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Showing 141 - 150 of 326 results for "SIS"

Federal Court delivers APRA, IOOF verdict

JAMIE WILLIAMSON  |  FRIDAY, 20 SEP 2019
... individuals the regulator sought to have disqualified, including former managing director Chris Kelaher, did not contravene the SIS Act. The Federal Court also awarded costs in IOOF's favour. Australian Executor Trustees was also subject to the legal ...

Pension fund joins action against Facebook

KRISTI CHENG  |  FRIDAY, 23 AUG 2019
The California State Teachers' Retirement System has joined a derivatives case against Facebook in regards to Cambridge Analytica. The litigation at hand is a pending derivative lawsuit against Facebook's leadership, including the social media company's ...

IOOF establishes super trustee office

HARRISON WORLEY  |  WEDNESDAY, 21 AUG 2019
... exercised its newly vested powers and directed IOOF to implement and maintain the OST or risk facing a financial penalty under the SIS Act. Recently appointed IOOF chief executive Renato Mota said the wealth manager had been working "diligently" to implement ...

Associations raise member outcomes concern

KARREN VERGARA  |  FRIDAY, 21 JUN 2019
... financial needs are being met, AIST said. Industry Superannuation Australia echoed the AIST's concerns. Amendments to the SIS Act means the "pre-emptive release" of draft SPS 515 does not accurately reflect the new law and requires revision; it also ...

Wills and BDBN raise adviser interest

KARREN VERGARA  |  FRIDAY, 7 JUN 2019
... still offer greater planning opportunities and flexibilities that's not available in large super funds," she said. The SIS Act allows the executor or administrator of the estate to act as trustee on behalf of deceased member, she said, but this is ...

Chief economist update: It'll hurt me more than it hurts you

BENJAMIN ONG  |  FRIDAY, 24 MAY 2019
If very, very recent history is any guide, US President Donald Trump would soon be tempering his trade war tweets versus China. Trump did so early this year - prompting financial markets and economic and business agents to expect that a trade deal is ...

APRA flexes new muscles

HARRISON WORLEY  |  WEDNESDAY, 22 MAY 2019
... Executor Trustees (AET) have now been ordered by APRA to set up the OST by 30 June, or risk facing a financial penalty under the SIS Act. Today, the prudential regulator recognised IOOF has made progress towards meeting its license conditions, but said ...

Advisers agree on fair salary: Poll

KARREN VERGARA  |  MONDAY, 6 MAY 2019
Salary ranging from $75,000 to $95,000 that is inclusive of superannuation is fair compensation for a financial adviser with less than five years' experience, a new poll from Financial Standard 's sister publication FS Advice shows. About one ...

Superannuation mergers strike oligopoly fears

KARREN VERGARA  |  TUESDAY, 23 APR 2019
... out poor performers, and impose civil and criminal consequences if trustees and directors breach sections 52 and 52A of the SIS Act. "In some instances, acting in the best interests of members will require underperforming funds to merge or exit the industry. ...

Government bans superannuation funds treating employers

KARREN VERGARA  |  WEDNESDAY, 10 APR 2019
... Commission, questioning its annual $260,000 spend on hosting employers at the Australian Open Tennis. Hayne said Section 68A of the SIS Act does not go far enough in preventing "treating" employers and called for the Act to be amended to include a civil ...