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Showing 251 - 260 of 1206 results for %22CBA%22

Royal Commission will guide remuneration standard: APRA

DARREN SNYDER  |  WEDNESDAY, 20 MAR 2019
... standards more generally; again this will be in light of what we have learned through our supervisory activity, through the CBA prudential inquiry and the findings of the Royal Commission," Brennan said. The APRA executive added that a 10-year post-GFC ...

Commonwealth Bank delays wealth demerger

JAMIE WILLIAMSON  |  THURSDAY, 14 MAR 2019
... prioritising the implementation of the Royal Commission's recommendations, refunding customers and remediating past issues. CBA has suspended preparations for the demerger in order to fully focus on these efforts, the group said. "CBA remains committed ...

Banks, ASIC still at war over fees-for-no-service

HARRISON WORLEY  |  TUESDAY, 12 MAR 2019
... the institutions, who stand before a potential advice remediation bill of $1.15 billion. According to ASIC's report card, CBA and the regulator have vastly differing views on a number of issues, namely the period to be covered by further reviews into ...

Super fund chief executive to retire

KANIKA SOOD  |  MONDAY, 11 MAR 2019
... retire in June end after nine years of leading Commonwealth Bank Group Super. The news was confirmed in an update shared with CBA employees last week. The fund has now commenced the search for Carmichael's replacement. Carmichael led the super fund's ...

APRA sets sights on 2019 targets

HARRISON WORLEY  |  FRIDAY, 1 MAR 2019
... stability remain at the core of APRA's objectives. But APRA's Prudential Inquiry into Commonwealth Bank of Australia (CBA) highlighted the importance of not just having a healthy balance sheet, but also strong governance, a sound culture, appropriate ...

CBA posts $4.6b in profits, dividend flat

KANIKA SOOD  |  WEDNESDAY, 6 FEB 2019
Commonwealth Bank's profits fell more than 6% to $4.6 billion in the first-half of FY19 and the bank kept its interim dividend at $2 per share. The $4.6 billion NPAT includes discontinued operations: CommInsure Life, CFSGAM and Sovereign. The cash ...

Institutions respond to Royal Commission, make commitments

HARRISON WORLEY  |  TUESDAY, 5 FEB 2019
... Bank said the Royal Commission had been valuable for all stakeholders in the financial services industry, and would result in CBA becoming a better bank. CBA chief executive Matt Comyn was praised by Hayne in the report, with the Commissioner noting ...

ASIC enforcement must get tough: Commissioner

KANIKA SOOD  |  TUESDAY, 5 FEB 2019
... charged fees for services they did not provide and the regulator filed a report in 2016. Yet ASIC accepted EUs from ANZ and CBA just days before the Royal Commission public hearings kicked off last year, and commenced civil proceedings against NAB/NULIS ...

Hayne targets superannuation employer connections

KARREN VERGARA  |  MONDAY, 4 FEB 2019
... the meeting, made or received the telephone call, or initiated the [inquiry]." He pointed to the attempts made by ANZ and CBA to sell superannuation in bank branches under a general advice scenario - which "may have contravened the law." He echoed the ...

Royal Commission to suppress bank stocks

KARREN VERGARA  |  MONDAY, 4 FEB 2019
... four banks above other major blue-chip stocks like BHP, Telstra and IAG. For example, more than half (53%) of shareholders in CBA were mum and dad investors as at March 2018. Hyperion Asset Management chief investment officer Mark Arnold says the Brisbane-based ...