Final ASIC update: Compensation for financial advice related misconduct as at 31 December 2022
Six of Australia’s largest banking and financial services institutions have paid or offered a total of $4.7 billion in compensation, as at 31 December 2022, to customers who suffered loss or detriment because of fees for no service misconduct or non-compliant advice. This includes $1.1 billion paid or offered by the institutions between 1 July …
