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Showing 161 - 170 of 326 results for "SIS"

ANZ, IOOF revise wealth sale agreement

JAMIE WILLIAMSON  |  TUESDAY, 15 JAN 2019
... conflicts management frameworks. An independent report from EY suggesting IOOF Investment Management Limited breached the SIS Act and further prudential standards underpins APRA's action. The action was followed by news that IOOF managing director ...

Superannuation a mystery to students: survey

KANIKA SOOD  |  THURSDAY, 10 JAN 2019
A new survey has revealed a "startling knowledge gap" in super, with close to half of Australian students knowing little to nothing about superannuation. Student Super's survey also found that 42% percent of the polled students were unsure about ...

Grandfathered commissions: Where to from here?

JAMIE WILLIAMSON  |  WEDNESDAY, 19 DEC 2018
Almost two-thirds of financial advisers are against the removal of grandfathered commissions. A recent poll conducted by Financial Standard's sister publication FS Advice found 63% of respondents do not believe the payment of grandfathered commissions ...

APRA takes action against IOOF

HARRISON WORLEY  |  FRIDAY, 7 DEC 2018
... issued by big-four accounting firm EY which provided a "reasonable basis" to conclude IIML had breached section 52 of the SIS Act and prudential standards SPS 520 and 521, which relate to conflicts of interest. APRA said it would seek to disqualify five ...

Property fund hires manager

KANIKA SOOD  |  WEDNESDAY, 5 DEC 2018
The fund manager of a $450 million office real estate trust has jumped ship to another manager. Grant Nichols who ran the roughly $450 million Australian Unity Office Fund is taking over as the fund manager of the $850 million Centuria Metropolitan ...

More SMSF auditors disqualified

DARREN SNYDER  |  TUESDAY, 30 OCT 2018
... ASIC's SMSF auditor register. Both men were referred to ASIC by the Australian Taxation Office (ATO) under section 128P of the SIS Act. From 1 July 2013, the SIS Act required all auditors of SMSFs to be registered with ASIC. This was to ensure that ...

Retirement planning gets a recession check

KANIKA SOOD  |  MONDAY, 29 OCT 2018
As talks about a global recession grow louder, financial advisers and investors are repositioning their clients' nest eggs against a market crash or an economic slowdown. In the past fortnight, a JPMorgan quantitative model predicted a 60% chance ...

Macquarie Group appoints foundation chair

HARRISON WORLEY  |  TUESDAY, 25 SEP 2018
Macquarie Group named the new chair of its community arm, as current foundation chair Shemara Wikramanayake prepares to officially assume control of the $497 billion giant. Macquarie Bank chief executive and managing director Mary Reemst will chair ...

DomaCom concludes Federal Court action

KARREN VERGARA  |  TUESDAY, 25 SEP 2018
... Federal Court action in June 2017, appealing for its sub-funds not to be considered in-house assets or related trusts under the SIS (Superannuation Industry Supervision) Act. The exemption would mean SMSF investors with the ASX-listed fractional investment ...

Royal Commission hears industry fund admitted wrongdoing to ASIC

HARRISON WORLEY  |  MONDAY, 24 SEP 2018
... $52 billion industry superannuation fund admitted to inadvertently breaching the Superannuation Industry (Supervision) Act (SIS Act) in a breach report filed with ASIC on the penultimate day of the Royal Commission's sixth round of hearings. Making his ...