Australia
Australian banking giant to exit wealth management
National Australia Bank (NAB) is to exit its advice, platform, superannuation and asset management business by the end of 2019, according to the bank’s financial results.
Aussie complaints body gets launch date
The Australian Financial Complaints Authority (Afca) will provide “free, fast and binding dispute resolution to consumers and small businesses” from 1 November 2018.
Damning revelations from Australia’s Royal Commission
The second week of Australia’s Royal Commission into financial advice was not a let-down after a jaw-dropping first week. Click through the slides below to see what happened…
Jaw dropping moments from Australia’s Royal Commission
It’s squeaky bum time for senior executives as Australia’s banking, superannuation and financial advice firms face the intense scrutiny of a Royal Commission. Click through the slides below to read some of the incredible moments from the first week of the review into financial advice.
AMP misleading Aussie regulator could bring ‘jail time’
Australian treasurer Scott Morrison says revelations financial services giant AMP intentionally and repeatedly misled the regulator over advice fees charged to its own customers could result in “jail time”, a sentiment echoed by the regulator.