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Showing 211 - 220 of 890 results for "Failing"

Optimum Pensions urges super trustees to insure mortality risk

ANDREW MCKEAN  |  TUESDAY, 28 FEB 2023
... associated with ignoring longevity risk to save costs and ensure that they have the necessary expertise to model them, he said. Failing to disclose how much a customer's income may change due to variations in mortality experience can also be seen ...

Former Big Un chief charged with insider trading

CASSANDRA BALDINI  |  WEDNESDAY, 15 FEB 2023
... from ASIC. Last year, Big Un former auditor Graham Rothesay Swan also came under ASIC attention. Swan was convicted for failing to conduct the 2017 company audit in compliance with auditing standards. ASIC said its investigation concerning Big Un, and ...

More DASS complainants flock to AFCA

KARREN VERGARA  |  MONDAY, 6 FEB 2023
... eligibility under a potential future CSLR". The Federal Court recently ordered Dixon Advisory to pay $7.2 million for failing to act in the best interest of eight clients on 53 occasions with respect to their investment in the ASX-listed US Masters Residential ...

AAT upholds AFSL cancellation

CHLOE WALKER  |  THURSDAY, 12 JAN 2023
... engaged in unconscionable conduct, prohibited hawking, misleading or deceptive conduct, false or misleading statements, failing to provide appropriate advice, and failing to act in the best interests of clients. The AAT stated these "problems went undetected ...

Former Statewide Super executives charged

ANDREW MCKEAN  |  MONDAY, 12 DEC 2022
... Statewide Super found itself in hot water for providing members with misleading information regarding their insurance and failing to report the issue to ASIC in the time required. The Federal Court imposed a $3.5 million penalty for the misleading correspondence ...

Trustees must improve IDR processes: ASIC

JAMIE WILLIAMSON  |  FRIDAY, 9 DEC 2022
... business days. Seven of the 38 funds sent more than 10% of responses after 45 days. Further, many trustees are routinely failing to inform complainants when a response will exceed the maximum timeframe, putting at risk the complainant's ability to ...

OnePath Life sued over utmost good faith duties breach

JAMIE WILLIAMSON  |  THURSDAY, 8 DEC 2022
... mental health issues many years prior to her taking out the policy. OnePath Life said the customer acted fraudulently by failing to disclose this information, despite the fact the hospitalisations took place between 2001 and 2005. ASIC is alleging that ...

ASIC suspends, cancels AFSLs

CHLOE WALKER  |  WEDNESDAY, 7 DEC 2022
... AFSL and cancelled that of AFSL Group. The suspension of QFML follows the ban of its managing director Peter Gribble for failing to pay $2.5 million in Australian Financial Complaints Authority (AFCA) determinations. According to ASIC, QFML also didn't ...

'Our fears were warranted': Chant West proposes YFYS alternative

ANDREW MCKEAN  |  THURSDAY, 24 NOV 2022
Chant West says the dire consequences of failing the Your Future, Your Super (YFYS) performance test is outweighing the rewards for passing, causing some funds to make passing the test their primary investment focus. "We are seeing clear evidence of ...

Private market investment impediments not insurmountable: Frontier

ANDREW MCKEAN  |  TUESDAY, 22 NOV 2022
... strategies success is done by comparing an asset class to a benchmark without allowance for risk. "The severe consequences of failing the benchmarking process means superannuation funds will be encouraged to either take on greater risk in these sectors ...