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Showing 41 - 50 of 64 results for "Nulis"

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 ...

NAB CEO apologises over super failures

HARRISON WORLEY, DARREN SNYDER  |  FRIDAY, 10 AUG 2018
... in this case is we haven't done that." On Wednesday, senior counsel assisting Michael Hodge put forward the case that NULIS Nominees - the trustee of MLC and NAB super products - did not act in the best interests of members. He said there had been ...

We have won the battle, not the war: AustralianSuper CEO

HARRISON WORLEY  |  THURSDAY, 9 AUG 2018
... have diminished economies of scale available to the fund to deploy on their behalf." Earlier today the commission heard NULIS struggled to manage conflicts of interest between itself and NAB Wealth, in dealing with the plan service fee issue. Counsel ...

Conflict of interest too great for NULIS: Royal Commission

HARRISON WORLEY  |  THURSDAY, 9 AUG 2018
Conflicts of interest between NULIS and NAB Wealth were too great for the superannuation trustee to manage, the Royal Commission has heard today. Counsel assisting Michael Hodge suggested to former NULIS chair Nicole Smith the trustee "simply couldn't ...

MLC MySuper investment budget was tight-fisted: Royal Commission

KANIKA SOOD  |  WEDNESDAY, 8 AUG 2018
NULIS Nominees resisted increasing its spend on investment management, despite opinions from its super fund portfolio manager and asset consultant that its current investment fee budget wasn't adequate to boost the performance of its lagging MLC ...

NAB compensation delays hopelessly conflicted: Royal Commission

KARREN VERGARA  |  WEDNESDAY, 8 AUG 2018
... into superannuation heard. This is the observation of Senior Counsel Assisting Michael Hodge as he grilled former chair of NULIS Nominees, Nicole Smith. Hodge said NAB's wealth division continued to deduct planned service fees (PSF ) from members ...

Former NULIS chair faces Royal Commission

KANIKA SOOD  |  TUESDAY, 7 AUG 2018
... superannuation entities has denied MLC tried to bill other services in order to claim advice fees. Nicole Smith was the NULIS Nominees chair from 2013 to 2018, and she faced the Royal Commission this afternoon as it resumed hearings on day two of the ...