Rowena Orr

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

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...

Policy & Regulation

ASIC questioned over governance practices

The Royal Commission has asked ASIC why recent new senior level roles were all filled by internal candidates from a limited pool, amid questions about the regulators’ gov...

Policy & Regulation

Does ASIC intend to regulate itself?

ASIC chair, James Shipton, has come under fire from the Royal Commission, which seemed dissatisfied with how the regulator intended to prove its performance improves goin...

Policy & Regulation

Shipton defends ASIC’s close relationship with bank execs

The frequent contact between ASIC commissioners and the chief executives and boards of the institutions they regulate is purely professional, ASIC’s chair has told the Ro...

Policy & Regulation

CBA CEO questions the value of past executives

Commonwealth Bank chief executive, Matt Comyn has questioned the quality of some of the bank’s previous senior executives, suggesting some had not represented appropriate...

Financial planning

CommBank backs brokers best interests duty

The Commonwealth Bank chief executive, Matt Comyn has agreed that mortgage brokers should be subject to the same sort of client best interests duty as financial planners....

Financial planning

We did not speak up to put things right

Commonwealth Bank senior executive, Marianne Perkovic formally told the bank’s chief executive, Matt Comyn that she was disappointed she did not speak up loud enough to m...

Life/Risk

Freedom’s woes continue with CEO, board resignations

Within two months of the Banking Royal Commission’s insurance hearings decimating Freedom Insurance, its chief executive, Craig Orton, has announced he will step down for...

Outsider

It’s okay to be in financial services

Outsider has no problem acknowledging “bank-bashing” as one of the great Aussie past times....

Life/Risk

FSC faces questioning on enforceability of Code of Practice

The Royal Commission has raised the issue of the enforceability of the life insurance code of practice, with the Financial Services Council facing tough questions on whet...

Life/Risk

Do insurers pay to influence advice?

Financial Services Council chief executive, Sally Loane, has admitted to the Royal Commission that insurers effectively pay for their products to be sold by advisers....

Life/Risk

TAL added to mentally ill insured’s stress: RC

The Royal Commission has heard that TAL’s treatment of an insured not only denied the mentally ill customer assistance at various points of her claim, but also actively c...

Life/Risk

Did TAL incentivise managers to deny claims?

TAL has today faced rigorous questioning by the Royal Commission as to whether case managers and senior staff were incentivised to deny claims as quickly as possible....

Life/Risk

CommInsure admits to misleading advertising

The Royal Commission has heard that CommInsure ran misleading and deceptive ads, with Commissioner Kenneth Hayne QC suggesting its reprimand by ASIC for doing so was ligh...