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Showing 1 - 10 of 473 results for "remediation"

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 ...

Life insurer sanctioned for invalid access to customer information

MATTHEW WAI | TUESDAY, 3 MAR 2026

... monitoring, especially where manual steps are introduced." Having considered the seriousness of the breach and the insurer's remediation efforts, the Life CCC determined that a warning was the appropriate and proportionate sanction. "A formal warning ...

Governance issues on the rise: ASIC

ELIZA BAVIN | WEDNESDAY, 25 FEB 2026

... Enforcement and Regulatory update, outlining that the regulator has secured hundreds of millions in penalties and remediation. ASIC secured a record $349.8 million in court-ordered civil penalties in the second half of 2025 following successful cases ...

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BT appoints new head of strategy

KARREN VERGARA

A former Allianz Retire+ executive has joined BT as the new head of strategy.

ASX sees trade volumes soar in May

MATTHEW WAI

ASX saw a substantial growth in trade volumes last month, despite continued lackluster movement in IPOs.

Otivo launches AI-powered financial advice

MATTHEW WAI

Otivo has launched a mobile app for Australians to access licensed advice powered by AI.

Munro expands access to climate focused fund

VINNY VUCAGO

The Munro Global Growth Climate Leaders PIE Fund has been opened to retail investors in New Zealand.

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