NAB

Financial planning

AMP and big four see 52% increase in enforcement investigations

The Australian Securities and Investments Commission had staff on-site at the major banks and AMP for 216 days during October 2018 and December 2019....

Funds management

Which Australian firm was a world-leading dividend payer?

Commonwealth Bank of Australia has retained its spot as one of the world’s biggest dividend payers, although it has fallen from 15th place in 2018 to 20th last year. ...

Funds management

Australian dividends 3.3% down

While global dividends rose to new record in 2019, Australia had a difficult year with dividends falling 3.3%....

Funds management

Why CommBank remains a stand-out share

As two major banks announced their financial results this week, it’s a tale of two diverging share prices for Commonwealth Bank and National Australia Bank....

Financial planning

Fee-for-no-service bulk of compensation

Compensation paid by the six largest banking and financial services institutions for fee-for-no-service and non-compliant advice is at $749.7 million, according to the co...

Financial planning

ASIC bans Adelaide adviser for six years

Adrian Cassidy has been banned for acting dishonestly by concealing from his licensee recommendations he gave clients to invest in a failed start-up....

Financial planning

ASIC bans NSW adviser for four years

Former AMP and NAB authorised representative David O’Brien has been banned for failing to make sufficient inquiries into his client’s circumstances....

Financial planning

ASIC moves against NAB on fee-for-no-service

The Australian Securities and Investments Commission has taken Federal Court action against National Australia Bank citing several thousand contraventions with respect to...

Financial planning

Finally, Hume appoints another FASEA director

Three months after the resignation of Matthew Rowe the Government has looked to former NAB Wealth executive, Will Hamilton, to fill the vacant industry spot on the board ...

Financial planning

ASIC bans two advisers

South Australian adviser Wendy Chapman has been banned for five years, while Queensland adviser Nina Williams has received a one-year ban....

Funds management

Has the Austrac scandal affected funds with high Westpac allocations?

In the wake of its money-laundering scandal, most funds that had a high allocation towards the bank managed to recover losses indicating the resilience of big banks....

Financial planning

NAB exit date for MLC uncertain

The burden of client remediation has made the date for National Australia Bank’s exit from its wealth management highly uncertain and it could be later than 2021....

Financial planning

2020 date for NAB adviser annual fee agreements

Self-employed advisers working under National Australia Bank will find themselves moved to annual fee agreements in the first half of next year....

Policy & Regulation

Former Sydney adviser receives four-year ban

ASIC has banned former Apogee and ANZ financial adviser Adrian Khaw who advised clients to use an SMSF and use LRBAs to purchase a property....

Financial planning

Remediation leads to reduction on NAB cash earnings

The bank experienced a 10.8% reduction on cash earnings in FY19 due to spending $1.1 billion on customer remediation and had changes in its software capitalisation policy...