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Showing 81 - 90 of 431 results for "Remediation"

BT Funds Management fined $20m

JAMIE WILLIAMSON | FRIDAY, 8 APR 2022

... charging of fees, premiums and commissions does not occur," Court said. BT Funds Management said it expects to complete remediation for adviser commissions by April 30. The remediation is expected to total $9.8 million and be paid to 9958 members.

Westpac fined $1.5m for mis-selling insurance

ANDREW MCKEAN | FRIDAY, 8 APR 2022

... "The sale of these products benefited the bank and not the consumer." Court added: "ASIC has secured $270 million in remediation across the sector for consumers harmed by the sale of consumer credit insurance." She also warned that under the new penalty ...

BT superannuation lead joins Citi

JAMIE WILLIAMSON | THURSDAY, 31 MAR 2022

... the role of managing director, personal and corporate superannuation. He was previously head of business controls, remediation and governance. Wallace re-joined BT in 2020, having previously worked there from 2009 to 2013. He is also a former chief operating ...

Aware Super advice arm to pay $20m fine

CHLOE WALKER | FRIDAY, 18 FEB 2022

... systematic. His Honour also highlighted the large number of Aware FS customers affected by this misconduct, noting that remediation of $105 million for this and related conduct has been paid. "Aware FS charged fees to tens of thousands of customers for ...

ASIC considering more action on Sterling collapse

KARREN VERGARA | MONDAY, 14 FEB 2022

... that allegedly breached section 917B of the Corporations Act 2001 and have not consented to participate in relevant remediation processes with the Australian Financial Complaints Authority. ASIC is also looking into the recommendation of establishing ...

Westpac shuffles executives

ELIZABETH MCARTHUR | THURSDAY, 3 FEB 2022

... services and technology will be led by current chief operating officer Scott Collary and will bring together operations, remediation, complaints, and technology. Westpac expects a small restructuring charge in its first half 2022 results.

APRA to continue scrutiny of trustees

JAMIE WILLIAMSON | WEDNESDAY, 2 FEB 2022

... also now be scrutinised following their inclusion in the heatmaps in December. APRA said it is also assessing the remediation plans of super funds that failed the inaugural performance test last year, adding that it has required some of these funds to ...

Financial services vulnerable to insider cybersecurity threats

ELIZABETH MCARTHUR | TUESDAY, 25 JAN 2022

... actually harder to detect than external attackers or hackers. "Insider threats continue to climb, both in frequency and remediation cost. That said, we are seeing the risk of malicious insider threats increase - with more users accessing business data ...

Federal Court imposes $4m penalty on industry fund

CHLOE WALKER | TUESDAY, 18 JAN 2022

... adequately manage systems changes. His Honour also noted that many Statewide members were affected by the conduct and that remediation is ongoing. "Statewide provided misleading communication to thousands of its members, telling them they had insurance ...

ASIC sues ANZ in final civil RC case

JAMIE WILLIAMSON | THURSDAY, 9 DEC 2021

... have impacted about 580,447 customer accounts, resulting in ANZ paying nearly $200 million to impacted customers in remediation. ANZ's Breakfree package, introduced in 2003, offered fee waivers, interest rate discounts on eligible ANZ products such ...

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Scarcity Partners enlists former Ophir Asset Management chief

ANDREW MCKEAN | 12:35PM

GP staking specialist Scarcity Partners has appointed former Ophir Asset Management chief executive George Chirakis as a partner.

Financial services deregulation boosts economy by $2bn: FSC

KARREN VERGARA | 12:34PM

Reforms in funds management, financial advice, and superannuation will usher in an extra $1.7 billion per year to the economy and can make Australia a serious financial services hub, the Financial Services Council (FSC) says.

Natixis, Generali merger creates $3.2tn fund manager

KARREN VERGARA | 12:31PM

Natixis Investment Managers will combine with Generali Investments Holdings (GIH) to create a behemoth with €1.9 trillion ($3.2tn) in assets under management (AUM).

RBA is 'overachieving' on inflation target: GSFM

MATTHEW WAI | 12:32PM

GSFM investment specialist Stephen Miller is predicting the RBA will deliver an interest rate cut in February.

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SCHRODER INVESTMENT MANAGEMENT AUSTRALIA LIMITED

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