Financial adviser bans on the rise but ASIC says it needs more powers
The corporate watchdog is banning an increasing number of financial advisers over misconduct, but wants more power to go after the banks that hire them.
- by Georgia Wilkins
Latest
CBA compensation bill rises to $29m despite review claims knocked back
The Commonwealth Bank's compensation bill for victims of bad financial advice has risen to $29 million but victims say they were excluded from the outset.
- by Georgia Wilkins
NAB faces new claims over false witnessing of customer IDs
National Australia Bank is facing fresh claims its financial planners have falsely certified customer ID documents, in a potential breach of anti-money laundering rules.
- by Georgia Wilkins
Class action could delay Murray Goulburn case: ACCC
The competition watchdog is pushing to have its case against the nation's biggest milk processor heard before a class action threatens to drag the matter out.
- by Georgia Wilkins
Compensation scheme for financial victims will restore trust: Ian Ramsay
A new compensation scheme for victims of bad financial advice needs to be considered to restore trust in the financial sector, the head of the government's financial review panel says.
- by Georgia Wilkins
Ex-NAB planner banned after stealing $2.3 million, another fights ban
A former NAB financial planner has been permanently banned from the industry after pleading guilty to misappropriating $2.3 million in client funds. Another is fighting a ban in Melbourne.
- by Georgia Wilkins
EXCLUSIVE
NAB faces fresh misconduct claims over false witnessing
NAB financial planners have been caught back-dating signatures on legally-binding superannuation documents in a breach of the bank's code of conduct.
- by Georgia Wilkins
AMP to expand financial advice business under turnaround strategy
AMP says it will expand its financial advice business as part of a new turnaround strategy, despite pressure on the banks to address conflicts of interest inside their wealth divisions.
- by Georgia Wilkins
ANZ chairman David Gonski's four-point plan to fix bank levy
ANZ Bank chairman David Gonski is urging the government to enshrine in law its commitment not to raise the rate of the bank tax, in a concession lenders cannot stop the levy from going ahead.
- by Clancy Yeates and Georgia Wilkins
Bank rout wipes $50 billion in May
Some $50 billion has been wiped off the combined market value of Australia's major banks since their highs at the start of this month, as investors eye a more challenging outlook for the big four.
- by Clancy Yeates and Georgia Wilkins
CBA tightens policy on interest-only loans
The bank has removed incentives on such loans and demanded customers hold larger deposits.
- by Georgia Wilkins
Original URL: https://www.smh.com.au/by/georgia-wilkins-hveqk