All posts tagged "Remediation"
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28Australia & NZASIC Files Suit Against AMP Over Superannuation Fees
AMP companies are said to have charged advice fees to more than 1,500 customers despite being notified they were no longer able to access the relevant advice.
July 30, 2021 -
106Australia & NZWestpac to Pay Remediation Over Corporate Actions Failures
ASIC says it encourages all advice licensees and platform operators to consider their own corporate action management arrangements.
July 5, 2021 -
358AML / KYCDigital Identity: A Sound Model for Risk Mitigation
Lax attitudes towards security by consumers have made it increasingly important for banks to take advantage of digital identity systems and put in place robust security measures.
June 29, 2021 -
90EnforcementKorea FSC Extends Optimus Suspension for Six More Months
A new fund management company is being set up to take over and manage funds previously operated by Optimus Asset Management.
June 29, 2021 -
129Australia & NZ
ASIC Files Federal Court Suit Against AMP Companies
ASIC has taken court action against AMP for charging deceased customers insurance premiums and advice fees. AMP has already remediated the impacted customers.
May 31, 2021 -
200Australia & NZASIC Finds Client Detriment in Review of IOOF Licensees
In a statement, IOOF said that the advice file reviews highlighted by ASIC were already part of its existing remediation programmes of work.
May 3, 2021 -
194Australia & NZASIC Seeks Penalties from Westpac Over Credit Insurance Sales
ASIC says Westpac debited premiums for consumer credit insurance from customers who did not agree to purchase the products.
April 13, 2021 -
408Australia & NZ
APRA Approves Westpac Plan to Strengthen Risk Governance
The integrated plan outlines a comprehensive program of work to enhance Westpac’s risk culture and risk governance.
April 8, 2021 -
247Australia & NZ
RBNZ Orders Westpac NZ to Address Risk Governance Issues
Westpac’s New Zealand unit breached the RBNZ's liquidity policy by incorrectly calculating mismatch ratios.
March 25, 2021 -
424AML / KYC
APRA Ends Westpac Probe into Possible Banking Law Breaches
The investigation did not find evidence of breaches of the Banking Act or the BEAR, according to APRA Deputy Chair John Lonsdale.
March 14, 2021
