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Showing 71 - 80 of 754 results for "Compensation"

ASIC updates remediation rules

CHLOE WALKER  |  TUESDAY, 27 SEP 2022
... product specific guidance on possible monetary and non-monetary remedies, updates guidance on the use of a low value compensation threshold and payment channels, and presents guidance on what to do if a consumer cannot be contacted or paid. It also helps ...

CSLR legislation tabled, advice sector responds

ANDREW MCKEAN  |  FRIDAY, 9 SEP 2022
The government has advanced its commitment to establish a Compensation Scheme of Last Resort (CSLR), releasing for consultation exposure draft regulations. The CSLR will facilitate the payment of compensation of up to $150,000 to eligible consumers ...

Final Royal Commission reforms to be tabled, YFYS review begins

JAMIE WILLIAMSON  |  WEDNESDAY, 7 SEP 2022
... Conference of Major Super Funds this morning. Appearing via video, Jones said he will introduce the bill to introduce the Compensation Scheme of Last Resort and the Financial Executive Accountability Regime. "This is long overdue and should have been ...

Remediation bills revealed amid call for levy freeze extension

JAMIE WILLIAMSON  |  WEDNESDAY, 24 AUG 2022
Six of the largest financial institutions have paid or offered a total of $3.6 billion in compensation to consumers over fees for no service and non-compliant advice. The new stats come as the Financial Planning Association of Australia calls for an ...

CSLR establishment is critical: FPA

CHLOE WALKER  |  FRIDAY, 12 AUG 2022
The Financial Planning Association of Australia (FPA) has called out the urgent need for a broad-based Compensation Scheme of Last Resort (CSLR) following ASIC's recent notice for former Dixon Advisory clients to register any complaints with the ...

Contact AFCA now: ASIC urges Dixon Advisory clients

JAMIE WILLIAMSON  |  THURSDAY, 4 AUG 2022
... get in quick with their complaints to the Australian Financial Complaints Authority to ensure they're eligible for compensation. ASIC plans to write to former clients of Dixon Advisory to let them know that they must lodge a formal complaint with AFCA ...

Latest AFCA data shows big shifts in complaints

JAMIE WILLIAMSON  |  WEDNESDAY, 20 JUL 2022
... complaints and just over 71,000 of them were closed. The body's dispute resolution processes saw $207.73 million paid in compensation, which each complaint taking an average of 72 days to resolve.

Inflation a greater danger than recession: Powell

ANDREW MCKEAN  |  THURSDAY, 30 JUN 2022
... year," Lowe said. "But now, there's a very strong focus of at least in parts of the labour market of getting full compensation for higher inflation." Without a credible path back to target inflation ranges, Lowe warned that this current shift in psychology ...

AMP wants life insurance caps raised, fees lowered

CASSANDRA BALDINI  |  MONDAY, 27 JUN 2022
... approximately 17,500 in early 2022 and there are no signs of these trends changing." AMP further addressed the current compensation caps, saying: "In our view, there is a strong case that the current commission caps should be retained and raised slightly." ...

ETFS Capital, WisdomTree in cooperation deal

CASSANDRA BALDINI  |  FRIDAY, 27 MAY 2022
... governance. Under the agreement, former State Street Global Advisors chief investment officer Lynn Blake will join the compensation committee while ETFGI managing partner Deborah Fuhr will be added to the board nominating and governance committee. The ...