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Showing 21 - 30 of 326 results for "Supreme Court"

Hostplus hits members with new fee

ELIZABETH MCARTHUR  |  THURSDAY, 10 FEB 2022
Hostplus introduced a new trustee fee, after receiving Supreme Court approval to apply the fee to create emergency reserves. The amount will vary based on members' balances, but a Hostplus member with $50,000 in savings can expect to be charged an extra ...

Economics Committee to examine rainy day funds

CHLOE WALKER  |  TUESDAY, 8 FEB 2022
... funds seeking judicial opinions to contravene this provision." One example of this is Cbus making a request to the Supreme Court to allow it to change its rules and create a pool that pays for future fines. Other funds including Active Super, CareSuper ...

Class chief exits following takeover

KARREN VERGARA  |  TUESDAY, 8 FEB 2022
... driven organisation." He added that Class is now well positioned for further growth and development under HUB24. The Supreme Court of New South Wales approved HUB24's takeover of Class via a scheme of arrangement on February 4. HUB24 initially offered ...

Hume throws shade at trustee rainy day funds

KARREN VERGARA  |  MONDAY, 22 NOV 2021
... permission to charge members a new fee that builds a financial contingency reserve. Cbus recently made a request to the Supreme Court to allow it to change its rules and create a pool that pays for future fines. Hume told an AFR conference that she is ...

Cbus to create rainy day fund to cover fines

ELIZABETH MCARTHUR  |  THURSDAY, 11 NOV 2021
Despite not currently facing any fines or penalties, Cbus has made a request to the Supreme Court for permission to change its rules to create a special pool of capital to pay any future fines. Following changes to the Superannuation Industry (Supervision) ...

IOOF licensees to take remedial action

JAMIE WILLIAMSON  |  MONDAY, 26 APR 2021
... IOOF and its subsidiaries. Earlier this year subsidiary Australian Executor Trustees lost its appeal against a 2019 Supreme Court decision in the S.E.A.S. Sapfor Forests case. In February ASIC was ordered into mediation with RI Advice and former adviser ...

Goldsky director charged

ELIZABETH MCARTHUR  |  TUESDAY, 13 APR 2021
... with Goldsky in 2018 and receivers were appointed to wind up the Goldsky companies. Then in 2019, the Queensland Supreme Court declared Goldsky had breached the Corporations Act by operating a financial services business without an Australian Financial ...

NAB MySuper class action heads to Federal Court

JAMIE WILLIAMSON  |  MONDAY, 12 APR 2021
... breaching their duties by delaying the transition of accounts to cheaper MySuper products. On 18 December 2020, the Supreme Court of Victoria ruled the case invalid. A spokesperson for Maurice Blackburn confirmed the case has now been filed in the Federal ...

IOOF subsidiary loses appeal

ANNABELLE DICKSON  |  FRIDAY, 5 FEB 2021
... Australian Executor Trustees (SA) Limited. The Court of Appeal dismissed AET's appeal against a decision made by the Supreme Court of New South Wales in 2019 in the S.E.A.S Sapfor Forests Pty Ltd case. AET was appointed as trustee of the S.E.A.S ...

AFCA forced into rule change

ELIZABETH MCARTHUR  |  FRIDAY, 22 JAN 2021
... forced into a rule change regarding its jurisdiction over authorised representatives after a court decision. The NSW Supreme Court ruled in the case of DH Flinders v Australian Financial Complaints Authority that AFCA's rules regarding its jurisdiction ...