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Showing 71 - 80 of 149 results for "Economics Committee"

Cormann tables adviser register to "weed out bad apples"

LAURA MILLAN  |  THURSDAY, 17 JUL 2014
... Advice (FoFA) legislation. Cormann also noted that the initiative follows recommendation 44 of the Senate Economics Committee inquiry into the performance of the Australian Securities and Investment Commission (ASIC). "Our goal remains to ensure that ...

Sustaining confidence in the Australian financial system: Murray

DAVID MURRAY  |  TUESDAY, 15 JUL 2014
... contracts. It also raises concerns with the quality of financial advice. Our report was finalised before the Senate Economics Committee released its report on the performance of ASIC. However, we appear to have identified similar issues regarding ASIC's ...

Retired High Court judge to chair CBA review panel

LAURA MILLAN  |  FRIDAY, 11 JUL 2014
... of the International Court of Justice (ICJ). CBA announced the Open Advice Program a week after the Senate Economics Committee released a report largely critical of the bank's advice process over the past years and of the way it dealt with consumer complaints. ...

Labor questions Murray, calls for another inquiry

LAURA MILLAN  |  WEDNESDAY, 9 JUL 2014
... background and qualifications, he is not the right person to be leading this inquiry." In his first reaction to the Economics Committee report, Abbott said that "the government has already commissioned a review of the financial sector more generally ...

Macquarie rebukes advice, compliance concerns

LAURA MILLAN  |  TUESDAY, 8 JUL 2014
Macquarie has issued its first public statement since a Senate Economics Committee report flagged "systemic failings of compliance" within its advice business two weeks ago. The group said that it has been working with the Australian Securities and ...

CBA reaction too slow, too little, too late

LAURA MILLAN  |  FRIDAY, 4 JUL 2014
... on the government to establish a summit of industry leaders to address the 61 recommendations of the Senate Economics Committee inquiry into the financial services regulator. The Governance Institute of Australia also issued a statement following the ...

CBA's Narev leaves key questions unanswered

LAURA MILLAN  |  FRIDAY, 4 JUL 2014
... openness; we've listened," Narev declared yesterday in the bank's first media conference following the Senate Economics Committee release of a report largely critical of CBA's management of its financial planning businesses. But Narev refused to answer ...

Government still mulling response on Senate report

LAURA MILLAN AND AAP  |  THURSDAY, 3 JUL 2014
... Commonwealth Bank's (CBA) Open Advice Review program announced today while it works on its response to the Senate Economics Committee report. Finance Minister Mathias Cormann said that it was "appropriate, indeed it was necessary, that CBA CEO Ian Narev ...

FPA calls for industry summit to restore trust in advice

LAURA MILLAN  |  THURSDAY, 3 JUL 2014
... positive changes, we would fully support calls for a Royal Commission," he added, referring to the Senate Economics Committee recommendation to set up a Royal Commission to investigate cases of bad advice within Commonwealth financial planning businesses. ...

CBA opens up compensation review to all advice clients

LAURA MILLAN  |  THURSDAY, 3 JUL 2014
... received advice between 2003 and 2012. CBA chief executive Ian Narev spoke to the media a week after the Senate Economics Committee issued the report on the inquiry into the Australian Securities and Investments Commission (ASIC), which was critical ...