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Showing 1451 - 1460 of 3210 results for "Scheme"

Discriminatory bank regulation hits super savings

JAMIE WILLIAMSON  |  WEDNESDAY, 22 AUG 2018
... members as unstable, the research said. Meanwhile, retail deposits like those from SMSFs are covered by the Financial Claims Scheme (FCS) and thereby treated as stable. This is further compounded by the Net Stable Funding Ratio and the Major Bank Levy. ...

Federal Court rules partly in favour of DomaCom

HARRISON WORLEY  |  TUESDAY, 14 AUG 2018
... rules in the SIS Act when the daughter of a member of the fund rented a property held by the DomaCom Burwood sub-fund, a scheme the SMSF had invested in. According to court documents, the member of the fund (who is employed as a state manager at DomaCom) ...

Financial crime taskforce puts two behind bars

KARREN VERGARA  |  MONDAY, 13 AUG 2018
The Serious and Financial Crimes Taskforce has helped put two men behind bars for laundering money and evading tax. Anthony Castagna and Robert Agius, both from New South Wales, were sentenced to seven years' imprisonment each. The pair used an ...

IOOF executives dismiss conflicts of interest

KARREN VERGARA  |  FRIDAY, 10 AUG 2018
IOOF left some superannuation members in expensive legacy products despite board members recognising conflicts of interest existed in choosing to boost revenues over meeting "community expectations." The financial services Royal Commission continued ...

AMP wealth arm leaked $873 million in first half

KANIKA SOOD  |  WEDNESDAY, 8 AUG 2018
AMP's wealth management arm, which includes its superannuation and platform products, saw net outflows of $873 million in the first half of 2018. By comparison, it had recorded net inflows of more than $1 billion in first half of last year. AMP's North ...

Royal Commission revisits fees for no service

KARREN VERGARA  |  MONDAY, 6 AUG 2018
... members charged for fees for no service that related to an acquisition. In 2016, the trustee of First State Superannuation Scheme acquired State Super Financial Services Australia Limited - the trustee of StatePlus Super. Following a review of StatePlus' ...

HESTA boss wins FEAL award

HARRISON WORLEY  |  FRIDAY, 3 AUG 2018
... commitment to advocacy in the industry. "Debby is dedicated to delivering positive differences for the financial futures of her scheme's members, as well as driving positive change in the industry as a whole," Davison said. "Alongside successfully leading ...

ASIC provides guidance on Asia Funds Passport

KARREN VERGARA  |  WEDNESDAY, 1 AUG 2018
ASIC has updated its regulatory guides to reflect changes from the Asia Region Funds Passport bill that was recently passed. On June 28, the Federal Government passed the Corporations Amendment (Asia Region Funds Passport) Bill 2018 in an effort to ...

ASIC unveils RG97 review

KARREN VERGARA  |  TUESDAY, 24 JUL 2018
ASIC has welcomed an independent report proposing 34 changes to fee transparency for superannuation funds and managed investments under Regulatory Guide 97. The report, prepared by managed investments and super regulation veteran Darren McShane, engaged ...

Tenders on the menu for UK pension schemes

HARRISON WORLEY  |  TUESDAY, 24 JUL 2018
The UK competition regulator is proposing regulatory changes designed to ensure pension schemes pressure the market into providing the best value for members. The Competition and Markets Authority (CMA) is concerned competition problems exist within ...