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Showing 61 - 70 of 206 results for "Indemnity"

BOQ sells insurance business

ELIZA BAVIN  |  WEDNESDAY, 14 OCT 2020
... transaction is expected to be completed by the end of FY21, and is subject to regulatory approvals. BOQ will provide a capped indemnity to Farmcove for certain pre-completion matters, the bank said. In addition, a vendor load has been agreed between ...

Ratings deteriorate at AMP

ALLY SELBY  |  FRIDAY, 2 OCT 2020
... finance loans granted to aligned advice firms. "However, positively for its stand-alone credit profile, AMP Bank has an indemnity from AMP Group for losses arising from this portfolio of loans," Moody's said. The bank's residential mortgage portfolio ...

Count Financial faces class action

ANNABELLE DICKSON  |  FRIDAY, 4 SEP 2020
... charged. Count Financial was a subsidiary of CBA until October 2019 when it was acquired by CountPlus. CBA has provided an indemnity to CountPlus of $300 million for the conduct that occurred prior to and after the acquisition. The class action proceedings ...

CBA ups remediation bill for advice

ELIZA BAVIN  |  THURSDAY, 30 JUL 2020
... trust; CountPlus acquired the firm from CBA on 1 October 2019. "In connection with the acquisition, CBA provided an indemnity to cover remediation of past conduct, up to a maximum of $200 million," CountPlus said. "On 31 December 2019, CountPlus reported ...

Advisers file class action against AMP

JAMIE WILLIAMSON  |  WEDNESDAY, 29 JUL 2020
... chief executive Francesco De Ferrari that the prevalence of class actions in Australia is driving up the cost of public indemnity insurance and of doing business here. AMP is currently facing two other class actions. Speaking to Financial Standard, The ...

ASIC suspends OTC derivatives issuer

ANNABELLE DICKSON  |  TUESDAY, 21 JUL 2020
... period. This includes a dispute resolution scheme, arrangements for compensating retail clients, to hold professional indemnity insurance and to allow the termination of existing arrangements with current clients of Union Standard. At this stage no new ...

AMP should stop whining: Slater and Gordon

ELIZABETH MCARTHUR  |  THURSDAY, 2 JUL 2020
... was worried the prevalence of class actions in Australia was driving up the cost of doing business here and of public indemnity insurance.. "Mr De Ferrari runs an organisation that somehow managed to claim a gold medal for disgrace at the banking Royal ...

ASIC cancels two AFSLs

ELIZA BAVIN  |  MONDAY, 1 JUN 2020
... winding up of its four registered managed investment schemes. Australian Golden Securities is required to maintain public indemnity insurance and AFCA membership for 12 months. ASIC said both companies can apply to the Administrative Appeals Tribunal ...

ASIC revokes AFSL suspension, cancels another

ELIZA BAVIN  |  TUESDAY, 19 MAY 2020
... membership of the Australian Financial Complaints Authority for a minimum of 12 months and hold adequate professional indemnity insurance cover." Meanwhile, ASIC has revoked its suspension of Sydney-based responsible entity Ausfunds Management's ASFL. ...

ASIC winds up three financial services companies

ELIZA BAVIN  |  WEDNESDAY, 8 APR 2020
... was authorised to provide. Marigold Falconer had its AFSL suspended in May 2016 following the end of its professional indemnity insurance at the end of February 2016. ASIC also found Marigold Falconer had not lodged audited financial statements for the ...