Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 651 - 660 of 722 results for "Misconduct"

CBA apologies again, refutes reckless culture accusations

LAURA MILLAN  |  FRIDAY, 27 JUN 2014
Commonwealth Bank has apologised again for the misconduct of its financial advisers that resulted in clients losing millions in retirement savings and has refuted accusations that its sales-based culture was "reckless." The bank has issued a statement ...

Senate report, a turning point for advice industry

LAURA MILLAN  |  THURSDAY, 26 JUN 2014
... powers so it could immediately suspend a financial planner if there was suspicion that the adviser "engaged in egregious misconduct causing widespread harm to clients." It also asked for banning provisions which would ensure that a banned person could ...

Senate inquiry reccommends Royal Commission into CBA

LAURA MILLAN  |  THURSDAY, 26 JUN 2014
... establish an independent inquiry in the form of a judicial inquiry or a Royal Commission to examine the cases of adviser misconduct within the Commonwealth Bank financial planning businesses. This is one of the 61 recommendations that the Economics Committee ...

Investors should take responsibility for themselves: Medcraft

LAURA MILLAN  |  WEDNESDAY, 25 JUN 2014
... that was prompted about a year ago after media reports revealed that the regulator had failed to act against cases of misconduct within Commonwealth Bank's financial planning unit. Speaking at an Australian Institute of Company Directors (AICD) event ...

CBA and ASIC "sketchy" info delays inquiry conclusion

LAURA MILLAN  |  WEDNESDAY, 28 MAY 2014
... not kept either the committee or ASIC fully informed about the compensation process for clients affected by serious misconduct within CBA's businesses." The committee expressed concern that "it may still not have a correct understanding of what has happened" ...

ASIC warns of complacency over confidential information

MARK SMITH  |  TUESDAY, 27 MAY 2014
... advisers. "Companies must understand the risks of going down this path. Selective access to information can lead to market misconduct, including breaching continuous disclosure laws and increasing the risk of insider trading. It can also lead to a perception ...

Budget reply speech 2014 -15: Bill Shorten

Wake-up call for watchdog after inquiry

LAURA MILLAN  |  TUESDAY, 22 APR 2014
... Williams said that ASIC should be able to "put a stop order on a financial planner or a liquidator when evidence of misconduct is presented, effective immediately." Williams first flagged the issues around ASIC's performance to the Senate in June 2013 ...

Westpac exec gets ASIC ban after preying on elderly's finances

ALICE URIBE  |  WEDNESDAY, 12 MAR 2014
... character, making him an unsuitable person to provide financial services. ASIC Commissioner Peter Kell said St Pierre's misconduct was very serious. "ASIC will ban people from the finance industry who act dishonestly and place personal interests ahead ...

ASIC enhances whistleblower communication

LAURA MILLAN  |  WEDNESDAY, 19 FEB 2014
... Medcraft said that changes include establishing whistleblower liaison officers within all relevant ASIC teams. The misconduct and breach reporting team and whistleblower liaison officers will soon receive new training on awareness of whistleblower protections ...