Financial Standard Comments - Federal Court imposes $4m penalty on industry fund The Federal Court has imposed combined penalties of $4 million on Statewide Super for providing members with misleading information regarding their insurance and failing to report the issue to ASIC in the time required. https://www.financialstandard.com.au/feed/latest?story=179791232 Tue, 18 Jan 2022 13:44:31 +1100 Tue, 18 Jan 2022 13:44:31 +1100 en-AU Copyright 2026 Financial Standard 5 Comment by Lindsay Oxlad (Lindsay Oxlad Consultant)

Disappointing to see Statewide Super, its staff and members suffering the repetitional damage caused by a shortcoming in governance and risk management. A great fund with an unblemished record, a sad day for the thousands of loyal members and employers. A wakeup call for the fund as it merges with HostPlus.

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]]> Lindsay Oxlad (Lindsay Oxlad Consultant) Tue, 18 Jan 2022 13:44:31 +1100