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Showing 191 - 200 of 890 results for "Failing"

FRAA provides roadmap for improved super regulation by APRA

ANDREW MCKEAN  |  FRIDAY, 14 JUL 2023
... resolution planning requirements. The FRAA said this will ensure APRA is able to support recovery and exit, and resolve failing superannuation trustees.

Allegro unveils PwC entity as Scyne Advisory

CASSANDRA BALDINI  |  TUESDAY, 4 JUL 2023
... the eight staff in question still remains unclear. "PwC's claims of accountability and the purport of consequences for failing to meet appropriate standards of professional conduct offer a begrudging and belated response to actions which occurred, and ...

Performance test excluding retirement products is "crazy": Podcast

CASSANDRA BALDINI  |  THURSDAY, 29 JUN 2023
... test works at the moment, it nets out the effect of those asset allocation decisions. We think that's a significant failing," he said. Linden said he is also concerned any further extension of the test will only include trustee-directed products. ...

Trustees must do better on account consolidation: ASIC

JAMIE WILLIAMSON  |  THURSDAY, 29 JUN 2023
... Consumers Australia to call on ASIC and APRA to do more to address the issue and be transparent about which funds are failing to look out for their members. That said, the Protecting Your Super reforms introduced the stapling of accounts in November ...

Labor advances super performance test changes

KARREN VERGARA  |  MONDAY, 19 JUN 2023
... and minister for financial services Stephen Jones will mandate super funds that send notification letters to members of failing Choice products to adjust for flag cost considerations. Trustees must therefore take into account the nature of different ...

Former Big Un executive smacked with insider trading charge

ANDREW MCKEAN  |  WEDNESDAY, 14 JUN 2023
... misconduct related to Big Un, last year, ASIC convicted Graham Swan, the company's former auditor. He was found guilty of failing to comply with auditing standards during his examination of Big Un.

OnePath fined over MySuper bungle

JAMIE WILLIAMSON  |  WEDNESDAY, 14 JUN 2023
Insignia Financial and OnePath Custodians will pay $1.5 million for failing to direct member contributions to a MySuper product. APRA has fined OnePath Custodians $1.46 million after it was made aware 125 default member contributions were not directed ...

Coinbase sued as US crackdown continues

JAMIE WILLIAMSON  |  WEDNESDAY, 7 JUN 2023
... as a broker, clearing agency, and national securities exchange when it was not registered to. It was also charged for failing to register the offer and sale of its crypto asset staking-as-a-service program. According to the SEC's complaint, since at ...

Vanguard fined for defective account statements

KARREN VERGARA  |  MONDAY, 5 JUN 2023
... appreciation/depreciation and investment returns. Additionally, VMC failed to reasonably supervise its account statements by failing to timely address customer reports of inaccuracies." Once FINRA opened its investigation, Vanguard shortly self-reported ...

Poor policy administration sees MLC Life pay $22m

JAMIE WILLIAMSON  |  FRIDAY, 19 MAY 2023
MLC Life will pay $10 million, in addition to $12 million in remediation, for failing to pay promised rehabilitation benefits. The life insurer was penalised by the Federal Court after it was found guilty of several breaches of the ASIC Act, the Corporations ...