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Australia"s AMP mislead corporate watchdog for almost a decade-inquiry

SYDNEY (Reuters) - Australia's largest wealth manager AMP Ltd lied to the country's corporate watchdog for almost a decade to cover its widespread practice of charging customers for services it did not provide, an inquiry heard on Tuesday......»»

Category: topSource: reutersApr 16th, 2018

Australia"s AMP mislead corporate watchdog for almost a decade-inquiry

SYDNEY (Reuters) - Australia's largest wealth manager AMP Ltd lied to the country's corporate watchdog for almost a decade to cover its widespread practice of charging customers for services it did not provide, an inquiry heard on Tuesday......»»

Category: topSource: reutersApr 16th, 2018

Australia"s AMP misled corporate watchdog for almost a decade: inquiry hears

SYDNEY (Reuters) - Australia's largest wealth manager AMP Ltd lied to the country's corporate watchdog for almost a decade to cover its widespread practice of charging customers for services it did not provide, an inquiry heard on Tuesday......»»

Category: topSource: reutersApr 16th, 2018

Australian banking inquiry recommends new watchdog for regulators

Australia's corporate and prudential regulators must undergo regular, rigorous assessments under an independent oversight body, a powerful review of the country's banking sector recommended in its long-anticipated final report on Monday......»»

Category: topSource: reutersFeb 4th, 2019

Australia vows to clean up financial sector after landmark misconduct inquiry

Australia's corporate regulators will be subjected to a new oversight body in a shake-up of the banking sector recommended by a high-powered independent inquiry into financial sector greed and malpractice......»»

Category: topSource: reutersFeb 4th, 2019

Australia bank inquiry does not recommend individual criminal charges

A powerful public inquiry into Australia's finance industry referred 24 instances of bad corporate behavior to regulators for possible prosecution but did not suggest any individuals be criminally prosecuted in its final report released on Monday......»»

Category: topSource: reutersFeb 4th, 2019

Australia to overhaul regulators after landmark banking inquiry

Australia's corporate regulators will be subjected to a new oversight body in a shake-up of the banking sector designed to combat the excessive greed and unethical practices that have engulfed some of the country's biggest financial institutions......»»

Category: topSource: reutersFeb 4th, 2019

Australia watchdog files civil suit against ANZ over 2015 share issue

Australia's corporate watchdog sued Australia and New Zealand Banking Group Ltd on Friday over a troubled A$2.5 billion ($1.8 billion) share placement, flexing its muscle amid criticism levied at regulators for being soft on finance firms......»»

Category: topSource: reutersSep 14th, 2018

Australia vows crackdown on corporate misconduct as bank inquiry claims AMP scalp

Australia vows crackdown on corporate misconduct as bank inquiry claims AMP scalp.....»»

Category: topSource: reutersApr 20th, 2018

Australian bank charges dead client service fee for a decade

An Australian government inquiry has heard that financial advisers working for Australia's largest bank continued charging clients service fees after they died — in one case for more than a decade......»»

Category: topSource: foxnewsApr 19th, 2018

South Korean watchdog cuts fine on Qualcomm after decade-old legal battle

South Korea's antitrust regulator has lowered a decade-old penalty imposed on U.S. chipmaker Qualcomm Inc by 18 percent to $200 million, the Korea Fair Trade Commission (KFTC) said on Thursday......»»

Category: topSource: reutersMar 20th, 2019

Exclusive: Indian antitrust watchdog raids Glencore business, others over pulse prices - sources

India's antitrust watchdog raided units of global commodities trader Glencore and two other firms in Mumbai on Saturday in an inquiry into alleged collusion on the price of pulses, four sources with knowledge of the raids told Reuters......»»

Category: topSource: reutersMar 16th, 2019

Gap Finally Gets It — Spin-Off of Old Navy Heading Your Way

It’s finally happening, and so what if the news feels a decade late. Gap Inc. (NYSE: GPS) announced along with its earnings that the company is breaking up its corporate structure and will........»»

Category: blogSource: 247wallstFeb 28th, 2019

Australia to Target Google and Facebook to Protect Local Industry

The head of Australia’s competition watchdog warned Monday that tough new regulation of tech giants like Google and Facebook was needed to protect the future of independent journalism. Rod Sims, chairman of the Australian Compe.....»»

Category: topSource: livetradingnewsFeb 11th, 2019

Australian sovereign fund criticizes NAB"s leadership change

The head of Australia's sovereign wealth fund criticized National Australia Bank Ltd on Monday for the double resignation of its CEO and chairman after a misconduct inquiry, saying it was "not good practice" for both to go at once......»»

Category: topSource: reutersFeb 10th, 2019

Australia"s bruised big banks offered respite in inquiry wash-up

After a year of bruising interrogation, Australia's oligopoly banking system has emerged from a government-appointed inquiry with reputations tarnished and some top executives removed - but also an unexpected opportunity to rebuild......»»

Category: topSource: reutersFeb 8th, 2019

NAB CEO, chairman to quit after scathing misconduct inquiry report

The chief executive and chairman of Australia's fourth-largest bank NAB are quitting, the biggest scalps following a major inquiry that leveled blistering criticism at the country's financial sector for widespread misconduct. Francesca Lynagh reports......»»

Category: videoSource: reutersFeb 7th, 2019

Loose money era leaves trail of U.S. corporate debt junkies

Many U.S. companies that gorged on cheap debt with forgiving terms over the last decade now find themselves shackled by it, spending much of their earnings paying off lenders rather than investing in their businesses or hiring......»»

Category: topSource: reutersFeb 5th, 2019

Australia: S&P/ASX 200 (.AXJO) investors just got the final piece of a 13-month inquiry into the rampant misconduct at the nation’s biggest banks and financial firms

Australia: S&P/ASX 200 (.AXJO) investors just got the f.....»»

Category: topSource: livetradingnewsFeb 4th, 2019

Nissan says it’s ‘cooperating fully’ with inquiry by US Securities and Exchange Commission

The statement followed reports by both Japanese and foreign media that the U.S. financial markets watchdog was considering investigating Nissan over its pay to executives in the United States.      .....»»

Category: topSource: usatodayJan 28th, 2019

Western Australia claims BHP owes up to $215 million in underpaid iron ore royalties

The state of Western Australia said on Monday an audit had found global miner BHP Group underpaid royalties on iron ore shipments sold via its Singapore marketing hub stretching back over more than a decade......»»

Category: topSource: reutersJan 21st, 2019