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Showing 641 - 650 of 3425 results for commonwealth bank

CBA remediation bill drags performance

KARREN VERGARA  |  WEDNESDAY, 7 AUG 2019
Commonwealth Bank's overall remediation and compliance costs have hit $2.2 billion, dragging its full-year June 2019 results. A large chunk ($806m) of the bank's customer remediation bill will go towards implementing regulatory and compliance ...

Financial Wisdom to shut down

JAMIE WILLIAMSON  |  WEDNESDAY, 7 AUG 2019
Commonwealth Bank has confirmed it will close Financial Wisdom. It will also allow Pathways advisers to commence transitioning elsewhere. Releasing its full year results today, the bank has confirmed it will commence the assisted closure of Financial ...

Planning foundation adds directors

HARRISON WORLEY  |  MONDAY, 5 AUG 2019
... three directors to its board. Future2 is welcoming the appointments of former FPA chair Julie Berry, acting Commonwealth Bank executive general manager of wealth management Hugh Humphrey, and Aspire Retire chief executive Olivia Maragna to its board ...

ASIC reveals advice remediation progress

HARRISON WORLEY  |  THURSDAY, 1 AUG 2019
... banks and AMP oversee financial advisers has netted less than $120 million in remediation to date. AMP, ANZ, Commonwealth Bank, NAB and Westpac have paid a total of $119.7 million [see figure 1] in remediation for poor financial advice since the corporate ...

Ban unsolicited life insurance sales: Poll

KARREN VERGARA  |  MONDAY, 29 JUL 2019
... has refunded over $1.5 million to 16,000 customers who were pressured to buy life insurance over the phone. Commonwealth Bank refunded over $10 million in August 2017 for misselling CCI. ASIC said the ban forms part of its broader priority to address ...

CFSGAM sale clears regulatory hurdles

KANIKA SOOD  |  FRIDAY, 26 JUL 2019
Commonwealth Bank has received all regulatory approvals to sell its global asset management business to Japanese banking giant. The $4.2 billion sale to Mitsubishi UFJ Trust and Banking Corporation (MUTB) is expected completion is in August, CBA said ...

Trustee firm adds executive

JAMIE WILLIAMSON  |  WEDNESDAY, 24 JUL 2019
... Trustees in a number of roles. Prior to that he was a client relationship manager at NAB and held the same role at Commonwealth Bank before that. The appointment follows continued growth of the group as it meets market demand for boutique intermediary ...

Open Banking gets another shot in parliament

ELIZABETH MCARTHUR  |  WEDNESDAY, 24 JUL 2019
... energy and telecommunications sectors are proposed to follow next. Three of the four big banks (Westpac, ANZ and Commonwealth Bank) have voluntarily launched the first stage of Consumer Data Right on 1 July 2019. The next stage of Open Banking is due ...

Corporate fund updates members on fee changes

KARREN VERGARA  |  FRIDAY, 19 JUL 2019
... corporate super fund has achieved lower investment and transaction fees for its members for the 2019 financial year. Commonwealth Bank Group Super's investment-related fee and cost estimates, which generally change each year, were mostly lower in ...

Mercer unveils best-performing Aussie equity funds

KARREN VERGARA  |  FRIDAY, 19 JUL 2019
... been some rotation into stocks that had previously lagged the market, as evidenced by the rally in shares of Commonwealth Bank and Telstra in the June quarter.