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Showing 271 - 280 of 890 results for "Failing"

APRA to weed out underperforming choice products

KARREN VERGARA  |  FRIDAY, 29 OCT 2021
... released staggering statistics that will force superannuation trustees to lift their game and expose choice products that are failing members by charging high fees and delivering poor investment returns. APRA found that choice products charge 40% more ...

Unlisted asset valuation processes largely inadequate: APRA

JAMIE WILLIAMSON  |  WEDNESDAY, 27 OCT 2021
... noting frequent instances of governance structure which were inadequate for the complexity of investments; super funds failing to assess appropriateness of valuations; and reliance on fund managers' operational controls. APRA said some super funds failed ...

Former Dover adviser banned

ANNABELLE DICKSON  |  THURSDAY, 21 OCT 2021
... corporate regulator handed down a six-year ban from providing financial services to a Melbourne-based financial adviser for failing to provide appropriate advice. Ashok Sherwal advised clients in need of cash to replace their existing insurance and superannuation ...

Colonial First State seeks MySuper redemption

ANNABELLE DICKSON  |  TUESDAY, 19 OCT 2021
After failing to meet APRA's inaugural performance test, Colonial First State (CFS) has appointed BlackRock to run strategies across its two MySuper funds. BlackRock won the mandate to provide investment services to CFS' FirstChoice Employer Super (FCES) ...

FSC advice reforms slash time, costs by 30%

KARREN VERGARA  |  TUESDAY, 12 OCT 2021
... practitioners KPMG interviewed highlighted examples where they are statistically meeting one of those provisions, but failing the other, she said, adding that participants believe there is merit and value in reforming the provisions. This could either ...

EISS Super answers tough questions

ELIZABETH MCARTHUR  |  TUESDAY, 12 OCT 2021
... probably paid the penalty for having that focus, but it is something we've amended in the last few years," he said. The failing funds were AMG MySuper, ASGARD Employee MySuper, Australian Catholic Superannuation and Retirement Fund's LifeTime ...

CBA completes review, sued by FWO

ANNABELLE DICKSON  |  TUESDAY, 12 OCT 2021
... isn't over for the bank as it was the Fair Work Ombudsman (FWO) alleges CBA and CommSec contravened the Fair Work Act for failing to pay 7425 workers about $16.44 million in wages. In 2019, CBA flagged to the FWO and ASX that it was completing a ...

ASIC commences proceedings against Diversa

ELIZABETH MCARTHUR  |  MONDAY, 11 OCT 2021
The regulator is taking Diversa Trustees to court over failing to maintain oversight of a now banned financial adviser. Diversa is the trustee for $1 billion Future Super, Mason Stevens Super, ING Super and MAP Master Super - later known as OneSuper ...

Big four bank complaints drop

ANNABELLE DICKSON  |  THURSDAY, 7 OCT 2021
... complaints. The top five complaints received were due to unauthorised transactions, service quality, default listing, failing to respond to request for assistance and incorrect fees or costs. Over half were resolved at the registration and referral stage. ...

Adviser exam cost jumps under new bill

KARREN VERGARA  |  THURSDAY, 30 SEP 2021
... proposed changes include removing the three-month waiting period before advisers can register to take the exam again after failing. Candidates will be given the option to sit the exam flexibly either in person, virtually or via alternative arrangements. ...