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Showing 81 - 90 of 97 results for "fees for no service"

Royal Commission latest: CBA doing more with fewer advisers

KARREN VERGARA  |  WEDNESDAY, 18 APR 2018
... servicing more clients with fewer advisers was a real concern, particularly under ASIC's Report 499 that prohibits fees for no service. Perkovic said over the past decade CBA has undergone a massive business transformation and part of that involved making ...

AMP deliberately misled ASIC over ongoing fees

ALEX BURKE  |  TUESDAY, 17 APR 2018
... for orphaned clients rather than issue a disclosure statement not because said clients were being charged fees for no service, but that a disclosure statement might prompt the client to cancel an ongoing fee and potentially lodge a complaint with ASIC ...

Banks put revenue above quality advice: FSU

ALEX BURKE  |  MONDAY, 16 APR 2018
... Commission: NAB details serious compliance concerns in RC advice submission Commonwealth Bank refunding millions in fees for no service ANZ issues last minute RC submission correction Royal Commission must cast net wider AMP admits to serious misconduct ...

Social media singles out ASIC in Royal Commission coverage

ALEX BURKE  |  MONDAY, 16 APR 2018
... investigating ASIC. Not only have @asicmedia told the #BankingRC that some financial advisers charge up to $2000 in fees for no service, but they've also shown that the #big4 (+ AMP) paid 305 946 people #compensation for advice leading to no service ...

NAB details serious compliance concerns in RC advice submission

JAMIE WILLIAMSON  |  MONDAY, 16 APR 2018
... unspecified amounts owed due to adviser misconduct. NAB also admitted to charging a significant amount in fees for no service. It wrongfully charged adviser service fees between 2008 and 2015 as well as plan service fees between September 2012 and January ...

AMP's buyer of last resort measures scrutinised

JAMIE WILLIAMSON  |  MONDAY, 16 APR 2018
... Commission: NAB details serious compliance concerns in RC advice submission Commonwealth Bank refunding millions in fees for no service ANZ issues last minute RC submission correction Royal Commission must cast net wider

AMP executive 'apologises' for advice failings

JAMIE WILLIAMSON  |  MONDAY, 16 APR 2018
... for." Regan then conceded that AMP has failed to act honest, fairly and efficiently in relation to charging fees for no service but could not be certain whether AMP's own position was that there has been a failure. Pushed further, Hodge questioned whether ...

Commonwealth Bank refunding millions in fees for no service

JAMIE WILLIAMSON  |  MONDAY, 16 APR 2018
In its three submissions to the Royal Commission, Commonwealth Bank has admitted to at least $118.5 million of fee for no service misconduct. Providing examples of misconduct by authorised representatives and financial advisers employed by CBA and related ...

ANZ issues last minute RC submission correction

JAMIE WILLIAMSON  |  MONDAY, 16 APR 2018
... Commission: NAB details serious compliance concerns in RC advice submission Commonwealth Bank refunding millions in fees for no service AMP's buyer of last resort measures scrutinised Royal Commission must cast net wider

AMP admits to serious misconduct in RC submissions

JAMIE WILLIAMSON  |  MONDAY, 16 APR 2018
... series of acknowledgements of possible contraventions of the Corporations Act and the ASIC Act in relation to fees for no service. Orr said AMP acknowledged 196 events across 14 of its advice licensees where advisers failed to provide customers with ...