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Showing 131 - 140 of 287 results for "Product Disclosure Statement"

Fee error forces Ausbil to pay $18m

LAURA MILLAN  |  WEDNESDAY, 5 AUG 2015
... 2004 and January 2014. The manager found an inconsistency between the fees outlined in the fund's Product Disclosure Statement and the fees permitted under the fund's constitution. Ausbil notified ASIC as soon as it was aware of the breach and it has ...

ASIC issues digital disclosure guidance

ALEX DUNNIN  |  TUESDAY, 28 JUL 2015
ASIC has issued a new digital disclosure guidance for financial services product providers who want to step up their use of the internet to deliver offer documents, disclosures and personal statements to clients. Under the new guidance, product providers ...

Queensland director banned for two years

DARREN SNYDER  |  FRIDAY, 10 JUL 2015
The Australian Securities and Investments Commission (ASIC) has banned a Queensland company director from providing financial services for two years after failing to ensure the company complied as a Responsible Entity under the Corporations Act. Between ...

Macquarie refunds $5.5m after 13-year system errors

ALEX BURKE  |  WEDNESDAY, 17 JUN 2015
Macquarie Investment Management will refund $5.5 million to 2,300 clients after system errors between 2001 and 2014 led to miscalculated fees. The errors occurred in the Macquarie Wrap platform and included charging fees over the maximum amount in product ...

Australian Unity to list office property fund

DARREN SNYDER  |  TUESDAY, 16 JUN 2015
... making bi-annual capped withdrawal offers," Pratt said. "Until the proposal is finalised, the fund's product disclosure statement has been temporarily withdrawn. This means that new applications cannot be made but the distribution reinvestment plan will ...

PROFILE: IOOF managing director Chris Kelaher

LAURA MILLAN  |  WEDNESDAY, 3 JUN 2015
IOOF managing director Chris Kelaher's trajectory has awarded him the labels of serial acquirer and M&A veteran. He has been behind the takeover of 30 companies in the last decade alone. But Kelaher's career in financial services started far away from ...

APRA releases super reporting standards

DARREN SNYDER  |  WEDNESDAY, 29 APR 2015
The Australian Prudential Regulation Authority (APRA) has released 31 reporting standards for the superannuation industry, five of which are still open for further consultation. The final reporting standards will commence on 30 June or 1 July and changes ...

Small cap fund opens to retail investors

LAURA MILLAN  |  FRIDAY, 24 APR 2015
... Opportunities Fund is now open to a wider range of retail investors after the manager developed a product disclosure statement (PDS) for the fund. Managed by Phoenix Portfolios, the fund launched in 2011 with seed capital from Cromwell. At the time ...

ASFA supports ASIC electronic disclosure consultation

ALEX BURKE  |  THURSDAY, 22 JAN 2015
The Association of Super Funds Australia (ASFA) has expressed its support for the ideas discussed in ASIC Consultation Paper 224 - Facilitating electronic financial services disclosures. It argued that ASIC facilitating electronic disclosure will assist ...

Astarra director banned, loses AAT appeal

LAURA MILLAN  |  MONDAY, 3 NOV 2014
... mislead investors. Liu was involved in issuing incorrect statements in the Astarra Strategic Fund (ASF) Product Disclosure Statement. He also received more than $388,041 in payments outside his salary as a reward for his involvement in the investment ...