Financial institutions / Big five & fintech (1,302 items)

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Banks get three years to reset sales incentives

Australia's banking sector needs "a sharp break with the past", wrote Stephen Sedgwick in his review of the industry's pay practices. But sharp does not mean short, with Sedgwick suggesting a three-year time frame for reform and a follow-up review in 2020. read more

Sedgwick red lights broker commissions

A ban on accelerator reward payments and a shift to a fee-for-service payment model, funded by the banks, are highlights of Stephen Sedgwick's year-long review of retail banking remuneration. A long preview today in the AFR's Chanticleer column has Sedgwick's final recommendations. read more

Briefs: Ramsay EDR review done, Walter on advice watch, Medcraft digs bank crowd challenge and more

A panel headed by Professor Ian Ramsay into external dispute resolution schemes, including the Financial Ombudsman Service, the Superannuation Complaints Tribunal and the Credit and Investments Ombudsman, has handed its final report to the Australian government.Andt he Australian government has appointed Cathy Walter (pictured) as the chair of a new body set up to "professionalise" the financial advice sector. read more

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