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Showing 11 - 20 of 76 results for "fitness"

Cbus faces fresh investigation over fund expenditure practices

ANDREW MCKEAN  |  TUESDAY, 11 FEB 2025
... review its compliance with Prudential Standard 520, which mandates all boards members of a super fund meet criteria of fitness and propriety, including demonstrating "character, honesty, integrity, diligence, and judgement." The court-enforceable undertaking ...

BUSSQ loses legal bid to overturn additional licence conditions

ANDREW MCKEAN  |  MONDAY, 3 FEB 2025
... additional licence conditions. Last August, APRA imposed additional licence conditions on BUSSQ's trustee over concerns about fitness and proprietary processes and fund expenditure management. At the same time, APRA cracked down on Cbus' trustee in response ...

South Australian financial adviser slapped with seven-year ban

ANDREW MCKEAN  |  FRIDAY, 6 DEC 2024
... clients, or for the losses his advice and trading caused, according to ASIC. The regulator said this reflected poorly on his fitness and propriety to be involved in financial services. Davis, however, has the option to appeal ASIC's decision to the Administrative ...

Cbus lacks stringent director, expenditure policies: Deloitte

JAMIE WILLIAMSON  |  WEDNESDAY, 4 DEC 2024
... the independent review conducted by Deloitte, saying it has accepted all 26 recommendations, which largely relate to the fitness of its board and fund expenditure, in principle. Earlier this year, Deloitte was tasked with undertaking an independent review ...

BUSSQ board members removed

ANDREW MCKEAN  |  FRIDAY, 13 SEP 2024
... These licence conditions related to the appointment of an independent third party to conduct a review of the trustees' fitness and propriety framework for directors and expenditure decisions which pertain to the CFMEU. Taylor argued that the regulator ...

APRA reprimands Cbus, BUSSQ over governance issues

ANDREW MCKEAN  |  WEDNESDAY, 14 AUG 2024
... their compliance with Prudential Standard SPS 520 Fit and Proper, which sets out requirements in relation to assessing the fitness and propriety of "responsible persons." That standard mandates all boards members of a super fund must meet criteria of ...

Industry funds defend CFMEU board ties

ANDREW MCKEAN  |  FRIDAY, 19 JUL 2024
... review each year," Cbus said. CPS 250 sets out minimum requirements for APRA-regulated institutions in determining the fitness and propriety of individuals to hold positions of responsibility. However, the "ultimate responsibility" for ensuring the fitness ...

ASIC permanently bans Queensland adviser

ELIZA BAVIN  |  THURSDAY, 18 JUL 2024
... provided by the authorised representative when it had not. "Mr Abdalla's conduct gave reason to believe that he lacks the fitness and propriety to provide financial services, or manage or control those who do," ASIC said. Abdalla first gained his Australian ...

ASIC bans director who promised 150% returns

ELIZA BAVIN  |  THURSDAY, 21 MAR 2024
... Creigh was likely to contravene a financial services law due to his "fundamental lack of competence as well as his lack of fitness and propriety". Creigh has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC's decisi ...

Vale Tony Bongiorno

KARREN VERGARA  |  TUESDAY, 10 OCT 2023
... Bongiorno passed away after taking part in a cycling event for charity. "His motivation for the ride, his passion for fitness, his competitive spirit and of course, his eternally generous soul are quintessentially Tony," she said. "We will forever be ...