NAB welcomes ASIC action against former financial adviser

Share

Share

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.

Announcements

SEE ALL TOPICS

Related Articles

  • Technology

NAB and Amazon launch PayTo® payment for Amazon.com.au customers

Customers shopping on Amazon.com.au can now use ‘PayTo’ to make a purchase directly from their bank account in a seamless, secure way, removing the need to provide card details.

  • 31.01.2025
  • Time to read 2 min read
  • Economy

NAB’s Chair and CEO address shareholders at the 2024 AGM

NAB Chair Philip Chronican and CEO Andrew Irvine addressed shareholders at NAB’s 2024 Annual General Meeting (AGM) in Melbourne today.

  • 18.12.2024
  • Time to read 1 min read
  • Announcements

NAB announces sale of remaining 20% stake in MLC Life Insurance

NAB has today announced it has entered into an agreement to sell its remaining stake in MLC Life Insurance to Nippon Life Insurance Company for $500 million.

  • 11.12.2024
  • Time to read 1 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.