Australia
Aussie watchdog wealth management investigations up by 216%
The Australian watchdog issued five infringement notices and A$307,800 in penalties in H1 2019
Australia’s big banks pay out A$120m for bad advice
NAB splashed the most cash at A32.4m for cases which involved a record number of 81 financial advisers
Aussie government to ban grandfathered commissions
In the latest blow to the financial advice sector
Just one in five wealthy Australians rely on financial advice
Over half only seek confirmation on their investment decisions
Aussie regulator eyes life insurance cold calling ban
After clients are pushed into buying complex products they don’t need, want or understand