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Showing 21 - 30 of 55 results for %22SIS Superannuation Industry Supervision Act%22

Royal Commission hears industry fund admitted wrongdoing to ASIC

HARRISON WORLEY  |  MONDAY, 24 SEP 2018
... $52 billion industry superannuation fund admitted to inadvertently breaching the Superannuation Industry (Supervision) Act (SIS Act) in a breach report filed with ASIC on the penultimate day of the Royal Commission's sixth round of hearings. Making his ...

APRA to reopen old wounds for CBA, IOOF

KARREN VERGARA  |  WEDNESDAY, 5 SEP 2018
... chief executive Chris Kelaher and described him as someone who "demonstrated a failure to understand the covenants under the SIS Act and obligations of a trustee under trust law." IOOF's complicated structure has been under APRA's radar since 2016. Kelaher ...

Federal Court rules partly in favour of DomaCom

HARRISON WORLEY  |  TUESDAY, 14 AUG 2018
... industry, however there are still hurdles to clear before sub-funds are not considered in-house assets or related trusts under the SIS (Superannuation Industry Supervision) Act. The full Federal Court found the Sole Purpose Test was not breached when ...

Retirement income paper open for consultation

KANIKA SOOD  |  FRIDAY, 18 MAY 2018
... advisory group to help establish the scope of a retirement covenant in the Superannuation Industry Supervision Act 1993. The SIS Act already has covenants on insurance and investment. On Budget night, Treasurer Scott Morrison flagged the upcoming release ...

SMSF trustees warned on non-compliant crypto

JAMIE WILLIAMSON  |  THURSDAY, 1 MAR 2018
... trustees of funds or multiple trustees have taken money out of the fund and put it into their exchange account, breaching the SIS Act. It's what I call driving into the pothole of the crypto road - they've done it purely because they want to get involved ...

Super trustees on notice over fund disclosure

DARREN SNYDER  |  WEDNESDAY, 5 JUL 2017
... "Transparency Information" requirements in relation to section 29QB of the Superannuation Industry (Supervision) Act 1993 (SIS Act). Transparency information (TI) requires super trustees to disclose fund executive remuneration, governance and other information ...

DomaCom chasing Federal Court exemption

JAMIE WILLIAMSON  |  MONDAY, 5 JUN 2017
... supporting a Federal Court action appealing for its sub-funds to not be considered in-house assets or related trusts under the SIS (Superannuation Industry Supervision) Act. If successful, SMSF investors with the ASX-listed fractional investment fund ...

Self-auditing SMSF auditor caught in ASIC breach

JAMIE WILLIAMSON  |  THURSDAY, 27 OCT 2016
... referred to ASIC by the Australian Tax Office under section 128P of the Superannuation Industry (Supervision) Act 1993 (the SIS Act), which requires all auditors of SMSF to be registered with ASIC to ensure they all meet the base standard of competency ...

Trio Capital compensation complete

KERRIE SYDEE  |  FRIDAY, 1 APR 2016
... (SMSF) trustees, were not covered by the compensation framework under the Superannuation Industry (Supervision) Act 1993 (SIS Act). The government has already provided $71.7 million on compensation to eligible investors. Commenting on the decision, Minister ...

ASIC warns super funds over transparency requirements

MARK SMITH  |  MONDAY, 7 SEP 2015
... short in their requirement to display certain information on their websites. The Superannuation (Industry) Supervision Act (SIS Act) and SIS regulations 2.37 and 2.38, introduced under Stronger Super reforms, require funds to display executive remuneration ...