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Showing 71 - 80 of 473 results for "remediation"

AMP revamps Jigsaw Advice Solutions

JAMIE WILLIAMSON  |  THURSDAY, 14 DEC 2023
... marketing services. Advisers also have the option to add-on other services like complaints handling, individual client remediation, business consulting, professional year support, and money management solutions. In enhancing the offering, AMP has made ...

MLC Life names general manager, remediation

JAMIE WILLIAMSON  |  MONDAY, 11 DEC 2023
MLC Life has hired the man who led Commonwealth Bank's recent $1 billion remediation program to the role of general manager, remediation programs. Ian Fletcher, currently general manager of program strategy, customer remediation at Commonwealth Bank ...

'Significant deficiencies' lead APRA to act against NGS Super

JAMIE WILLIAMSON  |  FRIDAY, 8 DEC 2023
... the additional conditions now require the fund to engage an independent third party to provide assurance regarding remediation activities and to address the recommendations of the reviews. The third party must also conduct an operational effectiveness ...

Mercer fined $12m over advice failures

JAMIE WILLIAMSON  |  THURSDAY, 23 NOV 2023
... outcome shows, if they fail to do so, they face significant penalties." Mercer has previously paid about $45 million in remediation to more than 3400 clients who were charged fee for advice they may not have been provided. This conduct stretched from ...

Perth Mint enters voluntary enforceable undertaking

CASSANDRA BALDINI  |  THURSDAY, 23 NOV 2023
... regulatory response. AUSTRAC said the EU will ensure that Gold Corporation commits sufficient resources to implement its remediation program or risk further enforcement action. It said further action could include seeking court orders to enforce the ...

More than $17m paid in CFD-related remediation

JAMIE WILLIAMSON  |  THURSDAY, 9 NOV 2023
... Markets Asia Pacific, Eightcap, IG Australia, Pepperstone Group, Saxo Capital Markets, and City Index were forced to pay remediation. Of the amount paid, $13.1 million went to 523 clients of Oztures Trading, which traded as Binance Australia Derivatives ...

ANZ hit with $15m penalty for misleading customers

ANDREW MCKEAN  |  TUESDAY, 26 SEP 2023
... ANZ has already reimbursed over 186,000 accounts for erroneous fees and interest on cash advances. While the average remediation amount is around $45 per affected account, some individual customers were charged thousands of dollars in fees. On top of ...

Licensees shun remediation obligations: ASIC

KARREN VERGARA  |  TUESDAY, 26 SEP 2023
... appropriate oversight and accountability. ASIC measured large licensees against standards in Regulatory Guide 277 Consumer Remediation and found several gaps that could lead to poor consumer outcomes. Many are narrowing the remediation review period ...

NAB to pay $2.1m for knowingly overcharging customers

JAMIE WILLIAMSON  |  FRIDAY, 22 SEP 2023
... 2888 personal accounts and 513 business accounts. The actual issue began in 2001 and resulted in about $9 million in remediation paid. The judge said NAB "unjustifiably advanced its self-interest whilst knowing that its customers were oblivious to the ...

Boards must crack down on cybersecurity: ASIC

CASSANDRA BALDINI  |  TUESDAY, 19 SEP 2023
... being boards' oversight of cyber risk, management reporting of cyber risk to boards, management identification and remediation of cyber risk, cyber risk assessments, and how cyber risk controls are implemented. Longo highlighted three ways in which ...