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Showing 281 - 290 of 2512 results for "Court"

Perpetual calls off KKR deal

KARREN VERGARA  |  MONDAY, 24 FEB 2025
Perpetual has ended KKR's courtship of its wealth management and corporate trust operations, blaming the massive tax bill the transaction would incur, saying there was no way of getting around it. Since tabulating the tax implications last December ...

Multiple account bungle costs AustralianSuper $27m

KARREN VERGARA  |  FRIDAY, 21 FEB 2025
The Federal Court today slapped AustralianSuper with a $27 million fine for dragging its feet on a multiple account bungle that lasted more than four years. Judge Hespe found that AustralianSuper failed to promptly identify and merge members' multiple ...

Bragg accuses ASIC of secrecy

ELIZA BAVIN  |  THURSDAY, 20 FEB 2025
Senator Andrew Bragg has questioned ASIC over how it handles investigations and proceedings against superannuation funds when it comes to claims handling delays. The back and forth with ASIC commissioner Simone Constant consisted largely of Constant ...

BUSSQ handed stricter licence conditions by APRA amid appeal

ANDREW MCKEAN  |  THURSDAY, 20 FEB 2025
After the Federal Court threw out BUSSQ's bid to overturn the regulator's additional licence conditions, the super fund is gearing up for another fight. APRA said the imposition of the additional licence conditions on BUSSQ are to safeguard ...

Convicted adviser fails to appeal prison sentence

MATTHEW WAI  |  THURSDAY, 20 FEB 2025
... to 18 months' imprisonment on 5 September 2024. On October 3 in the same year, he sought leave to appeal in the Supreme Court of Victoria against the conviction and sentence, claiming there was a "miscarriage of justice and the sentence was manifestly ...

Cbus faces fresh investigation over fund expenditure practices

ANDREW MCKEAN  |  TUESDAY, 11 FEB 2025
... investigation by APRA for possible breaches of superannuation legislation, with the regulator announcing the probe alongside a court-enforceable undertaking to address the super fund's risk management and oversight of key fund services. APRA said ...

Keybridge Capital enters voluntary administration

ELIZA BAVIN  |  MONDAY, 10 FEB 2025
... Accountants as voluntary administrator, with the board blaming its ongoing feud with WAM Active (WAM). The Keybridge board said court orders being sought by WAM prevented Keybridge from raising capital, which saw an offer of debt finance - which was ...

AustralianSuper under investigation for delayed death benefit payouts

ANDREW MCKEAN  |  THURSDAY, 6 FEB 2025
... members were impacted by delays to death and total and permanent disability (TPD) claims, with some waiting more than 90 days. Court documents showed that nearly 8000 TPD claims were impacted, with 4366 taking more than a year to resolve and only 830 ...

Trump orders creation of US sovereign wealth fund

ANDREW MCKEAN  |  TUESDAY, 4 FEB 2025
... wealth fund. The executive order directs US secretary of the treasury Scott Bessent, who was sworn in last week by Supreme Court Justice Brett Kavanaugh - nominated by Trump during his first term - and Trump's nominee for secretary of commerce Howard ...

BUSSQ loses legal bid to overturn additional licence conditions

ANDREW MCKEAN  |  MONDAY, 3 FEB 2025
Industry superannuation fund BUSSQ has lost its legal challenge against APRA, with the Federal Court dismissing its bid to overturn additional licence conditions. Last August, APRA imposed additional licence conditions on BUSSQ's trustee over concerns ...