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Showing 51 - 60 of 97 results for "fees for no service"

KPMG partner moves to GROW Super

KARREN VERGARA  |  MONDAY, 8 APR 2019
... with financial advice remediation efforts. As wealth managers further move to remediate customers for various fees for no service and financial advice misconduct, KPMG is bolstering its managed services division to meet the demand.

AMP overhauls wealth leadership

ELIZABETH MCARTHUR, JAMIE WILLIAMSON  |  THURSDAY, 4 APR 2019
... relating to financial advice, as well as contraventions to the Corporations Act and the ASIC Act in relation to fees for no service during the Royal Commission. These revelations forced AMP's chief executive at the time Craig Meller to step down. ...

Banks, ASIC still at war over fees-for-no-service

HARRISON WORLEY  |  TUESDAY, 12 MAR 2019
... be covered by further reviews into the bank's fee-for-no-service issues, how to identify customers who paid fees for no service and whether offering an annual review is sufficient. The most divergent views of the regulator and CBA are related to what ...

KPMG expands advice remediation team

HARRISON WORLEY  |  TUESDAY, 26 FEB 2019
... with financial advice remediation efforts. As wealth managers further move to remediate customers for various fees for no service and financial advice misconduct, KPMG is bolstering its managed services division to meet the demand. In the past two months ...

Ongoing service arrangements should be tightened: Hayne

JAMIE WILLIAMSON  |  MONDAY, 4 FEB 2019
An overhaul of ongoing fee arrangements has been recommended by Commissioner Kenneth Hayne to combat fees for no service conduct. The final report of the Royal Commission has recommended ongoing fee arrangements should be renewed annually by clients. ...

Commonwealth FP fails to meet EU obligations

JAMIE WILLIAMSON  |  MONDAY, 4 FEB 2019
... final report from Ernst & Young as part of the Enforceable Undertaking entered in April 2018 and in regards to fees for no service. As a result, CFPL is now required to immediately stop charging or receiving ongoing service fees from customers and must ...

Simpler fee disclosure on ASIC agenda

KARREN VERGARA  |  WEDNESDAY, 9 JAN 2019
... added the Royal Commission highlighted serious problems with fees and costs for these products, including fees for no service and fees charged to dead customers. Dunnin said he appreciates ASIC has responded to industry criticism. At face value, ASIC ...

Ten stories that defined the Royal Commission

HARRISON WORLEY  |  WEDNESDAY, 19 DEC 2018
... found itself in a "hopelessly conflicted" situation by delaying the process of compensating members charged fees for no service in order to maintain profit levels. It was revealed earlier that $67 million in general advice fees had been charged to members ...

AMP replaces Regan

JAMIE WILLIAMSON  |  WEDNESDAY, 5 DEC 2018
... within AMP's advice business, including deliberately misleading ASIC, the conscious ongoing charging of fees for no service and that shareholder's interests were prioritised above clients'. He even apologised to clients on behalf of the wealth ...

Miscalculations delay remediation, more issues emerge: AMP

JAMIE WILLIAMSON  |  WEDNESDAY, 28 NOV 2018
... assisting Michael Hodge asked Wilkins: "Is the risk that AMP faces in relation to this that it may have another fees for no service case on its hands?" Wilkins simply responded: "Yes." In a statement today, AMP said it is investigating the provision ...