compensation

Financial planning

CBA misses some deadlines in advice compensation process

A forensic report found the CBA failed to meet the time-frames for several clients who requested reviews for poor advice provided between 2003 and 2012....

Life/Risk

Small advisory firms less likely to compensate — ASIC

ASIC has told the Government that consumers need to know that in the event of a product failure, uncompensated losses are usually attributable to smaller advisory firms....

Financial planning

CBA offers $4.9m in advice compensation

The Commonwealth Bank has offered almost $4.9 million in compensation to clients who received poor advice while it has offered compensation to 201 cases for poor advice i...

Financial planning

CBA pays $4.8m for poor advice

CBA has paid over $4.8 million in compensation so far to clients who received poor advice or were charged incorrect fees....

Financial planning

No further compensation for Trio direct and SMSF investors

Trio Capital’s direct and SMSF investors not covered by the SIS Act will not be further compensated by the Government....

Financial planning

CBA pays 69pc of compensation to 69 planning clients

Sixty-nine clients of the Commonwealth Bank of Australia’s financial planning arms have accepted 69 per cent of the $2.9 million offered for poor advice....