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.
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Darryl Johnson
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INTEGRATED PORTFOLIO SOLUTIONS PTY LTD
Darryl Johnson was conned into running by a manager 15 years ago. Little did Johnson know, running would soon become his life's passion, and the lessons learnt from training and competing in ultramarathons would set him up for success in the finance world. Chloe Walker 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.