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Showing 251 - 260 of 539 results for "Supervision"

Federal Court rules partly in favour of DomaCom

HARRISON WORLEY  |  TUESDAY, 14 AUG 2018
... 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 a related party of an SMSF rented a property ...

ASIC staff to investigate institutions from the inside

JAMIE WILLIAMSON  |  TUESDAY, 7 AUG 2018
... in large listed companies, including the deployment of staff on-site. A further $9.4 million will be used to boost supervision of the superannuation sector to improve transparency and member outcomes by way of enhanced audit and enforcement action measures. ...

One measure not enough to revoke MySuper: APRA

HARRISON WORLEY  |  MONDAY, 6 AUG 2018
... called for enhanced powers, saying its experience led it to believe stronger powers can help in achieving enhanced supervision outcomes - even if they aren't necessarily used. Specifically, APRA called for the passage of proposed APRA directions powers ...

Super funds suit up for Royal Commission

KARREN VERGARA  |  MONDAY, 6 AUG 2018
... whether the use of members' money meets the sole purpose test and is consistent with the Superannuation Industry (Supervision) Act 1993. Advertising and marketing expenditure, for example, may be on the radar. Such expenditure shouldn't be problematic ...

CBA should have done more: Federal Court

HARRISON WORLEY  |  WEDNESDAY, 11 JUL 2018
... it had made to its policies, procedures, systems, controls, training, guidance and framework for the monitoring and supervision of employees and trading in prime bank bills, with further changes set to be made. According to ASIC, CBA admitted failure ...

CIPR framework timely but questions remain

KARREN VERGARA  |  THURSDAY, 28 JUN 2018
... "proportional" guidance is clearly articulated, especially if this principle is embedded in the Superannuation Industry (Supervision) Act. Rice Warner added CIPRs should be a component of a default retirement strategy; trustees shouldn't have to offer ...

PC puts spotlight on lifecycle super products

KARREN VERGARA  |  MONDAY, 25 JUN 2018
... governance around retirement income and isn't overly concentrating on products, he said. The Superannuation Industry (Supervision) Act 1993 currently doesn't provide direction or guidance for trustees and super funds when it comes to retirement ...

ASIC looks into Melbourne planning firm

HARRISON WORLEY  |  THURSDAY, 7 JUN 2018
... based financial planning business will extend to an independent review of its compliance arrangements. Record keeping, supervision and other compliance arrangements of Melbourne-based Allied Financial Solutions are the subject of an independent external ...

Retirement income paper open for consultation

KANIKA SOOD  |  FRIDAY, 18 MAY 2018
... up nine-person advisory group to help establish the scope of a retirement covenant in the Superannuation Industry Supervision Act 1993. The SIS Act already has covenants on insurance and investment. On Budget night, Treasurer Scott Morrison flagged the ...

Baby boomers receive $259 million, pension work bonus lifted

KANIKA SOOD  |  TUESDAY, 8 MAY 2018
... changes to legislative frameworks to drive a push for retirement products. It will amend the Superannuation Industry (Supervision) Act 1993 to introduce a retirement covenant that will require superannuation trustees to formulate a retirement income ...