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Showing 61 - 70 of 475 results for "Remediation"

AMP Super trustee has additional licence conditions removed

ANDREW MCKEAN  |  FRIDAY, 2 AUG 2024
... identified for improvement included conflicts of interest management, governance and risk management practices, breach remediation processes, addressing poor risk culture and strengthening accountability mechanisms. APRA also required AMP Super to "renew ...

Insignia Financial looks to slash redundancy entitlements

JAMIE WILLIAMSON  |  WEDNESDAY, 24 JUL 2024
... directed to a MySuper offering when they should have been. That same day Insignia announced it would need to increase its remediation bill significantly to cover the fine as well as other remediation activities related to poor financial advice, which ...

Remediation professionals told to temper expectations

ELIZA BAVIN  |  WEDNESDAY, 24 JUL 2024
Remediation projects winding up at major firms has created a lot of competition in the job market for wealth compliance and risk candidates, according to a recent Kaizen Recruitment report. The past financial year has seen considerable changes in the ...

Insignia Financial flags more remediation ahead

JAMIE WILLIAMSON  |  MONDAY, 22 JUL 2024
Insignia Financial has warned its upcoming FY24 results will be impacted by "a significant increase in remediation for legacy quality of advice" issues. In a quarterly update, Insignia Financial confirmed it is adding $135 million after tax to its remediation ...

OnePath Custodians fined $11m for MySuper failures

JAMIE WILLIAMSON  |  MONDAY, 22 JUL 2024
... response, Insignia Financial said it has made a provision of $23 million after tax, including for the penalty amount and remediation purposes.

Data concerns land Fiducian with additional licence conditions

JAMIE WILLIAMSON  |  TUESDAY, 16 JUL 2024
... published at the end of August, with APRA accepting data up until August 15. Fiducian must also develop and implement a remediation plan to address any recommendations or areas of concern identified by the expert and provide APRA - which must approve ...

Adviser permanently banned for faking qualifications

JAMIE WILLIAMSON  |  TUESDAY, 9 JUL 2024
... judgment, trustworthiness, and professionalism," the regulator said. "Cojag has informed ASIC of its client review and remediation measures in response to Mr Vee's conduct. Cojag have cooperated with ASIC's enquiries."

APRA hits Mercer with additional licence conditions

ELIZA BAVIN  |  TUESDAY, 28 MAY 2024
... terms of the new licence conditions, which came into force from 27 May 2024, Mercer Super must develop and implement a remediation plan in conjunction with an independent expert that addresses the deficiencies identified by APRA. Mercer will also be ...

Industry funds set to gobble up over 50% of superannuation assets

ANDREW MCKEAN  |  THURSDAY, 21 MAR 2024
... under the Your Future, Your Super package. Retail funds will also grow, but at a slower rate reflecting the gradual remediation of issues raised by the Hayne Royal Commission. SMSFs will remain popular, but their growth is expected to be less strong ...

Insignia details transformation progress

JAMIE WILLIAMSON  |  THURSDAY, 22 FEB 2024
... up 1.2% on 1H23. However, its statutory NPAT was impacted by costs related to its ongoing restructure and increased remediation provisions, resulting in a $49 million loss. Its funds under management and advice increased by $15.5 billion to $300.6 billion ...