia) said that compensation should be better aligned with investor objectives, and 27% (25% in Australia) said that a zero-tolerance policy by management ...

Medcraft addresses ASIC's NAB response

ALEX BURKE  |  THURSDAY, 26 FEB 2015
... Senate Economics Legislation Committee, ASIC chair Greg Medcraft addressed the recent media coverage of NAB Wealth's compensation to its advice clients. "We have started our information gathering from NAB Wealth using our formal legal powers. And the ...

NAB chief executive outlines misconduct policy changes

ALEX BURKE  |  TUESDAY, 24 FEB 2015
... of its advice businesses. Despite the recent revelation that NAB had paid between $10 million and $15 million in compensation to its financial advice clients, Thorburn noted that the bank had a "relatively low" 0.2% complaint ratio. He added that NAB ...

Nationals pressure Treasury for RC into white collar crime

LAURA MILLAN  |  MONDAY, 23 FEB 2015
... Bank and Macquarie Group. Both groups started to work with ASIC to improve their processes and have put in place compensation programs for victims of bad financial advice since then. However, the Committee recommended to set up a Royal Commission to ...

NAB denies failing advice clients

ALEX BURKE  |  MONDAY, 23 FEB 2015
... scrutiny, rather than by NAB's internal processes. Hagger responded that NAB has paid between $10 and $15 million in compensation to clients where the bank "didn't get it right the first time." "We have over 1.7 million customers and clearly we want ...