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Showing 11 - 20 of 97 results for superannuation industry act sis

Focus on providing 'good advice': QAR draft proposals

JAMIE WILLIAMSON, CASSANDRA BALDINI  |  MONDAY, 29 AUG 2022
A focus on providing 'good advice', the scrapping of general advice, and allowing superannuation funds to provide personal financial advice are just some of the proposed reforms contained in the Quality of Advice Review's consultation paper. ...

Labor vows to review YFYS test

RACHEL ALEMBAKIS  |  FRIDAY, 8 APR 2022
Appearing at an industry conference yesterday, the shadow minister for financial services and superannuation vowed to review the Your Future, Your Super (YFYS) performance test if elected, citing "unintended and negative consequences" for ESG investing. ...

Rainy day funds probed

ELIZABETH MCARTHUR  |  FRIDAY, 11 FEB 2022
... getting some clarity in that space to ensure that that doesn't happen." Amendments to Section 56 of the Superannuation Industry (Supervision) Act 1996 were made as part of the government's response to the Royal Commission with the intention of ...

Hostplus hits members with new fee

ELIZABETH MCARTHUR  |  THURSDAY, 10 FEB 2022
... Hostplus member with $50,000 in savings can expect to be charged an extra $16 annually for the new fee. The $74 billion industry fund informed members that the new trustee fee is being introduced in response to recent changes to the SIS Act which broaden ...

Blue Crane Capital launches fintech tool for SMSFs

CHLOE WALKER  |  WEDNESDAY, 9 FEB 2022
... was created in response to its observation that the SMSF sector could grow in response to changes to the Superannuation Industry (Supervision) Act (SIS Act) in July 2021. Under the changes, SMSFs can now have up to six trustees instead of the previous ...

AMP in enforceable undertaking

JAMIE WILLIAMSON  |  TUESDAY, 16 NOV 2021
... to "specific matters additional to those" addressed by that action, that may have been breaches of the Superannuation Industry (Supervision) Act 1993 (SIS Act). According to documents, the CEU does not intend to deal with issues that are currently the ...

Cbus to create rainy day fund to cover fines

ELIZABETH MCARTHUR  |  THURSDAY, 11 NOV 2021
... change its rules to create a special pool of capital to pay any future fines. Following changes to the Superannuation Industry (Supervision) Act in response to the Royal Commission, many profit-to-members funds will have to restructure the way they pay ...

ASIC disqualifies SMSF auditor

ANNABELLE DICKSON  |  WEDNESDAY, 30 JUN 2021
... the approved form. Shrubsole's breaches were first identified by the ATO under section 128P of the Superannuation Industry (Supervision) Act 1993 (SIS Act) and then referred to ASIC. Both ASIC and the ATO act as co-regulators of SMSF auditors. The ...

ASIC pursues criminal charges in super

JAMIE WILLIAMSON  |  WEDNESDAY, 10 MAR 2021
... ASIC Act. The ban will now 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 ...

New heatmap shames trustees

KARREN VERGARA  |  FRIDAY, 18 DEC 2020
... looking into whether 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 ...