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Showing 51 - 60 of 132 results for %22Compensation Program%22

Wage freeze

BENJAMIN ONG  |  THURSDAY, 17 AUG 2017
... Persons paid by commission only - Working proprietors/owner managers of Pty Ltd companies - Employees on workers' compensation who are not paid through the payroll - 'Non-maintainable' jobs (i.e. jobs that are expected to be occupied for less than six ...

CBA advice compensation reaches $29m

ALEX BURKE  |  THURSDAY, 15 JUN 2017
The amount of compensation offered to Commonwealth Bank financial planning customers has reached $29 million, according to the seventh and final Promontory report into the Open Advice Review Program. Of that amount, $22.9 million has been paid so far ...

Macquarie pays the price for poor advice

JAMIE WILLIAMSON  |  FRIDAY, 9 JUN 2017
Macquarie Equities has shelled out almost $25 million in compensation in the past three years as part of its enforceable undertaking with ASIC. The corporate regulator published an update yesterday as to the remediation program's status, saying it is ...

Big banks pay $60m in advice refunds

ALEX BURKE  |  MONDAY, 22 MAY 2017
... estimated $105 million; NAB paid $4.4 million out fan estimated $5 million; and Westpac has paid its estimated total compensation of $2.6 million in full. ASIC also noted a further $34 million payable by NAB super trustee NULIS Nominees for breaches ...

Major ASIC project finds serious financial advice concerns

ALEX BURKE  |  FRIDAY, 17 MAR 2017
... release, this represented only 38% of advisers on ASIC's Financial Advisers Register. In regards to remediation and compensation, ASIC said institutions had paid out $30 million in total by 31 December 2016. This was paid to approximately 1347 customers ...

CBA to pay $23 million for poor advice

JAMIE WILLIAMSON  |  WEDNESDAY, 8 FEB 2017
The Commonwealth Bank will pay at least $23 million in compensation to customers found to have received inappropriate and costly financial advice. Promontory Financial Group confirmed it has completed all assessments of Commonwealth Financial Planning ...

Aussie firms join gender index

JAMIE WILLIAMSON  |  TUESDAY, 24 JAN 2017
... and best-in-class social policies and practices, providing Bloomberg with data across areas such as gender-equal compensation, supplier diversity initiatives and retention rates of female clients. "We are encouraged by the significant expansion of this ...

CBA defends 'incorrect' personal advice claims

JAMIE WILLIAMSON  |  MONDAY, 16 JAN 2017
... provided personal advice to a now-deceased customer. Last week Fairfax revealed CBA is working through a $68,000 compensation claim as part of its Open Advice Review program, with the key complaint being that a customer, Raymond Kataryna, was given personal ...

ASIC probe reveals 185 more CBA compo cases

KERRIE SYDEE  |  TUESDAY, 6 DEC 2016
... report on the varied licence conditions imposed on Commonwealth Financial Planning and Financial Wisdom has revealed compensation has been offered to a further 185 cases. The report was required under the additional conditions imposed by ASIC on the ...

BMW caught on car loan failures

JAMIE WILLIAMSON  |  TUESDAY, 6 DEC 2016
... remediation program, including an enforceable undertaking accepted by ASIC. BMW Finance will provide $77 million in compensation to customers affected by its responsible lending failures when providing car loans for a range of vehicles and car brands ...