Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 21 - 30 of 52 results for "CFMEU"

New bill seeks to block investments involving Cbus

ANDREW MCKEAN  |  THURSDAY, 22 AUG 2024
... legislation, specifically barring investments in any housing projects involving Cbus. Bragg argued that Cbus' connection to the CFMEU makes it an "untenable party" with which to do government business, adding that involving the industry fund and ...

Super's board requirements are sound: SMC

ELIZA BAVIN  |  TUESDAY, 20 AUG 2024
... 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 and single purpose" ...

'Our patience is running thin': ASIC

ELIZA BAVIN  |  THURSDAY, 15 AUG 2024
... said ASIC was concerned about accountability at the board level - a timely mention given the recent concerns around the CFMEU, Cbus and BUSSQ. "Boards of trustees need the right skills and reporting structures to oversee and deliver retirement income ...

APRA reprimands Cbus, BUSSQ over governance issues

ANDREW MCKEAN  |  WEDNESDAY, 14 AUG 2024
APRA has imposed additional licence conditions on Cbus and BUSSQ over governance concerns in the wake of the CFMEU scandal. The prudential regulator's additional licence conditions stipulate that Cbus' trustee, United Super, and BUSSQ bring ...

CFMEU fallout stokes governance debate

ANDREW MCKEAN  |  MONDAY, 12 AUG 2024
The ongoing scandal surrounding the Construction, Forestry, and Maritime Employees Union (CFMEU) has called into question the governance settings within the industry superannuation fund sector, with some suggesting boards no longer require - or benefit ...

Cbus taps ex-AustralianSuper equities chief for 'critical role'

ANDREW MCKEAN  |  TUESDAY, 6 AUG 2024
... Standard reached out to Hannemann for comment. Hahnemann's departure comes amid scrutiny over Cbus' board-level ties to the CFMEU. The fund has defended its representatives, asserting that they satisfy APRA's fit and proper standards. Nevertheless, shortly ...

Industry funds defend CFMEU board ties

ANDREW MCKEAN  |  FRIDAY, 19 JUL 2024
Industry funds BUSSQ and Cbus have defended their respective boards' close ties to the CFMEU, saying all representatives satisfy the fit and proper standards outlined by APRA. This week the Victorian branch of the Construction, Forestry and Maritime ...

Cbus scolded over 'most galling conflict' in super

ANDREW MCKEAN  |  TUESDAY, 3 OCT 2023
... "Mr Swan and his board have a duty to put the members interests first, not the political interests of the Labor Party, the CFMEU or the union movement," Bragg said. "People need to know that their trustees are acting as fiduciaries, not as politicians. ...

Tax miners, major corporates to tackle housing shortage: CFMEU

JAMIE WILLIAMSON  |  TUESDAY, 25 JUL 2023
The Construction, Forestry, Maritime, Mining and Energy Union (CFMEU) is calling for the introduction of a $28 billion annual super profits tax to close the gap in social and affordable housing. The CFMEU commissioned Oxford Independent Economics to ...

APRA probes super fund payments to unions

ANDREW MCKEAN  |  THURSDAY, 1 JUN 2023
... Andrew Bragg alluded to a specific instance involving a $2.5 million payment form a "relatively small" super fund to the CFMEU. However, Cole expressed a commitment to conducting the investigations properly, respecting due process and the rights of the ...