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6 ASX giants pay $1 billion for ripping off customers – Motley Fool Australia
How much compensation AMP, CBA, Westpac, NAB, ANZ, and Macquarie are paying for their fee-for-no-service and non-compliant advice sins.
Six of the largest ASX-listed companies have now dished up $1.05 billion of compensation to ripped-off financial advice customers.
AMP Limited (ASX: AMP), Commonwealth Bank of Australia (ASX: CBA), Westpac Banking Corp (ASX: WBC), National Australia Bank Ltd (ASX: NAB), Australia and New Zealand Banking GrpLtd (ASX: ANZ), and Macquarie Group Ltd (ASX: MQG) were forced to compensate financial advice clients for 2 violations.
An Australian Securities and Investments Commission investigation had …
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