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Showing 161 - 170 of 321 results for "SIS"

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 ...

APRA to reopen old wounds for CBA, IOOF

KARREN VERGARA  |  WEDNESDAY, 5 SEP 2018
... chief executive Chris Kelaher and described him as someone who "demonstrated a failure to understand the covenants under the SIS Act and obligations of a trustee under trust law." IOOF's complicated structure has been under APRA's radar since 2016. Kelaher ...

More risk advisers offloading practices

KARREN VERGARA  |  WEDNESDAY, 29 AUG 2018
Pressures of the Royal Commission, the Life Insurance Framework and educational reforms are prompting risk advisers to hurriedly sell their practices at discount prices, a merger and acquisitions expert says. Radar Results principal John Birt said there ...

Retail super funds in hot water: Royal Commission

KARREN VERGARA  |  MONDAY, 27 AUG 2018
... members, who continued to receive trailing commissions may potentially breaching the section 52(2)(d)(i) and (d)(iii) of the SIS Act. CBA admitted to APRA in March 2014 it breached the SIS Act on 13,000 occasions after it was unable to determine if First ...

Link fund admin chief departs

JAMIE WILLIAMSON  |  WEDNESDAY, 22 AUG 2018
The chief executive of Link Group's fund administration business has left the company. Link confirmed that Suzanne Holden tendered her resignation after eight years with the administrator. Holden was appointed to lead the fund administration division ...

Federal Court rules partly in favour of DomaCom

HARRISON WORLEY  |  TUESDAY, 14 AUG 2018
... industry, however there are still hurdles to clear before sub-funds are not considered in-house assets or related trusts under the SIS (Superannuation Industry Supervision) Act. The full Federal Court found the Sole Purpose Test was not breached when ...