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Showing 361 - 370 of 3206 results for "Scheme"

APRA alleges First Super co-chair breached director duties

JAMIE WILLIAMSON  |  FRIDAY, 6 SEP 2024
... more than 30 years. O'Connor was also on the board of First Super's predecessor, Timber Industry Superannuation Scheme (TISS), from 2006. In July 2008, First Super, TISS, and Pulp and Paper Workers Superannuation Fund (PPWSF) merged to create ...

Former Courtenay House director sentenced

MATTHEW WAI  |  TUESDAY, 3 SEP 2024
Former Courtenay House director Tony Iervasi has been sentenced to prison for 11 years, with a non-parole period of seven years, for his involvement in one of the nation's biggest Ponzi schemes. Between 13 December 2010 and 21 April 2017, Iervasi ...

E&P free of legacy issues, FUA jumps 26%

KARREN VERGARA  |  FRIDAY, 30 AUG 2024
... there is $135 million in compensation related to Dixon Advisory the advice industry now must pay for under the Compensation Scheme of Last Resort (CSLR). "So seemingly Dixon Advisory did nothing wrong and the parent company has now totally moved on," ...

South Africa readies 'two pot' pension system

MATTHEW WAI  |  WEDNESDAY, 28 AUG 2024
... preservations and access to retirement funds. The Bill introduces what is referred to as a "two pot" system. Under the scheme, from September 1, two-thirds of a person's retirement savings will be set aside and preserved until retirement. The remaining ...

Former Brisbane adviser found guilty of fraud again

MATTHEW WAI  |  MONDAY, 26 AUG 2024
... induced investors to invest in the Australian Diversified Sector Income Fund (ADSIF), an unregistered managed investment scheme. Many of the investors contributed to ADSIF through their self-managed superannuation funds. He advised his clients that it ...

New bill seeks to block investments involving Cbus

ANDREW MCKEAN  |  THURSDAY, 22 AUG 2024
... industry fund and the scandal-plagued union in the HAFF "further risks the integrity of taxpayer funds locked in the misguided scheme." He also noted even before the scheme became law, Cbus chair Wayne Swan committed $500 million to the HAFF in November ...

Super on parental leave bill hits parliament

JAMIE WILLIAMSON  |  THURSDAY, 22 AUG 2024
... superannuation fund the following year and taxed at the current superannuation tax rate of 15%. Some 180,000 families access the scheme each year; the vast majority of individuals who receive Paid Parental Leave payments are women. Modelling from Laneway ...

ASIC scraps Libertas' AFSL for unpaid compensation

KARREN VERGARA  |  TUESDAY, 20 AUG 2024
... Financial Planning's AFS Licence (AFSL) has been revoked for its failure to pay compensation as ordered by the Compensation Scheme of Last Resort (CSLR). Libertas, which went into liquidation in September 2023, failed to pay an Australian Financial ...

Super's board requirements are sound: SMC

ELIZA BAVIN  |  TUESDAY, 20 AUG 2024
Super Members Council chief executive Misha Schubert has defended the selection requirements for superannuation fund boards in the wake of the CFMEU scandal. Schubert said the shared governance model of profit-to-member funds was created with a "clear ...

FAAA to work with Treasury on CSLR

ELIZA BAVIN  |  FRIDAY, 16 AUG 2024
... (FAAA) said it has met with minister for financial services Stephen Jones to raise key concerns regarding the Compensation Scheme of Last Resort (CSLR). FAAA chief executive Sarah Abood and chair David Sharpe met with the minister to raise several issues ...