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Showing 81 - 90 of 170 results for "Economics Committee"

FoFA legislative changes pass in the House of Reps

LAURA MILLAN  |  THURSDAY, 28 AUG 2014
... proposed changes to FoFA will now have to be voted for in the Senate, where Labor Senator and chair of the Economics Committee Sam Dastyari will present today a motion to disallow the changes. As many as 82 members voted in favour of the bill in the ...

BT unveils tougher adviser standards

LAURA MILLAN  |  TUESDAY, 26 AUG 2014
... requirements for its financial advisers, responding to mounting pressure from consumers, associations and a Senate Economics Committee report. Similar to the new rules approved by Commonwealth Bank (CBA), AMP and National Australia Bank (NAB), BT advisers ...

CBA looks for plaintiffs to assist in remediation process

LAURA MILLAN  |  MONDAY, 25 AUG 2014
... they received," the bank said. The Open Advice Review program was set up after media reports and a Senate Economics Committee inquiry unveiled systemic problems within CBA's financial advice businesses Commonwealth Financial Planning and Financial Wisdom. ...

Market Wrap AM

AAP  |  WEDNESDAY, 20 AUG 2014
... Locally, Reserve Bank of Australia governor Glenn Stevens will give testimony to the House of Representatives economics committee. And there is another round of companies reporting their earnings. Highlights include Coles owner Wesfarmers issuing its ...

CBA posts record profit, strong wealth management growth

LAURA MILLAN  |  WEDNESDAY, 13 AUG 2014
... misbehaviour within CBA's financial planning units, which were unveiled by media reports and a sweeping Senate Economics Committee inquiry. Since then, CBA has put in place an Open Advice Review program to review compensation to victims of poor advice ...

CBA appoints international experts to oversee advice program

LAURA MILLAN  |  MONDAY, 11 AUG 2014
... Exchange Commission from 2009 - 2012. The Open Advice Review program was set up after media reports and a Senate Economics Committee inquiry unveiled systemic problems within CBA's financial advice businesses Commonwealth Financial Planning and Financial ...

ASIC lowers wholesale investor threshold to $2.5 million

LAURA MILLAN  |  MONDAY, 11 AUG 2014
... government raising the issue as early as 2011. However, the regulator only clarified the definition after a Senate Economics Committee inquiry into ASIC's performance recommended it. During the Senate inquiry, University of New South Wales law professor ...

CBA, ASIC unveil details of new compensation scheme

LAURA MILLAN  |  FRIDAY, 8 AUG 2014
... their advice and any compensation offer was adequate. This information was made public in the wake of a Senate Economics Committee inquiry into the performance of ASIC, which was prompted by cases of poor advice, alleged fraud and document forgery within ...

Claims against advice arm have no factual basis: Macquarie

LAURA MILLAN  |  MONDAY, 4 AUG 2014
... all concerns about compliance failings and bad advice within Macquarie Private Wealth. However, the Senate Economics Committee final report of ASIC inquiry flagged "systemic failings of compliance" within Macquarie Private Wealth. The report recommended ...

CBA whistleblower casts doubts over compensation scheme

LAURA MILLAN  |  THURSDAY, 24 JUL 2014
... and Investments Commission] ASIC should be involved in compensation," given concerns expressed by the Senate Economics Committee over past programs headed by CBA and overviewed by the regulator. The final report said: "As the committee gathered more ...