Remediation costs for Australia’s scandal plagued wealth mangers could more than double to $6b from current provisions
The modelling from Macquarie analysts is based on a figure of $750,000 remediation cost per advisor, dervived from Westpac’s experience
The biggest upgrades in provisions are expected to be made by AMP, ANZ and IOOF
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Report says mine sites may not be able to be successfully rehabilitated and warns of ‘big liabilities’