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Showing 81 - 90 of 132 results for %22Compensation Program%22

NAB upgrades advice compensation program

LAURA MILLAN  |  THURSDAY, 21 MAY 2015
National Australia Bank (NAB) has upgraded the compensation program for victims of bad advice with the appointment of a consumer advocate. University of NSW professor of Law Dimity Kingsford Smith will act as a consumer advocate within NAB Wealth's ...

Market Wrap AM

AAP  |  WEDNESDAY, 20 MAY 2015
... JPMorgan Chase rose 0.9 per cent after 61 per cent of shareholders endorsed the company's controversial $US20 million compensation package for chief executive Jamie Dimon. Shareholder advisory groups ISS and Glass Lewis opposed the plan as poorly linked ...

May Day mayday

BENJAMIN ONG  |  FRIDAY, 1 MAY 2015
... spending reports - i.e. consumers are spending because the labour market is strengthening which puts upward pressure on compensation costs. But alas! Wall Streeters still didn't like it. The S&P 500 index dropped by 1.0% last night despite the "good" ...

Report confirms failed CBA compensation

LAURA MILLAN  |  THURSDAY, 23 APR 2015
... started in 2014. Specifically, it looks at Project Hartnett, which the bank put in place in 2008, and at the Compensation Program that started under the Australian Securities and Investments Commission (ASIC) enforceable undertaking to Commonwealth Financial ...

CBA advisers ran from ASIC

ALEX BURKE  |  WEDNESDAY, 22 APR 2015
... the hearing, pointing to the company's independent Open Advice Review program. He did concede, however, that the compensation process had taken longer than customers might have hoped, saying that it would continue "this year and most of next year." "We ...

ANZ sets up $30m compensation program for advice clients

LAURA MILLAN  |  THURSDAY, 16 APR 2015
... ANZ said it reported the issue to the Australian Securities and Investments Commission (ASIC) and set up a remediation program with PwC and law firm Clayton Utz as external consultants. The bank is working with the regulator to "finalise the refund methodology ...

FOS decries unpaid compensation

DARREN SNYDER  |  TUESDAY, 14 APR 2015
The Financial Ombudsman Service believes a limited compensation scheme is the missing piece from regulatory discussions and suggested improvements in Australia's financial system. The call comes as part of the service's submission to the Financial System ...

Nationals pressure Treasury for RC into white collar crime

LAURA MILLAN  |  MONDAY, 23 FEB 2015
... Bank and Macquarie Group. Both groups started to work with ASIC to improve their processes and have put in place compensation programs for victims of bad financial advice since then. However, the Committee recommended to set up a Royal Commission to ...

Ex-ANZ adviser sent to jail over $6m fraud

LAURA MILLAN  |  WEDNESDAY, 11 FEB 2015
... were impacted to date. ANZ has paid $5.715 million to 140 clients with whom it has reached agreement on the payment compensation. ANZ and M3 cooperated with the investigation by the Australian Securities and Investments Commission (ASIC) and also engaged ...

Independent expert lists CBA compensation challenges

LAURA MILLAN  |  FRIDAY, 19 DEC 2014
... evolving regulatory framework applying to financial advice over the Review Period; and constructing an appropriate compensation model where poor advice has been identified. CBA chief executive officer Ian Narev said that the report "gives the public ...