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

  • Media Release

NAB partners with Plenti for secured auto/EVs and renewables lending

NAB has agreed to enter a strategic partnership with fintech lender Plenti Group Limited.

  • 28.11.2023
  • Time to read 1 min read
  • Media Release

NAB the first Aussie bank to launch digital wallet-enabled virtual corporate card

In an Australian banking first, NAB has launched a new, plastic-free, virtual corporate credit card to help businesses streamline, modernise and simplify their expenses.

  • 14.11.2023
  • Time to read 1 min read
  • Full Year Results

NAB announces 2023 Full Year Results

Releasing NAB’s 2023 Full Year Results, NAB CEO Ross McEwan said the bank and its customers were benefitting from the consistent execution of its strategy over several years.

  • 09.11.2023
  • 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.