Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 141 - 150 of 4469 results for "Trustee"

Equity Trustees to ask Mulino for help amid First Guardian, Shield fallout

JAMIE WILLIAMSON  |  THURSDAY, 30 OCT 2025
... Shield Master Fund. It's estimated about $73 million was lost by Shield investors, while members of super funds ETSL is trustee of have lost about $70 million through First Guardian. He said ETSL is preparing an application to minister of financial ...

Actuaries Institute makes proposal to close advice gap

ELIZA BAVIN  |  TUESDAY, 28 OCT 2025
... complex financial advice regulations. "The HGA framework, supported by DBFO reforms, provides a pathway to resolve this 'Trustee Dilemma' while enabling funds to better serve their members," it said. It said while the DBFO reforms, once complete, should ...

Court blocks Merhi from financial services

KARREN VERGARA  |  TUESDAY, 28 OCT 2025
Venture Egg financial adviser Ferras Merhi has been banned from working in financial services after ASIC successfully obtained interim restraining orders from the Federal Court. Yesterday, Justice Moshinsky restrained Merhi "through his servants, agents ...

Macquarie to shed more than 240 investment options

KARREN VERGARA  |  FRIDAY, 24 OCT 2025
... regulator alleges MIM did not act efficiently, honestly and fairly when it failed to place Shield on a watch list. MIM is the trustee of the Macquarie Superannuation Plan. It oversaw about $321 million of the superannuation savings invested into Shield. ...

Shield, First Guardian fallout calls for tougher scrutiny on research houses, licensee governance

MATTHEW WAI  |  FRIDAY, 24 OCT 2025
The fall of the Shield Master Fund and First Guardian Master Fund calls for tougher scrutiny of research houses and licensees to strengthen their governance framework, according to experts, who warn that an entrenched system requires an urgent shakeup. ...

APRA updates governance framework

ELIZA BAVIN  |  FRIDAY, 24 OCT 2025
The Australian Prudential Regulation Authority (APRA) has provided an update on its consultation to modernise the prudential framework on governance for superannuation trustees, banks and insurers. In March, APRA proposed eight measures to update its ...

FEATURE: Fund admin | Tight Ship

KARREN VERGARA  |  FRIDAY, 24 OCT 2025
... operational failings with an important third-party service provider. "Importantly, the enforcement action is focused on a trustee's management of such failings as a trustee remains responsible from a regulatory perspective. Some caution is prudent before ...

Equip Super searches for new chief executive

JAMIE WILLIAMSON  |  THURSDAY, 23 OCT 2025
The industry super fund is on the lookout for a new chief executive following the resignation of Scott Cameron. Cameron has led Equip Super for six years, taking over when Equip entered a joint venture with Catholic Super to operate under the Togethr ...

Feature: Group insurance | Cold comfort

MATTHEW WAI  |  WEDNESDAY, 22 OCT 2025
... processing issues within the trustees' control. Just 48% of claims were paid within 90 days. The most horrifying finding? A trustee that took over 500 days to pay a claim to a grieving widow and failed to respond to her financial hardship concerns. ...

ASIC slaps MWL adviser with ban over Shield involvement

MATTHEW WAI  |  WEDNESDAY, 22 OCT 2025
ASIC has banned Wade Spooner of Melbourne for eight years for advising his clients to invest their superannuation into the Shield Master Fund while he was an authorised representative of MWL Financial Services. Spooner, also a member of MWL's investment ...