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Showing 21 - 30 of 180 results for %22SIS Act%22

APRA sheds light on YFYS Performance Test

CASSANDRA BALDINI  |  THURSDAY, 16 JUN 2022
... is satisfied that the previously authorised MySuper product is similar to the new MySuper product under s 29TA of the SIS Act. Accordingly, APRA will in such circumstances combine the performance history of both products for the purpose of the performance ...

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
... Supreme Court to alter their trust deeds to create pools of capital - referred to as rainy day funds - required by the SIS Act amendments. "I should emphasise that it's not just the industry funds that are affected by this amendment. Retail funds ...

Hostplus hits members with new fee

ELIZABETH MCARTHUR  |  THURSDAY, 10 FEB 2022
... billion industry fund informed members that the new trustee fee is being introduced in response to recent changes to the SIS Act which broaden the type of penalties trustees and directors can incur. "As the fund and PST are operated on a profit-for-member ...

Blue Crane Capital launches fintech tool for SMSFs

CHLOE WALKER  |  WEDNESDAY, 9 FEB 2022
... 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 limit of four. Blue Crane ...

La Trobe fined for misleading investors

ELIZABETH MCARTHUR  |  MONDAY, 29 NOV 2021
La Trobe Financial has been fined for misleading investors in its $5 billion fund. The Federal Court has ordered La Trobe Financial Asset Management to pay a $750,000 penalty for false and misleading marketing of the La Trobe Australian Credit Fund ...

AMP in enforceable undertaking

JAMIE WILLIAMSON  |  TUESDAY, 16 NOV 2021
... 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 matter of Federal Court Action ...

Cbus to create rainy day fund to cover fines

ELIZABETH MCARTHUR  |  THURSDAY, 11 NOV 2021
... create provisions for any fines or penalties. "This application has been made to ensure Cbus is in compliance with the SIS Act following Hayne reforms. Other profit-to-member funds will likely need to take similar action to ensure compliance," a spokesperson ...

ASIC disqualifies SMSF auditor

ANNABELLE DICKSON  |  WEDNESDAY, 30 JUN 2021
... 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 ATO's role is ...

Schroders head of distribution exits

KANIKA SOOD  |  FRIDAY, 25 JUN 2021
Schroders' local head of distribution Graeme Mather has departed, with the business understood to not be seeking a replacement. Mather spent nearly five years at Schroders and finished up last week, Financial Standard' s sister publication Industry ...