remediation

People & Products

IOOF hires regulation and remediation expert

IOOF has made a key appointment to its advice governance team, just one day after its chief executive, Chris Kelaher, stepped aside as the company faces intense regulator...

Financial planning

How will AMP handle departed advisers?

AMP Limited has yet to determine how it intends on handling its remediation obligations with respect to advisers who have left the company....

Policy & Regulation

Structured remediation models needed

The banks should offer customers independent advice on remediation or risk both a “relentless flow” of class actions and a widening trust deficit....

Life/Risk

Freedom Insurance hits life sales, liquidity issues

Freedom Insurance Group has declared it will not be recommencing sales of life products as it deals with commissions-related liquidity issues and the reality of a client ...

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

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 ...

Financial planning

NAB posts solid result despite remediation costs

National Australia Bank has reported a solid full-year profit despite remediation costs and its time-table to exit MLC....

Financial planning

Academic attacks use of two-week planners

A financial services academic has attacked the use by consultants of ‘two-week planners’ to undertake remediation work....

Financial planning

NAB remediation costs rise $314 million

National Australia Bank has added $314 million to its customer remediation costs....

Financial planning

ANZ provisions for customer remediation

ANZ may have sold its wealth business but the remediation costs continue to hit its balance sheet....

Financial planning

Are some advice remediation programs flawed?

An academic has questioned the robustness of some bank advice remediation programs claiming some work has been carried out by contractors with little more than ‘hot house...