Search ResultsShowing 1 - 10 of 36 results for "NULIS"
MLC faces class action over adviser fees
ELIZABETH MCARTHUR  |  WEDNESDAY, 10 JUL 2019
IMF Bentham and William Roberts Lawyers will bring a class action against MLC's super fund trustee NULIS Nominees relating to excess fees charged to members for adviser commissions. IMF Bentham and William Roberts will allege NULIS breached its ...
Former NAB adviser charged
JAMIE WILLIAMSON  |  TUESDAY, 23 APR 2019
... deception. It is alleged that between March 2016 and December 2016 Eung netted $166,500 from accounts held with MLC and Nulis Nominees despite the account holders not authorising the withdrawals. Eung was a licensed by NAB from May 2015 to December ...
KPMG expands advice remediation team
HARRISON WORLEY  |  TUESDAY, 26 FEB 2019
... had passed $250 million and could reach $850 million. This includes includes more than $100 million for NAB and NULIS after its plan service fee debacle was revealed during Royal Commission public hearings. Earlier this month Commonwealth ...
ASIC flags post-RC criminal prosecutions
JAMIE WILLIAMSON  |  WEDNESDAY, 20 FEB 2019
... 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
... 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 ...
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 ...
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 ...
Aussie funds among the world's largest asset owners
KANIKA SOOD  |  MONDAY, 12 NOV 2018
... 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 ...
NAB signals more bad advice remediation
KARREN VERGARA  |  THURSDAY, 1 NOV 2018
... 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 ...
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 ...
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