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Showing 41 - 50 of 70 results for "NULIS"

ASIC permanently bans former Apogee adviser

KARREN VERGARA  |  TUESDAY, 18 DEC 2018
... obtaining funds between $1000 and $28,000 from client superannuation accounts. This amounted to $1.4 million taken from Nulis Nominees (the trustee of the MLC Super Fund) that Saad rebated back to clients. In March 2017, Apogee and Nulis first identified ...

Aussie funds among the world's largest asset owners

KANIKA SOOD  |  MONDAY, 12 NOV 2018
... ranked 86th; TCorp ranked 92nd and QSuper secured 97th place. Master trusts and outsourced CIO models like NAB/MLC's Nulis Nominees came in at 76th with nearly $104 billion; BT Funds Management is in 87th spot with about $93 billion; Colonial First ...

NAB signals more bad advice remediation

KARREN VERGARA  |  THURSDAY, 1 NOV 2018
... this matter remain uncertain," NAB said. In addition, ASIC commenced Federal Court proceedings on 6 September 2018 against NULIS Nominees and MLC Nominees in relation to PSF. NAB has factored the outcome of this event as a contingent liability but what ...

MLC, NULIS in court over $100m in illegitimate fees

JAMIE WILLIAMSON  |  THURSDAY, 6 SEP 2018
ASIC commenced Federal Court action against MLC Nominees and NULIS today in relation to the significant advice fees charged to superannuation members despite no financial advice being provided. ASIC alleges NULIS and MLC Nominees - the current and former ...

Retail super funds reject MySuper delays

KARREN VERGARA  |  TUESDAY, 4 SEP 2018
... adviser. NAB/MLC's PSF compensation figure reached $87.1m, jumping from the $67.1m it originally reported in July. Former NULIS Nominees chair Nicole Smith, the trustee for MLC's super funds, told Hayne PSFs deducted from members NAB wasn't entitled ...

Retail super funds in hot water: Royal Commission

KARREN VERGARA  |  MONDAY, 27 AUG 2018
... document. Counsel assisting Michael Hodge said it is open to Commissioner Kenneth Hayne to find that NAB and its two trustees, Nulis Nominees and MLC Nominees, breached the Corporations Act and Superannuation Industry Act with respect to plan service ...

Super funds cop governance grilling

HARRISON WORLEY  |  TUESDAY, 21 AUG 2018
... service fees for access to a financial adviser which was never properly linked to their account, NAB superannuation trustee NULIS Nominees was questioned as to whether it was governing funds in the best interest of its members. Counsel assisting Michael ...

ASIC defends enforceable undertakings at Royal Commission

KANIKA SOOD  |  FRIDAY, 17 AUG 2018
... undertaking or licence conditions] one above the other," he said. Hodge countered this by pulling out an ASIC letter to NULIS chair Nicole Smith and Andrew Hagger that showed ASIC saying it had a preference for an enforceable undertaking. "What it reflects ...

APRA banned one person in 10 years: Royal Commission

HARRISON WORLEY  |  FRIDAY, 17 AUG 2018
... Rowell said. Hodge moved the morning's discussion to APRA's monitoring of superannuation trustees - focusing on AMP and NULIS initially. Asked whether the prudential regulator considered NAB trustee NULIS to be well-functioning, Rowell said she thought ...

Royal Commission on social media: Former Treasurer weighs in

HARRISON WORLEY  |  FRIDAY, 10 AUG 2018
As the Royal Commission turned its attention to superannuation this week, financial services executives and commentators took to twitter to have their say. The Royal Commission into banking is correct... having multiple super accounts may mean paying ...