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Showing 681 - 690 of 1678 results for "Breach"

Westpac facing new class action

ELIZA BAVIN  |  MONDAY, 3 FEB 2020
Westpac is facing a new class action over issues connected to the bank's monitoring of financial crime and the recent AUSTRAC scandal. Rosen Law, a US based international investor rights law firm, filed the class action on behalf of purchasers of ...

Regulators should face consequences for non-compliance: FSC

HARRISON WORLEY  |  FRIDAY, 31 JAN 2020
The Financial Services Council is calling for ASIC and APRA to face consequences for failing to cooperate with one another. In a submission to Treasury on exposure draft legislation for the Financial Regulator Reform (No.2) bill, the FSC said it generally ...

Advisers still unclear on referral rules

ELIZABETH MCARTHUR  |  WEDNESDAY, 29 JAN 2020
... fee?" And the response from FASEA said simply: "Referral fees received from a third party directly to the adviser will breach the Code of Ethics." However, in another example question about licensee referral agreements FASEA was clear in saying: "Licensee ...

Statewide dumps executives

HARRISON WORLEY  |  THURSDAY, 23 JAN 2020
Statewide Super has terminated the employment of its chief financial officer and chief risk officer for breaching internal controls. According to Statewide Super's website, chief risk officer Kieran Netting and chief financial and operating officer ...

Banking sector losses continue

ELIZA BAVIN  |  THURSDAY, 23 JAN 2020
Australian banks continue to take a beating, with all of the Big Four losing brand value, according to a report from Brand Finance Australia. The report said the hit comes as the delayed effects of the global economic slowdown are being felt around ...

Westpac appoints new chair

ELIZA BAVIN  |  THURSDAY, 23 JAN 2020
Westpac has appointed John McFarlane to the board as non-executive director and chair-elect, set to replace Lindsay Maxsted on 2 April 2020. McFarlane has over 44 years' experience in the financial services industry both in Australia and internationally ...

Class action accuses NAB of super rip-off

ELIZABETH MCARTHUR  |  WEDNESDAY, 22 JAN 2020
Maurice Blackburn Lawyers today filed a class action on behalf of more than 330,000 National Australia Bank superannuation customers. The action relates to MasterKey Business Super and Personal Super account holders and accuses NAB of breaching its ...

Chief economist update: Moving target

BENJAMIN ONG  |  WEDNESDAY, 8 JAN 2020
What's a central bank to do if after so many years of policy accommodation it still couldn't hit its target? Move the goalpost, of course. The US Federal Reserve has cut interest rates three times (by 75 basis points) last year from 2.5% to ...

Government edges towards regulator cooperation

HARRISON WORLEY  |  TUESDAY, 7 JAN 2020
... another, including sharing information "to the maximum extent practicable", and notifying each other whenever one believes a breach of the law has occurred under the responsibility of the other. The government said the new provisions would allow the ...

ANZ overcharges 3.4 million customers

ALLY SELBY  |  THURSDAY, 19 DEC 2019
ANZ is the latest of the big four to be hit by the banking blues - identifying 3.4 million customers who have been overcharged as the bank swiftly makes good on recommendations from the Hayne Royal Commission. ANZ chief executive Shayne Elliot told ...