ASIC update: Compensation for financial advice related misconduct as at 30 June 2022 miragenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from miragenews.com Daily Mail and Mail on Sunday newspapers.
<p><span>Six of Australia s largest banking and financial services institutions have paid or offered a total of $3.6 billion in compensation, as at 30 June 2022, to customers who suffered loss or detriment because of </span><span>fees for no service</span><span> misconduct or </span><span>non-compliant advice</span><span>.</span></p>
Following the sudden departure of Matthew Rowe in February, the financial advice group has named its new chief executive while also naming a new chief financial and operating officer.