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0.General, 1.Market Observations, 2.financial advice

25 Aug 2014 (AFR) – Macquarie dodgy advice scandal forces rethink of banking model

(25 August 2014, AFR, p19, Sally Patten)

‘The community is so angered by the endless string of advice scandals.’

‘Financial advice. Where to start? After an extraordinary few weeks, during which it was revealed that Macquarie Group was writing letters to thousands of customers who may have received dodgy advice, the corporate regulator slapped Commonwealth Bank of Australia with new licence conditions and the chairman of the Financial System Inquiry raised concerns about the structure of the planning industry, it is hard to know where to begin a critique.’

Read more at AFR.com (might need AFR login access)

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