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

Search Results

Showing 681 - 690 of 1237 results for "licensees"

ASIC grilled over negotiating with banks

ALEX BURKE  |  FRIDAY, 27 APR 2018
... today questioned ASIC over its practice of heavily negotiating enforceable undertaking outcomes with financial advice licensees. Senior Counsel Assisting Rowena Orr asked ASIC senior executive leader - financial advisers, Louise Macaulay, why ASIC did ...

Royal Commission singles out 325 NAB staff cutting corners

ALEX BURKE  |  TUESDAY, 24 APR 2018
... statements." Steele found employees thought such behaviour was "common practice and acceptable," both at NAB and at non-NAB licensees, and that they did not understand the serious of these actions. Hagger said this concerned him very much, adding that ...

ANZ blames systems for inadequate controls: RC

KARREN VERGARA  |  MONDAY, 23 APR 2018
... use financial planning software XPLAN. Over time, ANZ recognised how important creating uniformity was, and mandated licensees to move to XPLAN or else "part ways with us," she said. Rixon also said remuneration structures varied between salaried planners ...

HUB24 expands distribution team

KANIKA SOOD  |  FRIDAY, 20 APR 2018
... takes on the newly-created role of HUB24's head of strategic sales, where he will lead business initiatives involving licensees, boutiques and new corporate partners. Paula Day has also joined the platform provider, taking on the role of head of key ...

AMP platform fees laid bare

KARREN VERGARA  |  WEDNESDAY, 18 APR 2018
... agreeing the platforms will automatically deduct fees from their accounts either every month or quarter and remit these to licensees. It is then up to the licensee's audit and compliance division to ensure that the adviser does provide a service to the ...

Insto licensees still bleeding talent

ALEX BURKE  |  WEDNESDAY, 18 APR 2018
The number of advisers using non-institutional licensees increased by 11.9% in the 12 months to December 2017, while institutionally-owned licensees saw adviser numbers fall by 4.4%. A new Rainmaker report explains that the number of registered advisers ...

AMP admits to serious misconduct in RC submissions

JAMIE WILLIAMSON  |  MONDAY, 16 APR 2018
... Act and the ASIC Act in relation to fees for no service. Orr said AMP acknowledged 196 events across 14 of its advice licensees where advisers failed to provide customers with services for which they had paid. The events took place between 1 July 2008 ...

AFA responds to 'disappointing' PJC life insurance report

KARREN VERGARA  |  WEDNESDAY, 11 APR 2018
... place by Minister for Revenue and Financial Services Kelly O'Dwyer. "Such a program will duplicate audits performed by licensees and will add significantly to the ASIC Funding Levy that each adviser will need to pay," it said. The association suggested ...

CFSGAM model portfolios added to FirstWrap

JAMIE WILLIAMSON  |  MONDAY, 9 APR 2018
... continue our commitment to provide a broad range of solutions for advisers including a tailored managed account offer for licensees with investment capabilities or bespoke requirements." Recent analysis from Investment Trends saw FirstWrap rank fourth ...

Executive pay structure still fuels risk-taking: APRA

KANIKA SOOD  |  WEDNESDAY, 4 APR 2018
... remunerate senior executives in a way that encourages risk-taking and undermines long-term financial health - but RSE licensees may be doing a better job than their peers, APRA said today. The findings follow a seven-month review APRA undertook last ...