RC | Money Management

RC

Policy & Regulation

Opportunity and consolidation predicted in 2019

Major consultancy EY has predicted both challenges and opportunities in the financial services industry in 2019 with all sectors facing greater regulatory scrutiny and fu...

Funds management

ETP industry up in November

The Australian exchange traded product industry expanded in November despite market volatility, according to the VanEck IQ Scorecard....

Financial planning

We didn’t recognise planning risks says Westpac

Westpac has admitted that it did not fully appreciate the underlying risks entailed in running a financial planning business....

Policy & Regulation

Is IOOF APRA’s get tough guinea pig?

Documentation examined during the Royal Commission suggests the Australian Prudential Regulation Authority was actively considering whether pursuing litigation would answ...

Financial planning

VOFF calls for action against Trio director

Victims of Financial Fraud has called on ASIC to request that the Guernsey Financial Authorities question former director of a Trio Capital fund, Carl Meerveld....

Superannuation

Get general advice out of super say survey respondents

A new survey has revealed strong support for removing bank-provided “general” advice from the superannuation equation....

Financial planning

Future bright for established planners says white paper

Established and well-respected advice firms have little to fear from the Royal Commission, according to a new white paper from ClearView....

Policy & Regulation

AMP corrects $1.185 billion RC remediation figure

AMP Limited has made clear it is provisioning substantially less than the $1.185 billion mentioned during the Royal Commission for client remediation....

Financial planning

AMP on brink of additional fees for no service breach

AMP Limited acting chief executive, Mike Wilkins has confirmed the firm is facing more fees for no service remediation challenges after discovering new breaches as recent...

Superannuation

Who drove AMP’s super fee cut?

The Royal Commission has heard that the time-table attaching to the AMP superannuation fund boards’ decision to cut MySuper fees by 50 basis points was devised elsewhere ...

Financial planning

I wish we had acted sooner says NAB chairman

The chairman of National Australia Bank, Ken Henry has told the Royal Commission he wishes the board had acted more promptly in dealing with a customer remediation proces...

Policy & Regulation

NAB chairman suggests unilateral client remediation

The chairman of National Australia Bank, Ken Henry has told the Royal Commission it should consider allowing banks to remediate customers without first seeking permission...

Superannuation

RC sees industry funds increase satisfaction lead over retail

As the banks face issues with customer satisfaction so too have their associated super funds, with industry funds having increased their customer satisfaction ratings ove...

Financial planning

NAB insists fees for no service a “process issue”

NAB chief executive, Andrew Thorburn, has defended some fees for no service charged by the bank as a “process issue” rather than dishonesty, as he came under fire at the ...

Policy & Regulation

Should ASIC executives be subject to the BEAR?

Australian Securities and Investments Commission chairman, James Shipton has signalled his intention to subject his own executives to the same terms and conditions as the...