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ASIC
Superannuation
ASIC has sued the trustee of AustralianSuper, alleging failures by the fund to address 90,000 multiple member accounts for a decade at a cost to members of $69 million....
Superannuation
Parliament has passed the Financial Accountability Regime, a recommendation from the Hayne royal commission, which will impose stronger accountability on super trustees....
Financial advice
ASIC has commenced “urgent proceedings” in the Federal Court of a former Sydney financial adviser regarding fees charged to clients' superannuation....
Superannuation
The regulator failed to overturn a Federal Court finding that the Commonwealth Bank of Australia and Colonial First State did not receive “conflicted remuneration” benefi...
Expert Analysis
A joint APRA-ASIC report has taken aim at super funds’ Retirement Income Covenant strategies. The answers involve a tech upgrade to offer more tailored support, says Andr...
Superannuation
The corporate regulator has commenced its third civil penalty proceedings for alleged greenwashing, with the super fund holding investments in Russia when it had listed i...
Superannuation
With three-quarters of Australians viewing data breaches as one of the biggest privacy risks today, the amount of data requested and handled by their super fund remains a...
Superannuation
APRA is worried that it “cannot be confident” that super fund trustees are adequately implementing the Retirement Income Covenant, and work is needed on three key areas....
Superannuation
ASIC has revealed the number of its enforcement outcomes that related to superannuation misconduct in the first half of 2023, including its first interim stop orders....
SMSF
The corporate regulator has taken civil action against an unlicensed director for offering clients at least 25 unregistered property investment opportunities either perso...
Superannuation
Two unions and the Australian Council on Trade Unions have been formally warned by ASIC that its member communication around three super funds need to avoid breaching fin...
Insurance
The regulator has reached out to the Insurance Council of Australia, Council of Australian Life Insurers, and Financial Services Council about its review of over 100 TMDs...
From my perspective, 40- 50% of people are likely going to be deeply unhappy about how long they actually live. ...
Super director remuneration ...
No doubt true, but most of it is still because over 45’s have been upgrading their houses with 30 year mortgages. Money ...