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Showing 631 - 640 of 913 results for "Compensation"

CBA posts record profit, strong wealth management growth

LAURA MILLAN  |  WEDNESDAY, 13 AUG 2014
... sweeping Senate Economics Committee inquiry. Since then, CBA has put in place an Open Advice Review program to review compensation to victims of poor advice, but the group has not revealed how much this is likely to cost. "The group considers that provisions ...

CBA appoints international experts to oversee advice program

LAURA MILLAN  |  MONDAY, 11 AUG 2014
... company results, which will be released this Wednesday. Promontory Financial Group will review the processes of CBA's compensation program to victims of poor financial advice between 2003 and 2012. The group will also report periodically on the outcomes ...

CBA, ASIC unveil details of new compensation scheme

LAURA MILLAN  |  FRIDAY, 8 AUG 2014
... found to be inconsistent. Commonwealth Financial Planning (CFPL) and Financial Wisdom (FW) will have to reopen the compensation process by contacting more than 4,000 clients with an assessment of the advice received and an offer for a further review. ...

ASIC cracks down on advisers over PI insurance

LAURA MILLAN  |  THURSDAY, 7 AUG 2014
... Associates and Accountants Plus. ASIC also referred three licensees for further action for failure to have adequate compensation arrangements and released, or is in the process of releasing, 54 security bonds. It also prompted 17 entities to voluntarily ...

Integrate next-gen insurance policies into NDIS

ALEX DUNNIN  |  THURSDAY, 7 AUG 2014
... ourselves well publicly," she added. An example is could life insurance operate on an incentivised model like workers compensation insurance? Another is recognising that many clients don't appreciate the distinction between life and health insurance ...

Claims against advice arm have no factual basis: Macquarie

LAURA MILLAN  |  MONDAY, 4 AUG 2014
... EU with the regulator. "Given that ASIC did not, until recently, fully understand how the CBA was implementing its compensation schemes for clients affected by the CFPL scandal, the committee doubts ASIC is fully aware of the Macquarie business and remediation ...

CBA whistleblower casts doubts over compensation scheme

LAURA MILLAN  |  THURSDAY, 24 JUL 2014
... Morris argued that "neither CBA nor [the Australian Securities and Investments Commission] ASIC should be involved in compensation," given concerns expressed by the Senate Economics Committee over past programs headed by CBA and overviewed by the regulator. ...

Retired High Court judge to chair CBA review panel

LAURA MILLAN  |  FRIDAY, 11 JUL 2014
... review by the independent review panel, led by Callinan, which will review individual cases and determine whether compensation is payable and, if so, how much. "The Honourable Ian Callinan has demonstrated throughout his career an outstanding ability ...

Macquarie rebukes advice, compliance concerns

LAURA MILLAN  |  TUESDAY, 8 JUL 2014
... compliance culture." "Given that ASIC did not, until recently, fully understand how the CBA was implementing its compensation schemes for clients affected by the CFPL scandal, the committee doubts ASIC is fully aware of the Macquarie business and remediation ...

CBA reaction too slow, too little, too late

LAURA MILLAN  |  FRIDAY, 4 JUL 2014
... added, and noted that "for a long period there was denial." The Financial Planning Association (FPA) welcomed CBA's compensation commitment, but called for an increase of education requirements at the bank's financial planning businesses. "We have proposed ...