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Showing 541 - 550 of 3206 results for "Scheme"

Director charged over illegal investment scheme

JAMIE WILLIAMSON  |  THURSDAY, 8 JUN 2023
A former financial adviser is facing several charges of dishonest conduct and dealing in proceeds of crime after he convinced clients to open SMSFs to invest in businesses he owned, all while operating unlicensed. Ashley Vincent Arandez fronted the ...

APRA probes super fund payments to unions

ANDREW MCKEAN  |  THURSDAY, 1 JUN 2023
... forecast to reach $30 million by 2030. "These payments are not solely for 'directors fees'," he said. "This is an illegal scheme designed to syphon retirement savings from super funds to the unions. "The lack of enforcement action has become a joke." ...

Martin Fahy to step down as ASFA chief

CASSANDRA BALDINI  |  FRIDAY, 26 MAY 2023
... transformational and turbulent period in the sector. "... including the Protecting Your Super reforms, the COVID-19 early release scheme, the introduction of the Your Future, Your Super (YFYS) performance measures, and the legislated move to 12% Superannuation ...

Melissa Caddick declared dead by coroner

JAMIE WILLIAMSON  |  FRIDAY, 26 MAY 2023
... not be confirmed. Caddick went missing in November 2020 following a raid on her home by ASIC in relation an alleged Ponzi scheme she had been running for some time. In all, she is suspected of swindling investors out of as much as $30 million. Three ...

ASIC revokes Centurion subsidiary licence, suspends fund manager

ANDREW MCKEAN  |  WEDNESDAY, 24 MAY 2023
ASIC has cancelled the AFSL of Centurion Custodian Funds Management and suspended Huntley Management for non-compliance. The AFS licence of Centurion Custodian Funds Management, a subsidiary of Centurion, has been cancelled effective from January 18. ...

BNPL to be regulated under Credit Act

CASSANDRA BALDINI  |  MONDAY, 22 MAY 2023
The government has handed down its plan to regulate buy now, pay later (BNPL) providers and products under the Credit Act to strengthen consumer outcomes. Historically, BNPL schemes have been exempt from tough regulation as they do not charge interest ...

Investment fraud accomplice charged

CASSANDRA BALDINI  |  MONDAY, 22 MAY 2023
The executive assistant of former Perth unlicensed investment scheme boss Chris Marco has been charged with 34 counts of enabling or aiding fraud. Linda Marissen appeared in the Perth Magistrates Court after it was alleged that she helped Marco defraud ...

E&P Investments hands over RE mandate

JAMIE WILLIAMSON  |  MONDAY, 15 MAY 2023
Following a call for expressions of interest, E&P Investments has selected a new responsible entity (RE) for six of its managed investment schemes. In March, E&P Investments sought to replace itself as RE of the US Masters Residential Property Fund ...

AFCA tallies up COVID-19 complaints

JAMIE WILLIAMSON  |  FRIDAY, 12 MAY 2023
... received, by product line, 1427 or 8% were related to superannuation. AFCA attributed this to the Early Release of Super Scheme. A further 438 related to investments (3%), and 154 were over life insurance (0.9%). The bulk of complaints were in relation ...

Industry funds' illiquid assets scrutinised

ANDREW MCKEAN  |  THURSDAY, 11 MAY 2023
... said. Albeit the complexity of measuring liquidity, Bradley explained the Corporation Act provides a guideline, stating a scheme is liquid if 80% of its value encompasses liquid assets. "In the absence of explicit guidance, the best we can hope for is ...