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Showing 401 - 410 of 3206 results for "Scheme"

AustralianSuper bears brunt of complaints: AFCA

KARREN VERGARA  |  TUESDAY, 11 JUN 2024
AustralianSuper copped the highest number of complaints in the last six months of 2023 totalling 936, which was nearly three times more than other major super funds like Cbus, Australian Retirement Trust (ART), and Aware Super. New data from the Australian ...

CSLR makes inaugural payments

KARREN VERGARA  |  TUESDAY, 11 JUN 2024
The Compensation Scheme of Last Resort (CSLR) made its first payments to four victims totalling more than $360,000, three of which related to bad financial advice. One payout of about $145,000 related to inappropriate personal financial advice provided ...

More businesses fold, unpaid super recovery measure to launch

KARREN VERGARA  |  THURSDAY, 6 JUN 2024
... secretary Alex Mathews said that "the recovery program plays an important role in maintaining the integrity of FEG as a scheme of last resort that is not intended to relieve employers of their obligation to properly fund employee entitlements." "Since ...

Block Earner dodges massive fine

KARREN VERGARA  |  WEDNESDAY, 5 JUN 2024
... Jackman determined that while Block Earner, which invested in cryptocurrency, operated an unregistered managed investment scheme (MIS) without holding an AFS Licence (AFSL) with respect to the "Earner" product, the company was relieved of any liability ...

Ironbark partners with HarbourVest to launch fund

ELIZA BAVIN  |  TUESDAY, 4 JUN 2024
... the Ironbark HarbourVest HGPS - Diversified Private Equity Fund. The fund is an open-ended Australian managed investment scheme, that expands access to global private equity for institutional high-net worth (HNW) and wholesale investors in Australia ...

Early release of super scammers cop prison time

KARREN VERGARA  |  FRIDAY, 31 MAY 2024
Three people will go to prison after pleading guilty to defrauding the COVID-19 early release of superannuation scheme for $103,500. The Brisbane District Court sentenced three women from Queensland, whose identities were not revealed, for submitting ...

AFCA to expel Dixon Advisory

KARREN VERGARA  |  THURSDAY, 30 MAY 2024
... making its final decision," AFCA said. "AFCA can only accept complaints about firms that are current members of the AFCA scheme. Once an AFCA member is expelled, AFCA cannot accept any new complaints against that former member, however the expulsion ...

ASIC suspends AFSL for six managed investment schemes

ELIZA BAVIN  |  THURSDAY, 30 MAY 2024
The Australian Securities and Investments Commission (ASIC) has suspended the Australian financial services licence (AFSL) of Aurora Funds Management until 20 September 2024. Aurora is the responsible entity of six registered managed investment schemes ...

UK forewarns Australia on wholesale test changes

KARREN VERGARA  |  THURSDAY, 23 MAY 2024
After recently backflipping on changing its high-net-worth investor (HNWI) tests, the UK serves as a cautionary tale for Australia as it mulls overhauling its own wholesale investor thresholds. The UK government introduced new HNWI and sophisticated ...

ASIC cancels Everest Asset Management's AFSL

KARREN VERGARA  |  WEDNESDAY, 22 MAY 2024
... regulator said. Everest is intertwined with the Australian Federal Police's (AFP) investigation into money-laundering scheme under the code name "Operation Avarus-Nightwolf". The AFP alleges that seven syndicate members laundered nearly $229 million ...