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Showing 681 - 690 of 1713 results for "Breach"

No change of mind for ERS

ELIZA BAVIN  |  THURSDAY, 7 MAY 2020
... "If a trustee makes a payment on the basis of a determination that is later revoked by the ATO, APRA's view is that no breach of the payment standards in the SIS Act and Regulations will have occurred," the ATO said. "However, where a trustee makes a ...

SMSF auditors come under fire

ALLY SELBY  |  THURSDAY, 23 APR 2020
The corporate watchdog has disqualified, suspended and added additional conditions to six different self-managed super fund auditors as it works to ensure the industry meets competency and expertise standards. Auditors from around the country suffered ...

Funds receive first ERS applications

ELIZA BAVIN  |  THURSDAY, 23 APR 2020
The ATO has confirmed the first batch of ERS applications have been sent to superannuation funds. The ATO said the implementation of the early release of super scheme for those financially effected by the COVID-19 crisis is progressing well. "We are ...

MLC Life executive joins AFCA

HARRISON WORLEY  |  FRIDAY, 17 APR 2020
A member of MLC Life's leadership team has been appointed lead ombudsman for investments and advice at AFCA. A former industry super fund has also joined the body as lead ombudsman for superannuation. MLC Life Insurance chief of customer operation Natalie ...

QSuper board takes AFCA decision to court

KANIKA SOOD  |  THURSDAY, 16 APR 2020
QSuper has appealed against an AFCA decision favouring a member complaint seeking a refund on insurance premiums in the Federal Court. QSuper member Tommy Lam last year successfully complained to the Australian Financial Complaints Authority (AFCA) ...

Major regulatory efforts delayed

HARRISON WORLEY  |  WEDNESDAY, 15 APR 2020
ASIC has been forced to delay several major pieces of its regulatory workload in order to effectively deal with the challenges of COVID-19. The corporate regulator has deferred several significant regulatory projects which were set to shake up financial ...

ASIC winds up three financial services companies

ELIZA BAVIN  |  WEDNESDAY, 8 APR 2020
ASIC has announced it recently obtained wind up orders for three financial services companies, including two financial advice businesses. The Federal Court of Australia in Melbourne handed down the orders to wind up Australasia Wealth Services and Management ...

Former financial adviser permanently banned

HARRISON WORLEY  |  TUESDAY, 7 APR 2020
A former financial adviser is the first person to be permanently banned from having any involvement in financial services or credit businesses in Australia. ASIC has used its newly sharpened teeth to permanently ban former Adelaide financial adviser ...

Charterhill founder incarcerated

ALLY SELBY  |  MONDAY, 6 APR 2020
The founder of Charterhill Group, which collapsed in 2014, has been sentenced to 10 years imprisonment, and will serve at least six of these behind bars. Charterhill Group, run by George Nowak, provided a "one stop shop" for SMSF clients; providing ...

Chief economist update: Different contagion, same fiscal policy divide

BENJAMIN ONG  |  MONDAY, 6 APR 2020
G'day inmates! Yes, Virginia, we're practically all inmates now thanks to the coronavirus pandemic that has forced almost every other government to place their citizens under house arrest. Some flaunt these government restriction, others demand ...