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Showing 291 - 300 of 890 results for "Failing"

Results out: 13 funds fail YFYS performance test

KANIKA SOOD  |  TUESDAY, 31 AUG 2021
... APRA tested 76 MySuper products in this round, of which 13 failed. This represents a pass rate of 84%. The full list of failing funds is: AMG MySuper, ASGARD Employee MySuper, Australian Catholic Superannuation and Retirement Fund's LifeTime One ...

Maritime Super criticises unfair YFYS test

JAMIE WILLIAMSON  |  MONDAY, 30 AUG 2021
... been done... Whether we fail or not, we've already taken corrective action. I would think we are certainly at risk of failing next year, and beyond that who knows; markets do very funny things." Given the nature of the test, Maritime's MySuper ...

ASX 100 missing key reporting metric: ACCR

ELIZABETH MCARTHUR  |  FRIDAY, 27 AUG 2021
... in annual reporting," ACCR director of workers rights Katie Hepworth said. "However, at the moment many companies are failing to provide investors and the public with even basic information about their workforces, such as the percentage of labour hire ...

NAB fined $18.5m over misleading fee disclosure

JAMIE WILLIAMSON  |  THURSDAY, 26 AUG 2021
... service fees. The court said the bank also contravened its obligations as an Australian financial services licence holder by failing to have procedures and systems in place to ensure fee disclosure statements were provided in a timely manner. As such ...

APRA issues guidance on lifecycle products for performance test

KANIKA SOOD  |  WEDNESDAY, 18 AUG 2021
... included the shorter time-horizon for administration fees that are included in the test, and softer wording in letters that failing funds must send to their members, according to Industry Super Australia (ISA).

CBA to publicise misconduct

ANNABELLE DICKSON  |  TUESDAY, 17 AUG 2021
... public are aware of the misconduct, it sends a strong message that there is significant financial and reputational risk for failing to have the systems in place to prevent overcharging," ASIC commissioner Sean Hughes said. Following an investigation ...

Multiple accounts already in sharp decline

ELIZABETH MCARTHUR  |  THURSDAY, 12 AUG 2021
... superannuation accounts - indicating the huge proportion of workers holding multiple accounts, accruing necessary fees and failing to optimise the compounding of their retirement savings. This number of accounts slowly declined over the years until 2019 ...

Final YFYS regulations out, government "backflips" on admin fees

KANIKA SOOD  |  MONDAY, 9 AUG 2021
... included the shorter time-horizon for administration fees that are included in the test, and softer wording in letters that failing funds must send to their members, according to Industry Super Australia (ISA). The bill passed the Parliament on June ...

Westpac tops fee-for-no-service misconduct

KARREN VERGARA  |  THURSDAY, 5 AUG 2021
Westpac tops the charts for fee-for-no-service misconduct at $578.4 million, according to the corporate regulator. More than 71,400 Westpac customers have been affected by its failings to provide ongoing financial advice services that was promised. ...

First YFYS performance test results weeks away

KANIKA SOOD  |  MONDAY, 2 AUG 2021
... round of assessments under the performance test, APRA will engage with RSE licensees considered to be at material risk of failing the test a second time to understand their plans to improve performance, and their contingency plans to deal with the implications ...