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Financial planning
ClearView’s advisers were found to have failed in giving a ‘needs analysis’ to life insurance clients, according to the corporate watchdog....
Financial planning
Following a remediation program Suncorp has compensated 4,000 GuardianFP clients....
Financial planning
ASIC has released the final report on the Commonwealth Bank’s compliance with additional licence conditions that were imposed regarding advice compensation, written by Ko...
Policy & Regulation
The last of 19 civil actions brought by ASIC against financial services licensees recommending Westpoint products has wrapped up, with almost $1.5 million being recovered...
Financial planning
A senior dealer group chief executive has lambasted the Royal Commission’s call for a compensation scheme of last resort, arguing it is treating the symptoms not the caus...
Financial planning
Victims of Financial Fraud has written to Treasurer Josh Frydenberg to remind him how vehemently the party objected to holding a Banking Royal Commission. ...
Financial planning
Victims of Financial Fraud has again called for redress for Trio fraud victims, adding demands that parliamentarians push for compensation for those who lost out from oth...
Policy & Regulation
The regulator said it has completed a compliance review and remediation program, and removed additional licence conditions, for Total Financial Solutions Australia....
Financial planning
The Commonwealth Bank has asserted it is ahead of schedule in reviewing the advice given by five former advisers and in assessing what compensation may be payable....
Financial planning
The Commonwealth Bank has had additional license conditions imposed on Commonwealth Financial Planning and Financial Wisdom and is facing having to compensate the clients...
Superannuation
The Minister for Revenue and Financial Services, Kelly O’Dwyer has signalled she will move rapidly on exposing superannuation to victims of crime and other compensation c...
Financial planning
The CBA has thus far paid over $29 million in compensation for its customers who received poor advice from CFP or Financial Wisdom between 2003 and 2012....
Financial planning
The effectiveness of professional indemnity is in the spotlight as the Government commissions full consideration of a last resort compensation scheme....
Financial planning
The major banks are facing a compensation bill well over $200 million as the Australian Securities and Investments Commission delves deeper into the “fees for no service”...
Policy & Regulation
The FSC has labelled the compensation scheme of last resort a poor public policy with high risk, and asked for caution and more consultation before proceeding....
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So we are now underwriting criminal scams?...
Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...
Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...