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Showing 1 - 10 of 18 results for "Banking Code"

AFCA receives record complaints in 2025

MATTHEW WAI | THURSDAY, 26 FEB 2026

... increase from the previous calendar year. "This data highlights the sustained demand for our service, and with a new Banking Code now in force, and major reforms underway across general and life insurance, this is a pivotal moment for the financial services ...

ANZ fined $240m for bond trading, retail misconduct

KARREN VERGARA | MONDAY, 15 SEP 2025

... processes issue in 2022, and took over a year to resolve it. In July 2024, ANZ was sanctioned for breaches of the Banking Code of Practice by the Banking Code Compliance Committee. Some 18,900 customer accounts have been remediated $3.8 million for fees ...

InterPrac hit with $22m in AFCA complaints

KARREN VERGARA | FRIDAY, 8 AUG 2025

... its inaugural AFSL Governance Committee. She currently sits on the board of Insignia Financial, the Customer Owned Banking Code Compliance Committee, Infrastructure Specialist Asset Management and Income Asset Management. The committee aims to provide ...

BABL named, shamed over Great Southern

ELIZABETH MCARTHUR | WEDNESDAY, 30 SEP 2020

... has been singled out as breaching the Code of Banking Practice within its Great Southern Loans business unit. The Banking Code Compliance Committee (BCCC) said in its annual report that the BABL breaches occurred between February 2015 and February 2019. ...

ASIC secures $160m in remediation over junk credit insurance

ALLY SELBY | THURSDAY, 14 MAY 2020

... sales of consumer credit insurance, worked with industry to incorporate a four-day deferred sales period into the Banking Code of Practice and the General Insurance Code of Practice, and set out guidance for all lenders who sell consumer credit insur ...

Peak bodies respond to government roadmap

KRISTI CHENG | TUESDAY, 20 AUG 2019

... implementing recommendations" it said, since the final report was handed down six months ago. All six changes to the Banking Code in the recommendations are underway, with five of the changes having provisions drafted and submitted to the regulators ...

ABA moves to protect vulnerable customers

ELIZABETH MCARTHUR | WEDNESDAY, 20 MAR 2019

... result in new industry guidelines aiming to better support vulnerable customers. These guidelines will complement the Banking Code of Practice and will be launched later this year. The guidelines will signify a commitment to ensure customers who find ...

Indigenous super access needs improvement

KARREN VERGARA | TUESDAY, 19 MAR 2019

... guidance on identification and verification. These problems may be addressed at least in part by amending the 2019 Banking Code, Hayne wrote. ASIC senior analyst of the Indigenous Outreach Program Nathan Boyle highlighted the plight of many ATSI people ...

NAB agrees to RC wealth recommendations

HARRISON WORLEY | FRIDAY, 15 MAR 2019

... them. The bank also disagrees with Hayne's recommendation that the ABA amend its definition of small business in the Banking Code to see the code apply to businesses employing less than 100 full-time equivalent employees where the loan applied for is ...

Banks vow to end grandfathered commissions

KANIKA SOOD | WEDNESDAY, 10 OCT 2018

... ABA is seeking new legislative changes to the Future of Financial Advice (FoFA) reforms. It is also overhauling its banking code of practice to stop banks from charging fees to deceased client, as it moves towards ending fees for no service across the ...

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Australian Unity to shed 195 roles

MATTHEW WAI

Australian Unity is reducing its workforce by 195 positions due to underperformance stemming from delays in government support for its Home Health platform and the integration of several businesses.

Count shutters limited-advice business, slips in size ranking

MATTHEW WAI

Count Financial has reportedly wound up its restricted SMSF/limited-advice service, losing some 26 advisers on the Financial Adviser Register, latest data shows.

First Super recruits head of investments from Prime Super

MATTHEW WAI

First Super has appointed a new head of investments, replacing Chris Artis, who was in the position for the past three months on an interim basis.

BMO eyes Euroz Hartleys' capital markets business

KARREN VERGARA

Euroz Hartleys confirmed it is in discussions with Canada's BMO Financial Group for a potential sale of its capital markets business for $145 million.

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