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 |
Editor's Choice
Fidelity to roll out more active ETFs
|The fund manager is looking to significantly boost its local lineup of active ETFs.
Prime Super finds new chief executive
|Prime Super has appointed former Zurich chief of business transformation Raeline Seales as its new chief executive.
Performance test needs better metrics, durability
|The superannuation performance test has several shortcomings that must be addressed in Treasury's latest round of consultation so it is fair and sustainable, the Actuaries Institute Summit heard.
Charles River appoints new head of APAC
|The State Street-owned company will welcome a new head of Asia Pacific.
Products
Featured Profile
Robert De Dominicis
CHIEF EXECUTIVE OFFICER
GBST HOLDINGS LIMITED
GBST HOLDINGS LIMITED
It was during a family sojourn to the seaside town of Pescara, Italy, Rob DeDominicis first laid eyes on what would become the harbinger of his future. Andrew McKean 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.