News in brief: ANZ refunds $28.8m to customers

by NZ Adviser07 Sep 2016
ANZ refunds $28.8m to customers
ANZ has begun refunding $28.8million to over 390,000 accounts, according to the NZ Herald.

After the bank realised it had failed to disclose when some fee payments would apply, it informed the matter to the Australian Securities and Investments Commission (ASIC) as a "significant breach" of its financial services obligation. 

ANZ has since apologised to the affected customers, which includes 376,570 retail account holders and 17,230 business accounts holders.

AMP supports Money Week
This week is Money Week and showing its support, AMP has released a series of educational “Money Tip” videos on its website to complement the range of information and tools available online to help Kiwis plan and achieve the retirement they deserve.

Also, through Perpetual Guardian, AMP KiwiSaver Scheme members with a balance of more than $15,000 can take up a special offer to have a Will created free-of-charge to ensure their hard earned assets go to loved ones in times of need. 

AMP’s Chief Customer Officer, Jeff Ruscoe, says, “AMP supports Money Week because it encourages people to think about how much their retirement will cost and what they need to do to achieve the retirement they deserve. It’s never too early to start planning and saving for retirement, and one of the best ways to get ahead is by making a financial plan and sticking to it – for most Kiwis that would include making regular contributions to KiwiSaver.”

PwC New Zealand appoints new chair
PwC New Zealand partner and national assurance leader, Michele Embling has been appointed chair of the New Zealand firm for the next four years, effective 1 October 2016. 

A Partner at the firm for 11 years and a member of the executive team for four, Embling has been almost 16 years at the firm. 

CEO and senior partner Bruce Hassall, said “It is a pleasure to welcome Michele as our next Chair. Michele has led our Assurance practice for the past three years and has a successful track record of leading transformation projects. She is widely respected in the market for her ability to influence and bring people together.” 

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