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Showing 821 - 830 of 1264 results for "CBA"

Government plays down support for royal commission

JAMES FERNYHOUGH  |  FRIDAY, 27 JUN 2014
... unwilling to consider the Senate Committee's recommendation that there be a royal commission into Commonwealth Bank of Australia (CBA). Prime Minister Tony Abbott said the government would "carefully consider" the parliamentary committee report. However ...

CBA apologies again, refutes reckless culture accusations

LAURA MILLAN  |  FRIDAY, 27 JUN 2014
... and Investments Committee (ASIC), which was prompted by cases of alleged document forgery, fraud and improper advice within CBA's advice division. "These actions were facilitated by a reckless, sales-based culture and a negligent management, who ignored ...

Senate report, a turning point for advice industry

LAURA MILLAN  |  THURSDAY, 26 JUN 2014
... of a professional association. The Senate inquiry into the performance of ASIC was prompted by cases of misconduct within CBA's financial planning businesses, but a number of submissions have brought to light similar cases in other organisations. In ...

Senate inquiry reccommends Royal Commission into CBA

LAURA MILLAN  |  THURSDAY, 26 JUN 2014
... whistleblower information that there were cases of serious advice misconduct, document forgery and alleged fraud within a number of CBA's financial planning businesses. Request for a Royal Commission The Committee said that a Royal Commission should ...

Bank cross-sell growing but slowly

ALEX DUNNIN  |  THURSDAY, 26 JUN 2014
... results, noted Roy Morgan. For example, ANZ's wallet share penetration ratio increased from 27% to 30% between 2010 and 2014, CBA's increased from 34% to 38%, NAB's increased from 24% to 28% and Westpac's increased from 30% to 33%. However, while each ...

Senate FoFA conclusions expected today

LAURA MILLAN  |  MONDAY, 16 JUN 2014
... This inquiry was prompted by the regulator's failure to address cases of bad financial advice within Commonwealth Bank's (CBA) financial planning units. The Committee's conclusions and recommendations from the ASIC inquiry are likely to influence the ...

CBA names new CIO

ALICE URIBE  |  MONDAY, 16 JUN 2014
A Commonwealth Bank (CBA) planning executive has been promoted to the role of group executive, enterprise services and chief information officer, to replace current CIO Michael Harte. David Whiteing joined the CBA in September 2013 to lead the newly ...

Financial Wisdom to face class action for poor advice

LAURA MILLAN  |  MONDAY, 16 JUN 2014
... Meridien Wealth clients who suffered financial losses next month in Cairns. Meridien Wealth was an authorised representative of CBA-owned Financial Wisdom and a series of wrong behaviour by one of its financial advisers, Rollo Sherriff, were exposed ...

Low rates force banks to change term deposit strategy

LAURA MILLAN  |  THURSDAY, 12 JUN 2014
... them lost clients holding term deposits, with Westpac experiencing the greatest loss (60,000 customers). Commonwealth Bank (CBA) experienced a similar loss in high interest online accounts, with 58,000 leaving that option, as well as 31,000 clients leaving ...

CBA brings in foreign expertise for board

AAP  |  TUESDAY, 10 JUN 2014
A top Asian banker and the Australian businessman behind the construction of London's 2012 Olympic venues are joining Commonwealth Bank's board. Shirish Apte, a former chief executive of Citi Asia Pacific, will join as a non-executive director on June ...