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Showing 11 - 20 of 340 results for "Victims"

Concerns raised over super switching consultation

ELIZA BAVIN  |  FRIDAY, 10 APR 2026
... levels, legacy data matching at the ATO, and a government-mandated performance test that is effectively ordering 12,400 victims and millions more to migrate". Walsh said APRA's performance test actually forces many Australians to switch funds. "The most ...

Super Consumers Australia raises concerns over Treasury reforms

RIDDHIMA TALWANI  |  THURSDAY, 9 APR 2026
... government to focus on reforms that will actually protect people, warning against ineffective measures and those that will harm victims. It raised concerns over the proposal to remove the 'but for test' from the Compensation Scheme of the Last Resort ...

Treasury proposes lead generator, super switching reforms

KARREN VERGARA  |  WEDNESDAY, 8 APR 2026
... products and inadequate diversification, resulting in significant losses that peaked at about $1 billion. Many of the victims were contacted by lead generators to switch their superannuation fund to Shield and First Guardian. Minister for financial services ...

Treasury opens CSLR funding, sustainability consultation

KARREN VERGARA  |  WEDNESDAY, 8 APR 2026
... December, then shadow financial services minister Pat Conaghan slammed the CSLR, saying that a scheme designed to compensate victims must be sustainable. "Right now, the CSLR is constantly running out of money, and almost a year after the government ...

AFCA names inaugural chief scams officer

MATTHEW WAI  |  THURSDAY, 26 MAR 2026
... Most recently, Lacey was the founder and chief executive of IDCARE and helped build the nation's response service for victims of identity crime and scams. He has also held senior executive roles across government and industry in cyber and identity security ...

Law blocking abusers from hiding assets in super enters parliament

ELIZA BAVIN  |  WEDNESDAY, 25 MAR 2026
... prevent convicted child sexual abusers from hiding their assets in superannuation to avoid paying compensation to their victims. Minister for financial services Daniel Mulino said the reforms improve transparency, reduce uncertainty, and strengthen the ...

FEATURE | Regulation: Picking up the pieces

KARREN VERGARA  |  TUESDAY, 24 MAR 2026
... obligations. It is counting on the Operational Risk Financial Requirement (ORFR), which can be activated in the same way that victims of Trio Capital were remediated. In a case of deja vu, the catastrophes of Shield and First Guardian have set off unsavoury ...

Treasury proposes options to block victim-survivors' super going to perpetrators

JAMIE WILLIAMSON  |  THURSDAY, 5 MAR 2026
... open on reforms to prevent perpetrators of domestic and family violence from receiving the super death benefits of their victims. Under current law, a superannuation trustee may be required to pay a death benefit to a person who perpetrated family and ...

Netwealth reports HY loss after $100m payment to First Guardian victims

ELIZA BAVIN  |  WEDNESDAY, 18 FEB 2026
Netwealth has reported a half year net loss of $2.2 million after refunding more than $100 million to victims of the First Guardian Master Fund collapse. Excluding the First Guardian expense, Netwealth said net profit after tax would have grown 19.9% ...

Deadline approaches for Shield, First Guardian victims

MATTHEW WAI  |  FRIDAY, 6 FEB 2026
A new website is launching today to assist some 9000 victims who have yet to file a complaint in relation to the Shield and First Guardian Master Funds, as the deadline for some fast approaches. Funded by ASIC, the new website was launched by Super ...