NAB welcomes ASIC action against former financial adviser



NAB today welcomed ASIC’s action against former financial adviser, Graeme Cowper.

NAB reported Mr Cowper to ASIC in January 2010, after an investigation into his conduct identified a range of concerns in relation to advice he had provided clients.

NAB Chief Customer Officer of Consumer Banking and Wealth, Andrew Hagger, said NAB remains focussed on driving improvements to ensure we continue to deliver for our customers.

“We will continue to lift the standards and performance of our people, and look for areas where we can improve,” Mr Hagger said.

“We expect our advisers to do the right thing by their customers, and we will hold individuals who don’t meet our expectations, or the expectations of our customers, to account.”

“We have policies and processes in place for very important reasons, and all advisers have a responsibility to comply with regulations, our policies and our Code of Conduct. Those who do not meet these standards will be held to account, just as Mr Cowper has been.”

NAB’s Customer Response Initiative commenced in February 2015, and was designed to ensure compensation for poor financial advice is provided in a thorough manner.

NAB has completed compensation payments to former clients of Mr Cowper, totalling $13.39 million through its Customers Response Initiative and its dispute resolution program. Mr Cowper left NAB’s employment in 2009.



Related Articles

  • Full Year Results

NAB 2021 Full Year Results

NAB Group Chief Executive Officer Ross McEwan today released NAB’s 2021 Full Year Results and Annual Review.

  • 09.11.2021
  • Time to read 1 min read
  • Announcements

Port of Newcastle Hydrogen Hub

  • 08.11.2021
  • Time to read 1 min read
  • Climate

NAB receives HRH The Prince of Wales’ Terra Carta Seal in recognition of commitment to creating a sustainable future

NAB was awarded the inaugural 2021 Terra Carta Seal by His Royal Highness the Prince of Wales at the UN Climate Change Conference (COP26) in Glasgow.

  • 04.11.2021
  • Time to read 2 min read

Quick links

National Australia Bank — NAB

Sometimes When The Unexpected Happens, We Realise What We Truly Value. Whether A Home, Farm, Business Or Your Passion, NAB Is Here To Support You.

Business Research and Insights

For more business news and analysis, visit NAB’s Business Research and Insights.