Fraser review challenges super board independenceBY DARREN SNYDER | FRIDAY, 17 FEB 2017 12:47PM
The Bernie Fraser review of industry superannuation fund governance puts the onus of proof back on the government to demonstrate that one-third independent boards are the best way forward.Read more: AIST, Bernie Fraser, ASX Corporate Governance, Australian Institute of Superannuation Trustees, Federal Minister for Revenue, Financial Services, ISA, Kelly O'Dwyer, OECD, Superannuation Legislation Amendment Trustee Governance Bill, Tom Garcia
In light of the Royal Commission, the Turnbull Government has increased criminal and civil penalties for corporate misconduct and boosted ASIC's surveillance powers.
Powerwrap has confirmed it recently completed a pre-IPO capital raise to the tune of $7.5 million.
Two Blue Sky funds have been rated "unapproved" and "low investment grade" by SQM Research after the manager conceded it had fallen short of shareholder expectations.
The financial advice industry is grappling with a sales culture mentality and is only at the "cusp" of being a "true profession," this morning's session of the Royal Commission has revealed.
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