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Showing 691 - 700 of 1726 results for "Provisio"

Westpac admits it didn't take FoFA seriously

KANIKA SOOD  |  WEDNESDAY, 7 NOV 2018
Westpac said while implementing the Future of Financial Advice reforms, it did not embed strong enough controls and record-keeping to police fee-for-no-service advice. The admission was made in the bank's annual sustainability report released today ...

Mercer, Kogan to launch super fund

JAMIE WILLIAMSON  |  WEDNESDAY, 7 NOV 2018
Mercer is partnering with Kogan to establish one of Australia's cheapest superannuation offerings. Mercer and Kogan have partnered to launch a "new no frills, ultra-low fee" superannuation fund to be named Kogan Super. According to a joint statement ...

The lucky country for fintechs

JAMIE WILLIAMSON  |  MONDAY, 5 NOV 2018
A new report points to Australia as a leader in supporting the development of fintech solutions and exploring their potential. In a new research paper, the Alliance for Financial Inclusion has reviewed the varying approaches of some of the world's developing ...

Royal Commission hits Westpac cash earnings

JAMIE WILLIAMSON  |  MONDAY, 5 NOV 2018
Westpac reported a flat net profit of $8 billion with increased remediation provisions and legal costs weighing on the group's cash earnings. The group recorded a 1% increase in net profit year-on-year to $8.095 billion for the 12 months to September ...

NAB signals more bad advice remediation

KARREN VERGARA  |  THURSDAY, 1 NOV 2018
Among its FY18 results, National Australia Bank flagged that bad advice and fees for no service remediation will continue to dampen its future financial performance. Numerous contingent liabilities and potentially paying out more compensation plagued ...

NAB still unclear on true impact of misconduct

KANIKA SOOD  |  FRIDAY, 19 OCT 2018
NAB chief executive Andrew Thorburn failed to give an exact number of clients hit by the bank's misconduct as he fronted the parliamentary inquiry into major banks in Canberra this morning. Thorburn said he expects the total number of customers ...

Former AustralianSuper risk boss joins AMP super boards

HARRISON WORLEY  |  TUESDAY, 16 OCT 2018
A former head of risk management at AustralianSuper has joined the boards responsible for the governance of AMP's superannuation funds. Tony Brain will link with AMP to help govern its suite of superannuation funds, adding more than 30 years of experience ...

ASIC delays adviser reporting deadlines

KARREN VERGARA  |  THURSDAY, 11 OCT 2018
ASIC has delayed reporting dates relating to the professional standard reforms for financial advisers. On 1 August 2018, ASIC announced existing financial advisers that don't appear on its Financial Adviser Register (FAR) will be forced to complete ...

AFA names 2018 Rising Star

HARRISON WORLEY  |  WEDNESDAY, 10 OCT 2018
A Wealth Enhancers financial adviser was named the 2018 Rising Star of the Year award at this year's Association of Financial Advisers National Adviser Conference. The award, which is sponsored by ANZ Wealth, was presented to Rebecca Pritchard in ...

Banks vow to end grandfathered commissions

KANIKA SOOD  |  WEDNESDAY, 10 OCT 2018
The banking industry wants to dismantle the legislative framework that allows financial advisers to receive grandfathered commissions and end fees for no service across the industry, ABA chief Anna Bligh said in Sydney this morning. To this end, the ...