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Showing 611 - 620 of 3320 results for "Trustees"

AMP cops $14.5m penalty over fees for no service

JAMIE WILLIAMSON  |  TUESDAY, 20 SEP 2022
... to ensure the payments ceased when members left their employer," ASIC deputy chair Sarah Court said. "Superannuation trustees should treat the penalty imposed today as an important reminder to maintain robust internal governance and assurance arrangements. ...

Inconsistencies across RIC strategies: Mercer

ANDREW MCKEAN  |  FRIDAY, 16 SEP 2022
... summaries shows a great disparity between super funds' approaches. Under the requirements of the Retirement Income Covenant, trustees set out how they'll help members with their retirement outcomes, making summaries publicly available in July. Mercer ...

APRA to modernise regulatory frameworks

ANDREW MCKEAN  |  TUESDAY, 13 SEP 2022
... to supervise and maintain. Yesterday, APRA released an information paper that sets out what banks, insurers and super trustees can expect from the program over the coming years, which includes an upcoming new guide for directors on bank boards. It also ...

ASIC concerns see 18 funds update advertising materials

JAMIE WILLIAMSON  |  THURSDAY, 8 SEP 2022
... to performance and downplaying of risks, leading 13 providers to make amendments. To date, 13 responsible entities or trustees have voluntarily updated their marketing materials across 18 managed funds, ASIC said. This includes nine registered funds ...

Super wars not over: Swan

CHLOE WALKER  |  WEDNESDAY, 7 SEP 2022
... fully understand just how important the collaborative model is, the model of employers and unions getting together as trustees on a profit-to-member model." Now, he said, super funds have got to decide how to reinvigorate the profit-to-member model ...

SMSFA calls for budget amendments

CASSANDRA BALDINI  |  WEDNESDAY, 7 SEP 2022
... should be re-worded or re-drafted to require the Commissioner of Taxation to decide that the section applies and to allow trustees to rectify transactions in certain situations," it said. The association added that removing cancellation fees that apply ...

APRA aims to bolster financial crisis response

CASSANDRA BALDINI  |  WEDNESDAY, 7 SEP 2022
... consulting on new prudential standards to strengthen the financial crisis response of banks, insurers and superannuation trustees. The regulator said the two proposed standards are aimed at ensuring entities are prepared to deal with threats to their ...

Final Royal Commission reforms to be tabled, YFYS review begins

JAMIE WILLIAMSON  |  WEDNESDAY, 7 SEP 2022
... also asking whether improvements are needed on this front, and whether the consequences have been effective in forcing trustees to take action and improve performance. The paper also discusses members' best financial interests and to what extent ...

Not enough being done to fix super gap: AIST

JAMIE WILLIAMSON  |  TUESDAY, 6 SEP 2022
In opening the Australian Institute of Superannuation Trustees' Conference of Major Super Funds, chief executive Eva Scheerlinck lamented the glacial pace of change for women when it comes to superannuation. Touching on why closing the gender super ...

Four MySuper products fail for second time: APRA

JAMIE WILLIAMSON  |  WEDNESDAY, 31 AUG 2022
... They must also return any contributions made by new members after today. APRA said it will be engaging with the four trustees to ensure members achieve better outcomes as quickly and safely as possible. In total, APRA assessed 69 MySuper products with ...