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Showing 251 - 260 of 3918 results for "law"

Large penalties against super funds are appropriate: ASIC

ELIZA BAVIN  |  THURSDAY, 29 MAY 2025
... of $140 million. ASIC later told the Senate Economics Committee it did not seek a higher penalty, in part, because there is law prohibiting penalties being paid directly from member funds. However, Constant said ASIC is doing its job in taking funds ...

QSuper settles $67m class action

ANDREW MCKEAN  |  WEDNESDAY, 28 MAY 2025
QSuper, which merged with Sunsuper to create Australian Retirement Trust (ART), Australia's second-largest super fund, has reached a $67 million out-of-court settlement over claims members were overcharged for life insurance premiums. The settlement ...

ASIC tells super: 'You have everything you need to not fail'

ELIZA BAVIN  |  WEDNESDAY, 28 MAY 2025
... where serious failures are identified, ASIC won't hesitate to take serious action. "We need to do our job, and our job by law is to bring full force and effect for the law. It's literally written into our act," Constant said. "Where it's warranted ...

Small construction firms drag productivity: CEDA

KARREN VERGARA  |  TUESDAY, 27 MAY 2025
Australia's laggard construction productivity and deepening housing crisis have been made worse by the small businesses that dominate the sector, the Committee for Economic Development of Australia (CEDA) says. While several factors have contributed ...

AMP super class action finally hits court

JAMIE WILLIAMSON  |  TUESDAY, 27 MAY 2025
... superannuation fees is finally being heard in court, with the trial kicking off today. In 2019, following the Royal Commission, several law firms sought to commence class actions against AMP in relation to fees charged to superannuation members. Slater ...

Industry groups hammer out guidance on tax-deductible advice fees

ANDREW MCKEAN  |  MONDAY, 26 MAY 2025
... advice fees. The guide covers the legislative background and key definitions related to tax (financial) advice and taxation law. It outlines three potential methodologies for apportioning fees and provides examples, Statement of Advice text and fee summary ...

Challenger adds to board director lineup

MATTHEW WAI  |  MONDAY, 26 MAY 2025
... KPMG, leading its advisory division in Australia and Asia Pacific. He also served as chief executive and managing director of law firm Slater and Gordon. Meanwhile, Whitter brings more than 25 years of experience across digital and software industries ...

ASIC accuses Kalkine of providing unlicensed advice

ELIZA BAVIN  |  FRIDAY, 23 MAY 2025
... honestly and fairly". The regulator added that Kalkine's processes to ensure that its representatives were complying with the law when interacting with consumers were inadequate. ASIC deputy chair Sarah Court said AFS licensees are responsible for the ...

Cointree hit with AUSTRAC fine

ELIZA BAVIN  |  MONDAY, 19 MAY 2025
... 2006 (AML/CTF Act). AUSTRAC chief executive Brendan Thomas said that failing to submit SMRs on time denied AUSTRAC and its law enforcement partners the opportunity to act on the information in a timely manner. "SMRs provide AUSTRAC and our law enforcement ...

FTX creditors await US$5bn distribution

KARREN VERGARA  |  FRIDAY, 16 MAY 2025
Collapsed cryptocurrency exchange FTX is set to pay out US$5 billion to creditors starting May 30. The proceeds will be distributed via the FTX Recovery Trust to eligible creditors either on BitGo or Kraken. This is the second round of distributions ...