All posts tagged "NAB"
-
1.0KContributed ArticleNow More than Ever: The Need for Reliable Conduct Risk Metrics
The demands being imposed on the global banking system highlight the Achilles Heel of nonfinancial risk management and, particularly, misconduct risk, says Stephen Scott at Starling.
March 21, 2020 -
326Australia & NZAustralia: FAR Extension Out of Step with Royal Commission Proposals
The proposed extension of the Financial Accountability Regime to ASIC-regulated firms could potentially affect 53,000 small businesses, says former ASIC official Pamela Hanrahan.
March 5, 2020 -
318Australia & NZASIC Reveals Sharp Increase in Investigations Involving Major FIs
As of 1 January, ASIC had 316 investigations on foot related to misconduct. Cases involving CBA, NAB, Westpac, ANZ and AMP increased 52% from 12 months earlier.
February 27, 2020 -
310Australia & NZAdvice Remediation at Six Biggest FIs Reaches A$750m: ASIC
NAB has paid over A$203mn to over 588,000 customers as compensation for non-compliant advice and fees-for-no-service misconduct.
February 12, 2020 -
304Australia & NZ
ASIC Bans Adviser for Bad Investment Recommendation
A former adviser of NAB-owned Godfrey Pembroke failed to act in his clients' best interests by recommending they invest in a mobile payments start-up that later failed.
January 29, 2020 -
362Australia & NZ
NAB Units Face Class Action for Mismanaged Superannuation
The case will focus on NAB's alleged failure to transfer A$6.3mn of accrued default amounts to MySuper in a timely fashion, as required by law.
January 27, 2020 -
386Australia & NZ
ASIC Bans Ex-AMP, NAB Adviser for Four Years
An ASIC review of advice files found a failure to make sufficient inquiries into client circumstances and existing financial products when providing advice.
January 9, 2020 -
984Australia & NZAustralian Banks Offer Emergency Relief to Bushfire Victims
The services being offered by ABA member banks to help customers include fee waivers, loan repayment deferrals, and additional financing to help cover cash flow shortages.
January 6, 2020 -
303Australia & NZ
ASIC Launches Court Proceedings Against NAB Over Service Fees
NAB is alleged to have broken the law more than 12,000 times by charging customers fees for no service and issuing defective fee disclosure statements.
December 18, 2019 -
387AML / KYCANZ Offers Assurances as Industry Faces AML Scrutiny
As the industry comes under fire for AML/CTF violations, ANZ Bank has issued a statement confirming it is reviewing its own systems and has not found any material issues to date.
November 28, 2019
