Exposing banks’ super rip-off
Evidence to the royal commission has again highlighted the scandal of bank fee gouging of super savers.
Bank Inquiry
Industry funds emerge unscathed
Predictions of a royal commission reckoning for the $600bn industry super fund sector appear to have fizzled.
CBA in plea for regulator deal
CBA’s Matt Comyn lobbied ASIC to accept a media release rather than impose an enforceable undertaking for super breaches.
An overflow of Clancys
Millions flowed out of Catholic fund’s coffers as conflict of interest went unchecked for years.
Hostplus defends Open schmooze
The leading industry super fund spent $260,000 of its members’ money wining and dining associates at the Australian Open.
Bank lobbied on commissions
For Commonwealth Bank executives, it was the “Hotel California”: the continued flow of lucrative trailing commissions.
CBA’s ‘crimes’ waved by APRA
Colonial First State committed more than 15,000 criminal offences on super, the royal commission has heard.
Time to haul in bank CEOs
Day after day senior executives tell the bank inquiry key issues are outside their responsibility. So let’s bring in the CEOs.
CBA admits to 15,000 offences
CBA’s wealth management arm has conceded more than 15,000 criminal breaches occurred amid delays in shifting super funds.
‘Unashamed’ of CEO schmoozing
Industry super fund Hostplus says it needs to spend members’ money wining and dining bosses so it doesn’t lose contracts.
It’s Bendigo’s time to shine: CEO
Bendigo and Adelaide Bank expects benefits to flow from the financial services royal commission.
NAB ‘hid compo from ASIC’
NAB has been accused of keeping ASIC in the dark about extra compensation for ripped-off super clients.
Life in AMP yet despite probe
There is deep value in the stock because the business can be turned around.
Trustees immunity ‘astounding’
The lack of penalties against superannuation trustees who fail to act in clients’ best interests has been described as ‘astounding’.
Bruising bout for NAB’s Hagger
The clear intention was to blow Andrew Hagger’s credibility apart, and expose the bank’s claims as a sham.
NAB ‘withheld compo bill rise’
NAB failed to tell ASIC of boost to victims’ compensation for a fee scandal, amid concerns about media reaction, inquiry told.
NAB’s Hagger hammered
NAB’s Andrew Hagger endured a heavy round of questioning from Michael Hodge QC.
Say yes and bury the truth
When did Australian businesses and governments start getting it so wrong?
IOOF slammed over super raid
Its CEO dismissed the regulator’s concerns about conflicts of interest at the wealth manager’s super trustee company.
NABbed: giant brought to heel
A cascade of revelations has left the lender reeling.
Unions, super ‘indistinguishable’
Interests of unions and super members’ interests ‘so aligned as to be indistinguishable’, commission hears.
How super members missed $20m
A fund merger derailed by disputes over union representation cost super holders dearly, the royal commission heard.
NAB’s Hagger to front inquiry
Andrew Thorburn’s direct report will be grilled by royal commissioner Kenneth Hayne on Monday.
Any law breaking is serious
NAB should realise you can’t look after other people’s money if you’re in the habit of continued “minor” breaches of the law.
‘I’m not a handwriting expert’
IOOF has handed over handwritten notes on scraps of paper after Hayne’s inquiry requests board documents.
Threats to self-managed super
Two major hazards could damage the self-managed super fund movement — scam property funds and the Labor Party.
Silk sails through super grilling
Since the establishment of the inquiry, the Coalition has been waiting to see strips torn off some of the largest industry funds.
Silk by name, silk by nature
AustralianSuper’s chief executive, Ian Silk, finally got his turn in the financial services royal commission hot seat yesterday.
No ‘criminal acts’ insists Thorburn
NAB chief executive Andrew Thorburn has strongly rejected allegations the bank might have engaged in criminal behaviour.
NAB prolongs gouge
NAB has no plans to refund customers it has stung with a so-called ‘adviser contribution fee’.
Original URL: https://www.theaustralian.com.au/topics/bank-inquiry/page/14