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Showing 421 - 430 of 2046 results for "Legislation"

APRA intensifies scrutiny of underperformers

KARREN VERGARA  |  FRIDAY, 10 SEP 2021
... Cole and executive director of superannuation Suzanne Smith, who also appeared at the inquiry, explained that the legislation mandated APRA to provide either a pass or fail. Smith said that the performance test calculations were provided to super funds ...

Legislation introduced to create Queensland mega fund

JAMIE WILLIAMSON  |  THURSDAY, 9 SEP 2021
... and QSuper's merger. On September 1, Queensland treasurer and minister for investment Cameron Dick introduced the legislation into parliament after it was delivered by both funds' boards. The bill aims to enable the merger while "protecting the existing ...

Colonial First State faces penalties for MySuper conduct

KANIKA SOOD  |  WEDNESDAY, 8 SEP 2021
... misleading or deceptive conduct by Colonial included telling its members that recent legislative changes [MySuper legislation passed in 2012 and effective in 2014] required Colonial to contact them and obtain an investment direction to stay in the FirstChoice ...

AustralianSuper skewers draft disclosure laws

JAMIE WILLIAMSON  |  MONDAY, 6 SEP 2021
The draft legislation on superannuation portfolio holdings disclosure is not in the best financial interests of members and only stands to serve rival fund managers to whom the reforms don't apply, according to AustralianSuper. In its submission to ...

NGS Super hikes fees

KANIKA SOOD  |  FRIDAY, 3 SEP 2021
... "Following much discussion and due diligence, coinciding with the introduction of the 'Your Future, Your Super' legislation that has changed the environment for all super funds, we don't believe the merger would be in our members' best ...

Family law super reform passes

ANNABELLE DICKSON  |  FRIDAY, 3 SEP 2021
The government has passed legislation intended to prevent individuals from hiding superannuation assets in family law proceedings. Treasury Laws Amendment (2021 Measure No. 6) Bill 2021 (Schedule 5) allows the ATO to share information when an individual ...

ASIC to watch member shunting to untested super products

KANIKA SOOD  |  THURSDAY, 2 SEP 2021
... "trustee-directed" products definition doesn't include many Choice products, meaning they can't be tested under current legislation. This leaves about a third of APRA-regulated funds out of the test's remit. "I'm concerned that there's a potential ...

Why are YFYS test scores a secret?

KANIKA SOOD  |  THURSDAY, 2 SEP 2021
... results as it did, and is open to how it does things differently next year. "So, we fulfilled our obligations under the legislation, which was that we publish who passes and who fails, and also the ATO's YourSuper comparison tool is really the tool ...

APRA leaves door open for benchmark tweaks

KANIKA SOOD  |  WEDNESDAY, 1 SEP 2021
... indices either via seeking approval from the government or at its own discretion. "So, there is some flexibility in the legislation process to update the indices that we use. And I think we can make proposals to the government about expanding the number ...

Greater scrutiny of choice products needed: Scheerlinck

JAMIE WILLIAMSON  |  TUESDAY, 31 AUG 2021
... super fund sits compared to others", she said. "AIST remains concerned that there is no requirement either in the legislation or regulations for all super products to be performance tested or for a fund to have passed the test before a member can be ...