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Showing 251 - 260 of 891 results for "Failing"

More Diversa super products to wind up

JAMIE WILLIAMSON  |  FRIDAY, 25 MAR 2022
... into administration with about $2.8 million in FUM. Another sub-plan Diversa oversaw, Zuper, also closed in 2021 after failing to reach sufficient scale. Its closure came less than a year after it was transferred to OneSuper (then Smartsave) as part ...

New initiative calculates how much Aussies need in retirement

ELIZABETH MCARTHUR  |  FRIDAY, 4 MAR 2022
... make up 84% of retirees. Super Consumers Australia said that for those renting in retirement, the system is currently failing to deliver adequate outcomes and savings guidelines alone wouldn't be enough to address the needs of this group. The calculations ...

CalPERS names new chief investment officer

JAMIE WILLIAMSON  |  WEDNESDAY, 23 FEB 2022
... replace Dan Bienvenue who has acted in the role since August 2020 following the resignation of Ben Meng who was accused of failing to fully comply with the California Fair Political Practices Commission in regards to financial disclosures. It was alleged ...

Aware Super advice arm to pay $20m fine

CHLOE WALKER  |  FRIDAY, 18 FEB 2022
... Service. However, the services were never delivered. The Federal Court found that by charging fees for no service and failing to have internal procedures, measures, and controls in place to monitor compliance, Aware FS also breached its obligations as ...

Bell Financial Group in AUSTRAC probe

JAMIE WILLIAMSON  |  THURSDAY, 17 FEB 2022
... with Bell Financial Group to address any compliance concerns, and take action where any businesses that we regulate are failing to appropriately protect themselves and Australia's financial system from criminal activity." Bell Financial Group must cover ...

ASX chief steps down

KARREN VERGARA  |  FRIDAY, 11 FEB 2022
... nearing completion". The CHESS replacement date was pushed back to April 2023 after experiencing several hurdles, such as failing to cope with trading volumes at the start of the global pandemic. It also suffered major technical glitches during the ordinary ...

Super funds failing on animal protection

KARREN VERGARA  |  TUESDAY, 8 FEB 2022
Most superannuation funds overlook the importance of preventing animal cruelty, a global welfare organisation finds. After analysing 200 super funds, World Animal Protection found that 90% do not have a policy that prevents them from investing in animal ...

RI Advice slapped with $6m penalty

KARREN VERGARA  |  FRIDAY, 4 FEB 2022
RI Advice was slapped with a $6 million penalty for failing to keep tabs on a representative who invested clients' money in risky and complex financial products. The Federal Court found that RI Advice failed to take the appropriate steps to ensure ...

Federal Court imposes $4m penalty on industry fund

CHLOE WALKER  |  TUESDAY, 18 JAN 2022
... penalties of $4 million on Statewide Super for providing members with misleading information regarding their insurance and failing to report the issue to ASIC in the time required. Between 2017 and 2020, Statewide was found to have sent over 14,000 annual ...

Future Super hires operations chief

KARREN VERGARA  |  THURSDAY, 6 JAN 2022
... inaugural choice heatmap assessment. smartMonday DIRECT and smartMonday PRIME scored several amber and red ratings for failing to beat their benchmarks over five and seven-year periods. Club Plus officially merged with AustralianSuper on 1 December 2021 ...