All posts tagged "Remediation"
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324Australia & NZAustralia: SocGen Securities Unit Charged for Client Money Rule Breaches
Societe Generale Securities Australia self-reported three matters over 2017 and 2018, and has completed all remediation actions in relation to its operational set-up.
March 19, 2020 -
303Australia & NZAustralia: Changes to the Banking Code of Practice Go Live
The changes include guaranteed features for basic bank accounts and the removal of overdraft and dishonour fees on basic, low fee or no fee accounts.
March 2, 2020 -
312Australia & 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 -
324Australia & NZAMP Ordered to Pay A$5m Penalty for Insurance Churn
A federal court ordered AMP to pay a A$5.175 penalty for failing to prevent its financial planners from engaging in insurance churn for higher commissions.
February 6, 2020 -
381Australia & NZANZ Announces New Remediation Costs to ‘Fix’ 3.4m Customer Accounts
At its AGM on Tuesday, ANZ announced an additional A$682mn charge for remediation work, where a total 3.4 million accounts "need fixing".
December 19, 2019 -
2.2KAsia-PacificVideo: Digital Payments in Asia: A SmartStream Perspective
Regulation Asia spoke to Haytham Kaddoura and Mark Taylor at SmartStream Technologies to understand the latest developments in digital payments and how firms can stay ahead.
December 5, 2019 -
409Australia & NZCBA’s CommInsure Penalised A$700,000 for Hawking Offences
The penalty follows last week's guilty plea from CommInsure for conducting insurance sales by phone, where the customers had not requested to be contacted.
November 29, 2019 -
320EnforcementUK Regulator Penalises Citigroup for Reporting Failures
Citi’s UK failings led to “significant errors” in the firms’ returns, preventing the Prudential Regulation Authority from obtaining an accurate picture of its capital or liquidity position.
November 28, 2019 -
374Australia & NZ
CBA’s CommInsure Faces A$1.85mn Penalty for Unsolicited Sales Calls
The penalty will be in addition to the A$12mn CommInsure has said it will pay to 30,000 policyholders to remediate telephone sales conduct issues.
November 21, 2019 -
323Australia & NZNAB Sets Aside Additional Remediation Provisions
Combined with what has already been set aside, the new A$832mn in provisions for customer-related remediation brings total provisioning to over A$2bn.
October 2, 2019
