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Showing 11 - 20 of 55 results for %22SIS Superannuation Industry Supervision Act%22

ASIC pursues criminal charges in super

JAMIE WILLIAMSON  |  WEDNESDAY, 10 MAR 2021
... come into effect from January 2022. Until then it is only breaches under the Superannuation Industry (Supervision) Act, or SIS Act, that cannot be paid for using member money. The ban was originally slated to commence at the beginning of this year. In ...

New heatmap shames trustees

KARREN VERGARA  |  FRIDAY, 18 DEC 2020
... trustees have failed in their obligations to members and potentially breached the Superannuation Industry (Supervision) Act 1993 (SIS Act). Thirty-seven products assessed are performing at or above the heatmap investment benchmarks over six years; 27 ...

ASIC cracks down on 42 SMSF auditors

ALLY SELBY  |  THURSDAY, 20 AUG 2020
... pointing to the auditors' relevant non-SMSF experience and personal circumstances to justify the move. Since July 2013, the SIS Act has required all SMSF auditors to be registered with ASIC to ensure they meet base standards of competency and expertise. ...

SMSF auditors in firing line

ELIZA BAVIN  |  FRIDAY, 14 FEB 2020
... exam. ASIC praised the Australian Taxation Office for its assistance under the Superannuation Industry (Supervision) Act (SIS Act). "ASIC and the ATO work closely together as co-regulators of SMSF auditors," ASIC said. "The ATO monitors SMSF auditor ...

APRA responds to industry concerns

ELIZA BAVIN  |  THURSDAY, 28 NOV 2019
... interpretation would limit scrutiny on the performance of choice products," APRA said. "APRA's view is that absent the final SIS Regulations defining a comparable choice product, it is not possible for an RSE licensee to undertake the required comparison ...

Former IOOF company loses court battle in timber scheme

KANIKA SOOD  |  FRIDAY, 27 SEP 2019
... individuals the regulator sought to have disqualified, including former managing director Chris Kelaher, did not contravene the SIS Act. APRA commenced the action in December 2018, seeking to impose licence conditions on IOOF and disqualify Kelaher ...

Federal Court delivers APRA, IOOF verdict

JAMIE WILLIAMSON  |  FRIDAY, 20 SEP 2019
... individuals the regulator sought to have disqualified, including former managing director Chris Kelaher, did not contravene the SIS Act. The Federal Court also awarded costs in IOOF's favour. Australian Executor Trustees was also subject to the legal ...

Kelaher to leave IOOF

ELIZABETH MCARTHUR  |  THURSDAY, 4 APR 2019
... Superannuation Industry (Supervision) Act, describing him as someone who "demonstrated a failure to understand the covenants under the SIS Act and obligations of a trustee under trust law." Commenting on the departure of Kelaher, Griffiths said: "The ...

APRA could oversee stalled super fund mergers

KANIKA SOOD  |  WEDNESDAY, 6 FEB 2019
... mergers. The Parliament is currently waiting to pass a number of changes to the Superannuation Industry (Supervision) Act (SIS Act), including giving APRA a power to issue directions to RSE licensees. "It may be that, in particular circumstances, addressing ...

DomaCom concludes Federal Court action

KARREN VERGARA  |  TUESDAY, 25 SEP 2018
... Federal Court action in June 2017, appealing for its sub-funds not to be considered in-house assets or related trusts under the SIS (Superannuation Industry Supervision) Act. The exemption would mean SMSF investors with the ASX-listed fractional investment ...