CUSTOMER REMEDIATION

Policy & Regulation

The most common “stumbling block” in consumer remediation by licensees was underinvesting in systems which have led to multiple failures....

Policy & Regulation

The corporate regulator’s consultation aims to help firms identify issues that can lead to remediations earlier and to have arrangements and systems in place to return mo...

Financial planning

ANZ has been charged $559 million in customer remediation in 2H19, bringing the full year 2019 charges to $682 million....

Financial planning

National Australia Bank has revealed it is expecting to have to provide further provisioning around client remediation for adviser service fees for self-employed advisers...

Policy & Regulation

The Australian Securities and Investments Commission has signalled that financial institutions with a poor breach reporting record are likely to find themselves dealing w...

Financial planning

ANZ may have sold its wealth business but the remediation costs continue to hit its balance sheet....

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MARKET INSIGHTS

So we are now underwriting criminal scams?...

5 months ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

5 months ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

7 months ago

Commonwealth Bank has formally dropped to zero advisers following LGT Crestone’s acquisition of its advice arm – some six years on from the Hayne royal commission. ...

3 weeks 6 days ago

The FSCP has issued a written direction to an adviser who charged clients “extraordinary fees” for inappropriate and conflicted advice, as well as encouraged them to swit...

1 week 3 days ago

ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager. ...

2 weeks 6 days ago