enforceable undertaking

Editorial

The misdeeds which occurred within Commonwealth Financial Planning have become a stalking horse for those seeking to prevent any amendments to FOFA....

Editorial

Lightning strikes twice

The financial planning industry suffered substantial collateral damage as a result of the collapse of Storm Financial but, as Mike Taylor reports, last week’s Senate Comm...

Financial planning

Cormann confirms telling Commbank to sort it out

The Minister for Finance and Acting Assistant Treasruer, Senator Mathias Cormann, has confirmed meeting with Commonwealth Bank chief, Ian Narev, and impressing on the ban...

Financial planning

Trio investment manager jailed

Former investment manager linked to failed superannuation fund Trio Capital, Tony Maher, was sentenced to 25 months jail for financial gain through misleading statements....

Financial planning

Commbank promises detailed response

Commonwealth Bank chief executive, Ian Narev has promised a detailed response to last week’s scathing Senate Committee report as Financial Services Minsiter, Senator Math...

Financial planning

Royal commission must consider ASIC's resources: Medcraft

ASIC says a royal commission into its handling of Commonwealth Financial Planning (CommFP) scandal would divert resources from other investigations it's currently pursuin...

Financial planning

Senate Committee recommends royal commission

The Senate Committee reviewing the performance of ASIC has recommended a royal commission into the Commonwealth Financial Planning debacle....

Financial planning

Banksia auditor barred for five years

The lead auditor for the Banksia Financial Group will be barred from practising for five years as part of the ongoing investigation into the group being conducted by the ...

Financial planning

ASIC claims CommFP was not “upfront”

ASIC chairman, Greg Medcraft admits ambiguity led to CommFP client compensation failures, but claims the bank was not “upfront”....

Editorial

Digging a deeper hole

Mike Taylor writes that the board of the Commonwealth Bank must be wondering how it was possible for the controversy around Commonwealth Financial Planning to get worse....

Financial planning

ASIC accepts EU from Queensland advisory firm

ASIC has accepted an enforceable undertaking from a Gold Coast advisory group related to deficiencies in monitoring and supervising its planners...

Financial planning

FPA defends its handling of bad planners

As Commonwealth FP again finds itself in the media spotlight, the FPA has defended the manner in which it has handled members who broke bad....

Financial planning

CommFP can still improve, says ASIC

ASIC tells a Senate Committee that while Commonwealth Financial Planning has lived up to its enforceable undertaking requirements, further work is required on its breach ...

Financial planning

Lessons to be learned from an enforceable undertaking

An enforceable undertaking is one of the major challenges that can confront a financial services business, writes Grant Holley, but it need not be a nightmare and can be ...