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Showing 31 - 40 of 63 results for "NULIS"

ASIC flags post-RC criminal prosecutions

JAMIE WILLIAMSON  |  WEDNESDAY, 20 FEB 2019
... studies to determine whether an investigation is required. This is in addition to the actions already commenced against NAB's Nulis and MLC, as well as Dover Financial Advisers and Terry McMaster. Aside from the Royal Commission case studies, ASIC is ...

NAB calls trading halt

KARREN VERGARA  |  THURSDAY, 7 FEB 2019
... he played down the seriousness of the fees-for-no-service issue. Nicole Smith, who is the former chair of NAB subsidiary NULIS Nominees, left the group shortly before she was due to appear before the Commission. Smith resigned in June 2018 and was replaced ...

ASIC enforcement must get tough: Commissioner

KANIKA SOOD  |  TUESDAY, 5 FEB 2019
... just days before the Royal Commission public hearings kicked off last year, and commenced civil proceedings against NAB/NULIS Nominees in September. "Despite ASIC's investigation, the evidence led in the Commission showed that some entities may have ...

ASIC permanently bans former Apogee adviser

KARREN VERGARA  |  TUESDAY, 18 DEC 2018
... obtaining funds between $1000 and $28,000 from client superannuation accounts. This amounted to $1.4 million taken from Nulis Nominees (the trustee of the MLC Super Fund) that Saad rebated back to clients. In March 2017, Apogee and Nulis first identified ...

Aussie funds among the world's largest asset owners

KANIKA SOOD  |  MONDAY, 12 NOV 2018
... ranked 86th; TCorp ranked 92nd and QSuper secured 97th place. Master trusts and outsourced CIO models like NAB/MLC's Nulis Nominees came in at 76th with nearly $104 billion; BT Funds Management is in 87th spot with about $93 billion; Colonial First ...

NAB signals more bad advice remediation

KARREN VERGARA  |  THURSDAY, 1 NOV 2018
... this matter remain uncertain," NAB said. In addition, ASIC commenced Federal Court proceedings on 6 September 2018 against NULIS Nominees and MLC Nominees in relation to PSF. NAB has factored the outcome of this event as a contingent liability but what ...

MLC, NULIS in court over $100m in illegitimate fees

JAMIE WILLIAMSON  |  THURSDAY, 6 SEP 2018
ASIC commenced Federal Court action against MLC Nominees and NULIS today in relation to the significant advice fees charged to superannuation members despite no financial advice being provided. ASIC alleges NULIS and MLC Nominees - the current and former ...

Retail super funds reject MySuper delays

KARREN VERGARA  |  TUESDAY, 4 SEP 2018
... adviser. NAB/MLC's PSF compensation figure reached $87.1m, jumping from the $67.1m it originally reported in July. Former NULIS Nominees chair Nicole Smith, the trustee for MLC's super funds, told Hayne PSFs deducted from members NAB wasn't entitled ...

Retail super funds in hot water: Royal Commission

KARREN VERGARA  |  MONDAY, 27 AUG 2018
... document. Counsel assisting Michael Hodge said it is open to Commissioner Kenneth Hayne to find that NAB and its two trustees, Nulis Nominees and MLC Nominees, breached the Corporations Act and Superannuation Industry Act with respect to plan service ...

Super funds cop governance grilling

HARRISON WORLEY  |  TUESDAY, 21 AUG 2018
... service fees for access to a financial adviser which was never properly linked to their account, NAB superannuation trustee NULIS Nominees was questioned as to whether it was governing funds in the best interest of its members. Counsel assisting Michael ...