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Showing 911 - 920 of 1257 results for "Royal Commission"

Regulatory inadequacy to blame: Hayne

JAMIE WILLIAMSON  |  FRIDAY, 28 SEP 2018
... response to previous financial advice scandals has enabled poor conduct to continue and exacerbate, according to the Royal Commission. In his interim report, Commissioner Hayne has said scandals dating back to the GFC can shed light on the conflicts ...

Interim report dotted with questions

KANIKA SOOD  |  FRIDAY, 28 SEP 2018
What is to gain from passing new law? That's one of many questions that dotted Commissioner Kenneth Hayne executive summary for the Banking Royal Commission's final report. Hayne boiled down his 643-word summary to two questions: Why did it ...

Banking remuneration practices to blame for misconduct

MICHELLE BALTAZAR  |  FRIDAY, 28 SEP 2018
... industry's remuneration practices and policies played a major role in the banking misconduct uncovered by the Royal Commission Inquiry, the interim report found. Governance and risk management practices failed to prevent the misconduct where a financial ...

Advice industry in hot water

JAMIE WILLIAMSON  |  FRIDAY, 28 SEP 2018
Dishonesty and greed were the key themes that underscored the Royal Commission's hearing into financial advice, Commissioner Kenneth Hayne has said. Releasing his interim report today, Hayne has said of the misconduct within Australia's major ...

Hayne admonishes ASIC

KARREN VERGARA  |  FRIDAY, 28 SEP 2018
... in the report and will respond fully in its submission by 26 October 2018. "ASIC will continue to assist the Royal Commission and to work with the Government, the Parliament and other regulators to build a stronger legislative, enforcement and regulatory ...

Labor proposes RC implementation task force

KANIKA SOOD  |  FRIDAY, 28 SEP 2018
... attorney-general's department and will oversee the implementation of reforms recommended by the final report of the Royal Commission to ensure that they are delivered swiftly and effectively," she said. Labor treasurer Chris Bowen will report to ...

Royal Commission interim report released

KANIKA SOOD  |  FRIDAY, 28 SEP 2018
... companies from erring again would add an extra layer of complexity to an already complex regulatory regime, the Royal Commission has said in its interim report released this afternoon. "The law already requires entities to 'do all things necessary to ...

Dishonest advice fees dent Westpac earnings

JAMIE WILLIAMSON  |  FRIDAY, 28 SEP 2018
... irresponsible lending and the BBSW case. The estimated $235 million does not include those incurred in responding to the Royal Commission. Westpac said the remediation programs will continue into 2019 due to ongoing investigations into wrongfully charged ...

BlackRock outlines ETF plans for Australia

KANIKA SOOD  |  FRIDAY, 28 SEP 2018
... our share of the wallet because ETFs are a wonderful building block for the managed accounts," he said. "The Royal Commission may increase this fragmentation as more advisers go independent but it will be a tailwind for ETFs and the managed accounts ...

NAB, MLC face class action

JAMIE WILLIAMSON  |  THURSDAY, 27 SEP 2018
... "In the case of the life cover, the policy was of minimal value to many customers. NAB admitted as much in the Royal Commission," he said. "Both NAB and MLC were in much stronger bargaining positions than any of the people they were contacting and selling ...