In further testimony to the so-called Royal Commission on Wednesday, AMP executives admitted that it had charged users of online platforms for advice fees despite not receiving the permission required by law.
As a key element in Malaysia’s offering in Islamic financial services, Labuan IBFC’s leadership in Islamic finance is entrenched, and as home to the world’s first Sukuk, the jurisdiction continues to innovate in the space of Islamic fina
Their eventual buyers could alter the face of the Pakistani banking system. Who has the cash, knowledge, and desire to pull this off?
Westpac was somewhat slower to get on board, but in 2002 it snapped up Rothschild's local funds management business for $323 million, and then forked out $900 million to buy most of BT Financial Group.
ASIC found the advice firms failed to provide, or failed to locate evidence regarding the provision of, annual reviews to the customers.
The scam, which reportedly began in 2011, was detected in the third week of January this year, after which the PNB officials reported it to the concerned agencies
The central bank is working with key financial industry stakeholders, including banks, insurers and asset managers, on the guide, which will be ready by the end of the year.
Tucker, who took over as chairman last October, has already cut the lender’s board from over 20 people down to 14