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Jon-Paul Hale

The week that was

Monday 1st of October 2018

The ongoing news from Australia and the Royal Commission,  close to home with the IFSO verdict on an adviser's conduct, and AFA's conduct censured by FDAC.

Starting with the Royal Commission while I’m sure there are examples of some of the things raised in the Royal Commission happening here, I’m stunned by the sheer magnitude and volume of the situations reported.

All of the financial providers there have been impacted, however, picking on the CBA group, having worked for them in the past, has been a stunning shock of contrast between the New Zealand operation and the conduct of the parent in Aussie.

Last year we had the CBA admit to 51,000 violations of the AML rules concerning the deposit takings of their ATMs.

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