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Showing 1 - 10 of 475 results for "Remediation"

HSBC Bank fined $35m in landmark scam-protection failures

KARREN VERGARA  |  FRIDAY, 19 JUN 2026
... customers get back into their banking after they had been scammed. Upon ASIC's investigation, HSBC established a remediation program that has paid some $21.5 million in compensation to date. More remediation is expected before the end of July. The ...

APRA embeds geopolitical risks management ground rules

KARREN VERGARA  |  THURSDAY, 18 JUN 2026
... geopolitically driven operational risks are identified, assessed and managed through robust controls, monitoring and remediation practices. The regulator emphasised expectations should be applied proportionately, depending on an entity's size, complexity ...

Older Australians drive majority of super complaints: ASIC

RIDDHIMA TALWANI  |  THURSDAY, 4 JUN 2026
... monetary remedy of $12.1 million to members in 2025. Complaints related to super accounts resulted in $5.8 million in remediation - with general service delay, delay in following instructions and service-related issues the top issues members faced. Total ...

Westpac fined $26m for financial hardship neglect

KARREN VERGARA  |  WEDNESDAY, 27 MAY 2026
... Justice McEvoy added. Westpac made admissions of contravention in the proceeding and paid more than $1.7 million in remediation to affected customers, including refunds of fees and interest and compensation for non-financial loss. ASIC deputy chair Sarah ...

Financial services failing to provide consistent outcomes: AFCA

MATTHEW WAI  |  FRIDAY, 22 MAY 2026
... this front. Meanwhile, over the six months to December end, AFCA has secured $1.9 million in refunds and financial remediation for affected customers. While that is almost half of what AFCA achieved in the second half of FY25 ($3.4 million), the number ...

Rest faces scrutiny over alleged super reporting error

VINNY VUCAGO  |  TUESDAY, 12 MAY 2026
... obligation", including maintaining strong internal governance, actively monitoring data quality and ensuring timely remediation where issues are identified. The spokesperson said the ATO'S amendments protocol outlines expectations for funds managing ...

FSC ups expectations on platform trustees' governance

JAMIE WILLIAMSON  |  THURSDAY, 16 APR 2026
... controls around adviser onboarding, training and competence, scope of advice, conflict and dispute management, and remediation. The FSC said platforms may wish to have a pathway whereby a licensee or adviser is approved by is subject to additional controls ...

APRA imposes additional licence conditions on Fiducian

RIDDHIMA TALWANI  |  WEDNESDAY, 1 APR 2026
... need to implement an uplift plan to address the gaps identified by the expert and provide APRA with assurance that remediation actions are completed for it. It will also need to undertake a further review of its investment menu against the enhanced requirements ...

FEATURE | Regulation: Picking up the pieces

KARREN VERGARA  |  TUESDAY, 24 MAR 2026
... relief. InterPrac Financial Planning's parent company Sequoia Financial Group also wants to wash its hands clean of remediation obligations. It is counting on the Operational Risk Financial Requirement (ORFR), which can be activated in the same way ...

Sequoia offloads InterPrac in $50k fire sale

KARREN VERGARA  |  MONDAY, 23 MAR 2026
... Sequoia said it believes the "InterPrac PI policy provides capacity to respond to, and defend its reasonable share of remediation offered to members of APRA-regulated superannuation funds who received advice to select such APRA-regulated superannuation ...
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