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Showing 351 - 360 of 3963 results for "Law"

Multiple account bungle costs AustralianSuper $27m

KARREN VERGARA  |  FRIDAY, 21 FEB 2025
... Judge Hespe found that AustralianSuper failed to promptly identify and merge members' multiple accounts in the way the law required for the period between 13 March 2019 and 11 May 2023. Some 42,551 beneficiaries were affected. ASIC instigated action ...

Bragg accuses ASIC of secrecy

ELIZA BAVIN  |  THURSDAY, 20 FEB 2025
... focused on holding trustees to account for ensuring the delivery of those services meet the fair expectations and standards of law of their members. "As part of that, we are just about to release an extensive report with one year's worth of data ...

BUSSQ handed stricter licence conditions by APRA amid appeal

ANDREW MCKEAN  |  THURSDAY, 20 FEB 2025
... in respect to potential findings and remediation activity, when the most suitable arbiter of compliance with superannuation law is APRA itself, especially when APRA has examined these specific matters with BUSSQ in the recent past, with no evidence of ...

AustralianSuper warns outdated tax laws will hurt returns

ANDREW MCKEAN  |  WEDNESDAY, 19 FEB 2025
AustralianSuper has called for a modernised tax system, warning that without reform super funds will at the very least be bogged down by complexity and compliance costs - and likely left at a competitive disadvantage that could drag on returns. In its ...

Senate calls to overhaul super fund boards

ELIZA BAVIN  |  FRIDAY, 14 FEB 2025
... by mandating additional skills requirements for directors." The report noted that super trustee boards are not required by law to have independent directors or an independent chair. "The committee believes this needs to change to ensure that that the ...

Industry fund insurance bungle adds fuel to mounting outrage

ANDREW MCKEAN  |  THURSDAY, 13 FEB 2025
Rest is the latest fund to botch its handling of insurance - this time for incorrectly charging uninsured members for coverage - adding to a growing pile of industry failures. Rest's mishandling comes as other major superannuation funds have been caught ...

FSCP deregisters adviser for two years

KARREN VERGARA  |  WEDNESDAY, 12 FEB 2025
A financial adviser who provided "incompetent" SMSF advice has been barred from practising in the industry for two years by the Financial Services and Credit Panel (FSCP). Glenn Paul Meilak helped clients set up SMSFs in a way that was "systemic" and ...

Finance workers worry about job displacement from AI, government urged to take action

KARREN VERGARA  |  WEDNESDAY, 12 FEB 2025
... technology." One recommendation is to amend the Fair Work Act to ensure decision making using AI and ADM is covered under the law so that employers remain liable for these decisions. Another recommendation is for the collaboration of government, employers ...

Treasury consults on genetic test ban in life insurance

JAMIE WILLIAMSON  |  WEDNESDAY, 12 FEB 2025
The industry can now provide feedback on the proposed ban on the use of adverse genetic test results in life insurance, with Treasury commencing consultation today. Treasury has opened consultation on the complete ban, which was announced in September ...

BUSSQ loses legal bid to overturn additional licence conditions

ANDREW MCKEAN  |  MONDAY, 3 FEB 2025
Industry superannuation fund BUSSQ has lost its legal challenge against APRA, with the Federal Court dismissing its bid to overturn additional licence conditions. Last August, APRA imposed additional licence conditions on BUSSQ's trustee over concerns ...