Federal Court imposes $4m penalty on industry fundBY CHLOE WALKER | TUESDAY, 18 JAN 2022 12:51PMThe 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. Related News |
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David Woodall
CHIEF EXECUTIVE OFFICER, SUPERANNUATION
INSIGNIA FINANCIAL LTD
INSIGNIA FINANCIAL LTD
Facing his greatest test yet in metamorphosing MLC Super, Dave Woodall is adamant the juice will be worth the squeeze. Jamie Williamson writes.
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.