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Showing 51 - 60 of 89 results for "Poor advice"

CBA offers more than $4m in compensation

KERRIE SYDEE  |  THURSDAY, 2 JUN 2016
... period of 1 January 2016 to 30 April 2016, 877 cases were deemed to have had appropriate advice, 41 cases were given poor advice (no financial loss to customer), 115 cases were given poor advice and compensation was offered, 47 cases were deemed to be ...

ASIC orders HSBC remediation plan for "deficient" advice

ALEX BURKE  |  TUESDAY, 17 MAY 2016
... consistently. "Clients affected by the breach will have an opportunity to have their advice reviewed, and where instances of poor advice that led to financial loss are identified, to receive compensation. "The independent expert will assess the adequacy ...

CBA says most customers received appropriate advice

ALEX BURKE  |  TUESDAY, 2 FEB 2016
... documented processes... in our opinion none of these exceptions represented serious or intentional failings to assess poor advice." Commenting on the release, CBA executive general manager Advice Review program Leif Gamertsfelder said: "This report outlines ...

Industry meets behind closed doors to fix advice

LAURA MILLAN  |  WEDNESDAY, 29 APR 2015
... with consumer organisations, she noted that the proposed framework limits the consumer's liability if they receive poor advice. Campo praised the Assistant Treasurer's initiative to adopt "a pragmatic and consultative process" similar to the one that ...

Industry should help fund ASIC: ANZ

LAURA MILLAN  |  TUESDAY, 21 APR 2015
... behaviour and it is the industry's responsibility to better supervise its advisers and minimise the chances of fraud or poor advice," Hodges said. ANZ Global Wealth chief executive officer Joyce Phillips added that the industry needs supervision and ...

Industry, government respond to Trowbridge report

ALEX BURKE  |  FRIDAY, 27 MAR 2015
... even if capped," ISA chief executive Robbie Campo said. "Conflicted remuneration structures are the primary cause of poor advice in Australia, featuring in every major advice scandal of the past decade. If allowed to remain, they will continue to undermine ...

Independent expert lists CBA compensation challenges

LAURA MILLAN  |  FRIDAY, 19 DEC 2014
... framework applying to financial advice over the Review Period; and constructing an appropriate compensation model where poor advice has been identified. CBA chief executive officer Ian Narev said that the report "gives the public visibility of the processes ...

ASIC to watch CBA advisers closely

LAURA MILLAN  |  FRIDAY, 14 NOV 2014
... they previously received was subject to an internal review, as CBA had identified that their adviser had provided poor advice to some customers in the past. Customers contacted will be given the choice to have their assessment reviewed, and the opportunity ...

Poor advice forces changes to SMSF practice

LAURA MILLAN  |  THURSDAY, 2 OCT 2014
... super fund (SMSF) advice business has been forced to improve its advice processes over concerns that it was providing poor advice to clients. Melbourne-based Interprac Financial Planning agreed to address concerns from the Australian Securities and Investments ...

Senate bill challenges general advice definition

LAURA MILLAN  |  TUESDAY, 2 SEP 2014
... Economics Committee inquiry into the Australian Securities and Investments Commission (ASIC) that unveiled cases of poor advice and alleged fraudulent behaviour within Commonwealth Bank's advice business and Macquarie Private Wealth.