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Regulatory

Adviser banned over theft from deceased estate

JAMIE WILLIAMSON  |  FRIDAY, 12 JAN 2018
A former authorised representative of Futuro Financial Services that transferred about $300,000 to himself from a deceased estate has been permanently banned by the corporate regulator.

Former Centra Wealth adviser banned

JAMIE WILLIAMSON  |  MONDAY, 8 JAN 2018
A South Australian financial adviser was permanently banned after he was found to be receiving fees for service into his personal bank account.

IMF ramps up funding for CBA class action

EMMA RAPAPORT  |  FRIDAY, 22 DEC 2017
Shareholders in the class action against the Commonwealth Bank will receive funding from two IMF Bentham investment vehicles with aggregated capital of $150 million, moving a potentially record-breaking class action against the bank one step closer.

ANZ attempts sale to Chinese conglomerate, blocked by NZ regulator

ALEX BURKE  |  THURSDAY, 21 DEC 2017
ANZ's attempted sale of a subsidiary business to a Chinese firm has been blocked by New Zealand's Overseas Investment Office.

Early super release consultation opens

KARREN VERGARA  |  THURSDAY, 21 DEC 2017
The Federal Government's proposed changes to the early release of superannuation are open for consultation until 12 February 2018.

ASIC takes further action against MyPlanner

JAMIE WILLIAMSON  |  WEDNESDAY, 20 DEC 2017
Following on from ASIC's recent action against privately-owned MyPlanner, one of the dealer group's advisers has now agreed to refrain from providing financial services.

NAB refunds home loan customers

KARREN VERGARA  |  TUESDAY, 19 DEC 2017
NAB refunded $1.7 million to home loan customers after it failed to properly set up mortgage offset accounts, according to ASIC.

CommInsure life insurance ads misleading: ASIC

KARREN VERGARA  |  TUESDAY, 19 DEC 2017
The final investigation into CommInsure will see the life insurer pay $300,000 to a community group after ASIC raised concerns about misleading advertisements for two of its life insurance policies.

Big 4, AMP fork out massive compensation bill

KARREN VERGARA  |  MONDAY, 18 DEC 2017
AMP and the big four banks refunded customers $215.9 million for charging ongoing advice fees that failed to provide actual general or personal advice.

CBA hit with fresh AML breaches by AUSTRAC

EMMA RAPAPORT  |  FRIDAY, 15 DEC 2017
The hits keep coming for CBA with fresh allegations of money laundering and counter-terrorism financing levelled by the regulator.