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Showing 621 - 630 of 894 results for "Failing"

APRA releases report on Trio investigation

KERRIE SYDEE  |  MONDAY, 11 APR 2016
... adequately monitor the performance of the investments." The report also revealed that Trio's directors were identified as failing their duties and functions under the SIS Act, and not acting in the best interest of members. The report noted that the ...

ASIC hands Allegianz six month suspension

KERRIE SYDEE  |  FRIDAY, 1 APR 2016
... ASIC has placed a six month suspension on Melbourne-based Allegianz's Australian Financial Services Licence (ASFL) for failing to comply with a number of key obligations. In a statement the regulator said that Allegianz had failed to lodge auditor reports ...

ANZ appoints PwC for OnePath compliance review

ALEX BURKE  |  TUESDAY, 15 MAR 2016
... million. Breaches included having member contributions allocated to incorrect super accounts for up to a year, and ANZ failing to follow-up on 21,000 cheques sent to customers which were not cashed within 15 months. As a result, ASIC requested an independent ...

ASIC tightens Macquarie's AFSL

ALEX BURKE  |  FRIDAY, 11 MAR 2016
... 2004 and 2014 pertaining to "breaches of the client money provisions of the Corporations Act." These breaches included failing to deposit client money into a designated trust account and making unauthorised withdrawals from said account. As a consequence ...

With pretty numbers like these, who needs a rate cut?

BENJAMIN ONG  |  FRIDAY, 4 MAR 2016
... Australia is having. Expect Gov Glenn to start using his jawbone sometime soon again if the A$'s appreciation persists. Failing that, there's always the rate cut option.

ACE forced to pay $1m for poor Combined sales culture

MARK SMITH  |  FRIDAY, 26 FEB 2016
... professional sports and off-road dirt-bike riding specifically excluded under the policy. The company also admitted to failing to put a framework in place to foster a culture of compliance. "ACE Insurance is a clear case of how poor culture and conflicts ...

Super funds losing billions to fossil fuels

DARREN SNYDER  |  WEDNESDAY, 10 FEB 2016
... members up to $3024 during the same period. Market Forces analyst Daniel Gocher said Australia's superannuation industry is failing to respond to its members' concerns about climate change and the damage caused by fossil fuels. "They claim to understand ...

ISA says 15pct tax rebate no good

DARREN SNYDER  |  THURSDAY, 4 FEB 2016
... comes to superannuation tax changes. "It is essential that super remains attractive for ordinary working Australians - failing to do so will reduce retirement incomes and increase reliance on the age pension," Whiteley said. "We need to take the opportunity ...

CBA says most customers received appropriate advice

ALEX BURKE  |  TUESDAY, 2 FEB 2016
The fourth update on CBA's Open Advice Review has been released, which the bank said is evidence that the "majority of customers" assessed so far received appropriate advice. The report, prepared by Promontory Financial Group, is based on the nearly ...

CBA refunds $80m for failing to apply discounts

LAURA MILLAN  |  WEDNESDAY, 25 NOV 2015
... Commonwealth Bank (CBA) will refund about $80 million to around 216,000 Wealth Package customers as a compensation for failing to apply fee waivers, interest concessions and other benefits since 2008. The Wealth Package offered benefits such as interest ...