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Showing 11 - 20 of 74 results for "BUSSQ"

BUSSQ's boardroom brass cleared, CFMEU spend deemed sound

ANDREW MCKEAN  |  WEDNESDAY, 2 JUL 2025
Queensland-based industry super fund BUSSQ, which has ties to the scandal-plagued Construction, Forestry, Maritime, Mining, and Energy Union (CFMEU) through its board, emerged largely unscathed from an independent report by KPMG. BUSSQ was hit with ...

BUSSQ lowers administration fees

ELIZA BAVIN  |  TUESDAY, 27 MAY 2025
BUSSQ MySuper and Premium Choice account holders will see lower administration fees, however their insurance costs will rise from July 1. The $7 billion super fund will no longer charge members a weekly administration fee of $1.75 ($91 per year) and ...

BUSSQ abandons appeal, concedes to licence conditions

ANDREW MCKEAN  |  THURSDAY, 13 MAR 2025
BUSSQ has pulled the plug on its Federal Court appeal for a judicial review of APRA's additional licence conditions, caving to the regulator's edict. At the same time, APRA has tweaked the conditions it slapped on BUSSQ last August, which force ...

BUSSQ handed stricter licence conditions by APRA amid appeal

ANDREW MCKEAN  |  THURSDAY, 20 FEB 2025
... conditions, the super fund is gearing up for another fight. APRA said the imposition of the additional licence conditions on BUSSQ are to safeguard the interests of members, ensure prudential concerns can be addressed effectively and expeditiously, and ...

Cbus faces fresh investigation over fund expenditure practices

ANDREW MCKEAN  |  TUESDAY, 11 FEB 2025
... required under additional licence conditions imposed by the regulator. APRA imposed additional licence conditions on Cbus and BUSSQ in August last year over governance concerns following CFMEU scandals, requiring Cbus' trustee, United Super, to appoint ...

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 ...

ASIC escalates super fund enforcement in 2025

KARREN VERGARA  |  FRIDAY, 15 NOV 2024
... efficiently'," Court said. She went on to say that ASIC has "got much work to come early in the new year on this area". Cbus, BUSSQ, and First Super this year made headlines with respect to their ties with the Construction, Forestry and Maritime ...

Mandate appointments sink to new lows

ANDREW MCKEAN  |  THURSDAY, 17 OCT 2024
... super funds that awarded the most mandates in the year to June 2024 were Rest (15), Hostplus (11), HESTA (7), Cbus (5), and BUSSQ (5). By asset class, most of these mandates were for alternatives and international equities. Rest awarded the largest mandates ...

BUSSQ board members removed

ANDREW MCKEAN  |  FRIDAY, 13 SEP 2024
BUSSQ board members Jacqui Collie and Michael Ravbar, both of whom are senior Construction, Forestry, and Maritime Employees Union (CFMEU) officials, have been replaced effective immediately. The administrator for the Queensland branch of the CFMEU ...

APRA alleges First Super co-chair breached director duties

JAMIE WILLIAMSON  |  FRIDAY, 6 SEP 2024
... further comment on these proceedings or the subject matter of these proceedings." Just last month, APRA forced Cbus and BUSSQ to take action to address concerns around their CFMEU-linked directors. The CFMEU's construction and general divisions were ...