All posts tagged "compensation"
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294Australia & NZFinancial Planners Worry About AFCA’s Extended Powers
The FPA says advisers are worried old cases will be judged against newer, stricter advice standards and they may not be covered by professional indemnity insurance.
April 25, 2019 -
312Australia & NZNAB Provisions Extra A$750mn for Customer Refunds
The additional provisions reflect expected payouts for NAB's employed advisers, and the costs to review advice provided by its self-employed adviser network.
April 19, 2019 -
392Australia & NZCitigroup Australia to Refund Customers for Complex Product Losses
The A$3mn compensation programme follows an ASIC investigation which found that 114 retail investors lost money from investing in complex products based on improper advice.
April 16, 2019 -
334Australia & NZCBA has Complied with 2014 Financial Advice Licence Conditions
CBA has offered A$9.3mn to compensate customers whose advice was reviewed under the 2014 licence conditions imposed on its financial planning entities.
April 12, 2019 -
201IndiaRBI to Unify Complaints Handling for Digital Payments
The RBI plans to speed up customer complaint processing and redressal times across all domestic payment platforms by end-June.
April 10, 2019 -
451Australia & NZAPRA May Intervene to Shift Bank Remuneration Practices
APRA chairman Wayne Byres says banks could lose their power to set executive pay if they are not more proactive about changing remuneration practices.
March 28, 2019 -
591Australia & NZAustralian Banks Taking Too Long to Fix ‘Fees-For-No-Service’ Failings – ASIC
Delays attributed to poor record-keeping and systems, failures to implement methodologies to identify and compensate customers, and an overly legalistic approach at some institutions.
March 12, 2019 -
641FeatureBanks Increasingly Focused on Conduct Risk – FSB
At an FSB workshop on compensation practices, banks reported an increased focus on conduct risk, management accountability and culture reform.
March 12, 2019 -
608Australia & NZ
AFCA Finalises Over 18,000 Complaints in Four Months
Australia's four months old 'one stop shop' for financial services dispute resolution has finalised 18,390 complaints, yielding more than A$54mn in awards to consumers and small businesses.
March 9, 2019 -
544Australia & NZASIC Finalises HSBC’s 2016 Enforceable Undertaking
Under HSBC Australia's remediation programme, the bank offered about A$690,000 in compensation to 104 clients who may have received inappropriate advice.
February 22, 2019
