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Showing 661 - 670 of 937 results for "Compensation"

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 ...

CBA's Narev leaves key questions unanswered

LAURA MILLAN  |  FRIDAY, 4 JUL 2014
... could potentially apply for a review of their advice processes, or how much CBA estimates it will have to pay for compensation. "We're confident that it won't be material from a shareholder perspective," he said. He also avoided to answer if there will ...

FPA calls for industry summit to restore trust in advice

LAURA MILLAN  |  THURSDAY, 3 JUL 2014
... joint committee with CBA to commence the process of identifying all clients and establishing fair and reasonable compensation." He said that the FPA will volunteer senior members of the organisation to serve on the working group in order to ensure proper ...

CBA opens up compensation review to all advice clients

LAURA MILLAN  |  THURSDAY, 3 JUL 2014
... the results of the review will have access to a further review by an independent panel which will determine whether compensation is payable and, if so, how much. Customers will also be able to take the matter to the Financial Ombudsman Service. Narev ...

CBA boss to be grilled on Senate report

AAP  |  THURSDAY, 3 JUL 2014
... Bishop, said CBA failed to open its books and fully identify the number of clients affected and those entitled to compensation. He said the bank's focus was on downplaying the extent of wrongdoing and minimising the amount of compensation it had to pay. ...

Inquiry sees spike in demand for legal action against CBA

LAURA MILLAN  |  WEDNESDAY, 2 JUL 2014
... advice, but adding that they would have lost more if they had been given appropriate advice, so they're not entitled to compensation." The solicitor said that the cases of bad advice that have surfaced recently are only "the tip of the iceberg." He said ...

Senate inquiry reccommends Royal Commission into CBA

LAURA MILLAN  |  THURSDAY, 26 JUN 2014
... clients affected or likely to be affected by the misconduct, as well as for an assessment of the appropriateness of the compensation amounts and the compensation processes. The independent judiciary inquiry or Royal Commission should also "make recommendations ...