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Showing 91 - 100 of 286 results for "Product Disclosure Statement"

The PDS is weak: Rice Warner

ELIZABETH MCARTHUR  |  MONDAY, 3 FEB 2020
New insights from Rice Warner claim product disclosure statements are weak in their ability to actually inform or protect consumers. Last year's report from ASIC on the matter said: "The over-reliance on disclosure in some ways proved an enabler of ...

New super fund targets millennials

ELIZABETH MCARTHUR  |  TUESDAY, 21 JAN 2020
... Management and Alphinity. Aracon Superannuation is the trustee. Rainmaker analysis of the Elevate product disclosure statement indicated product fees and total expense ratio are above the Rainmaker benchmark of 1.19% on a $50,000 balance for a personal ...

ASIC launches action against AFSL, director

ELIZA BAVIN  |  WEDNESDAY, 11 DEC 2019
ASIC has commenced action in the Federal Court in Western Australia focused on the promotion and management of the Sterling Income Trust. The regulator said the action is against Theta Asset Management, an Australian financial services licensee and ...

Industry fund cuts fees

HARRISON WORLEY  |  FRIDAY, 6 DEC 2019
... sponsored members, dropping from 0.76% to 0.65% as of December 1. According to First State's product disclosure statement, members in the option - which acts as the default for those over the age of 60 - will see their fees drop by $55 a year on ...

Super fund PDSs to include single cost of product figure

HARRISON WORLEY  |  FRIDAY, 29 NOV 2019
ASIC has updated its guidance to superannuation funds and issuers of managed investment products on fees and cost disclosure, with a suite of new requirements set to apply from late-2020. The corporate regulator released an updated version of Regulatory ...

Don't over-interpret OECD super fee figures

HARRISON WORLEY  |  FRIDAY, 29 NOV 2019
Rainmaker's research head is calling for the superannuation industry to avoid over-interpreting OECD figures indicating Australia's retirement saving system is cheap, as debate breaks out. Alex Dunnin, Rainmaker executive director of research and compliance ...

CommInsure enters guilty plea

ELIZA BAVIN  |  TUESDAY, 19 NOV 2019
... requirement to offer the customer the option of having the information required to be included in the Product Disclosure Statement (PDS) for Simple Life read to them prior to the offer or issue to sell the product. In 14 of the 87 calls charged, CommInsure ...

Adviser stole $200k from SMSFs

ELIZABETH MCARTHUR  |  TUESDAY, 6 AUG 2019
The Australian Securities and Investments Commission (ASIC) permanently banned a former financial adviser who stole more than $200,000 from client self-managed superannuation funds. Robert Michael of Bentleigh, Victoria has been permanently banned from ...

BetaShares launches FTSE 100 ETF

KANIKA SOOD  |  TUESDAY, 16 JUL 2019
... AUD value of the assets will increase or decrease with exchange rate fluctuations, according to the product disclosure statement. BetaShares is now the third-largest ETF issuer in Australia, behind Vanguard and BlackRock and ahead of State Street. For ...

PDS should reflect PYSP changes: ASIC

KARREN VERGARA  |  MONDAY, 24 JUN 2019
ASIC is reminding superannuation funds to update product disclosure statements to disclose exit fees will no longer be charged under the 1 July 2019 changes. ASIC has amended Class Order 14/1252 to align with the Treasury Laws Amendment (Protecting ...