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Showing 1 - 10 of 4107 results for "Trustee"

ANZ, OnePath settle $50m class action

ELIZA BAVIN  |  FRIDAY, 4 OCT 2024
... which will be paid to group members who register with the firm. The class action alleged that OPC breached its duties as trustee by investing members' superannuation funds in cash investment options with its parent company ANZ, at rates for members that ...

Retirement calculators 'can't be counted on': SCA

ANDREW MCKEAN  |  MONDAY, 30 SEP 2024
... also used fees that didn't match their PDS. Diversa offered a generic calculator for all the funds for which they are the trustee, while BT and Colonial First State used the generic fee assumptions sourced from MoneySmart rather than tailoring them to ...

Nudging pre-retirees has 'little effect'

ELIZA BAVIN  |  WEDNESDAY, 25 SEP 2024
The Australian government has recommended super funds use 'nudging' to help encourage members to engage more with their retirement savings, however new research from Yale University in the US has found the practice doesn't work as well as initially ...

APRA calls out high-cost super platforms

ELIZA BAVIN  |  TUESDAY, 24 SEP 2024
... "APRA has no tolerance for members to remain in poorly performing products without credible and timely rectification by a trustee." APRA urged trustees to examine the drivers behind significantly higher admin fees and costs and whether the products can ...

ASIC updates and reissues RG 121

ELIZA BAVIN  |  MONDAY, 23 SEP 2024
... administer, manage, or otherwise deal with, property situated in Australia as an agent, legal personal representative or trustee, whether by employees or agents or otherwise. Lastly, the new guidance has updated descriptions of, or references to, financial ...

Inquiry urges government to consider paid reproductive leave

JAMIE WILLIAMSON  |  FRIDAY, 20 SEP 2024
The Senate committee tasked with investigating issues related to menopause wants the government to research the efficacy of existing reproductive leave policies in Australia and overseas with consideration to introducing it in the National Employment ...

ASIC sees case against Rest thrown out

ANDREW MCKEAN  |  THURSDAY, 19 SEP 2024
ASIC's case against Rest, in which it alleged the super fund misled members about their ability to transfer superannuation out of the fund, has been thrown out by the Federal Court. The case focused on Rest's past practices around rollover requests ...

Government consults on laxing legacy super product rules

ANDREW MCKEAN  |  WEDNESDAY, 18 SEP 2024
The government is consulting on new regulations to relax restrictions on legacy superannuation products which would allow individuals to exit unsuitable products and remove barriers to closing legacy funds. The purpose of the draft Treasury Laws Amendment ...

FSU steps up calls for reproductive leave policies

JAMIE WILLIAMSON  |  MONDAY, 16 SEP 2024
The Finance Sector Union (FSU) is urging the financial services industry to adopt paid menopause leave policies as it finds more than one third of workers experiencing symptoms are likely to retire early as a result. In October 2023, the FSU launched ...

BUSSQ board members removed

ANDREW MCKEAN  |  FRIDAY, 13 SEP 2024
... thank them for their service..." Taylor said. Last month APRA announced plans to impose licence conditions on BUSSQ's trustee. These licence conditions related to the appointment of an independent third party to conduct a review of the trustees' fitness ...
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