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Showing 51 - 60 of 291 results for "PDS"

Spirit Super rectifies regulatory breach

ANDREW MCKEAN  |  TUESDAY, 30 MAY 2023
... the industry fund acknowledged that it had inadvertently omitted some fees and costs from its product disclosure statement (PDS), resulting in a breach of RG97 legislation. This law mandates that funds disclose the amounts deducted from reserves that ...

ASIC issues more interim stop orders

CASSANDRA BALDINI  |  FRIDAY, 10 MAR 2023
... suspension, valid for 21 days, to prohibit Interactive Brokers from offering, issuing, or giving a product disclosure statement (PDS) and to stop it from providing general advice to retail clients in relation to SYEP Derivatives. The watchdog was concerned ...

Ethical, sustainable ETFs top $9bn

RACHEL ALEMBAKIS  |  FRIDAY, 27 JAN 2023
Ethical, responsible and sustainability themed ETFs crossed $9.2 billion in funds under management by the end of 2022, according to Betashares. Betashares says that by the end of 22, there were 52 ethical, responsible and sustainability-themed ETFs. ...

Generation Development Group inflows decline, FUM increases

ANDREW MCKEAN  |  TUESDAY, 24 JAN 2023
... Lonsec FUM. In a business update, Hackett announced that Generation Life will be issuing a new product disclosure statement (PDS) in the second half of the financial year. The new PDS will offer additional product features to the company's investment ...

ASIC commissioner to join Vanguard

JAMIE WILLIAMSON  |  TUESDAY, 17 JAN 2023
ASIC commissioner Sean Hughes is set to lead Vanguard Australia's legal and compliance function. Hughes was due to end his five-year term in December but will now finish up on February 3. "We are grateful for the contribution Sean has made to ASIC ...

Vanguard cops fine for greenwashing

RACHEL ALEMBAKIS  |  FRIDAY, 2 DEC 2022
... over greenwashing. Vanguard paid $39,960 to comply with three infringement notices related to product disclosure statements (PDS) for the Vanguard International Shares Select Exclusions Index Funds. ASIC noted that the Vanguard International Shares Select ...

Crescent Wealth responds to PDS error criticism

ANDREW MCKEAN  |  THURSDAY, 1 DEC 2022
Crescent Wealth has responded to a significant event notice that said the fund's estimated costs weren't calculated or disclosed correctly, calling the coverage of its errors "misrepresented." Equity Trustees, the trustee of Crescent Wealth ...

ASIC continues crack down on deceptive advertising

CHLOE WALKER  |  TUESDAY, 2 AUG 2022
... order, Fawkner cannot offer, issue, sell or transfer interests in the fund based on its existing product disclosure statements (PDS). According to ASIC, Fawkner misrepresented the performance risks of the fund in its marketing in several instances, including ...

Super fund for women closes

JAMIE WILLIAMSON  |  WEDNESDAY, 27 JUL 2022
... was only true for members with a balance of less than $21,000. Over time, FairVine increased its fees and its most recent PDS, released March 2021, showed it was more expensive than the typical not-for-profit fund, reporting a fee ratio of 1.13% on a ...

Performance test comms criticised

JAMIE WILLIAMSON  |  FRIDAY, 24 JUN 2022
... your super is in great hands', without disclosing that the product had failed the test. The Product Disclosure Statement (PDS) also had an image of a tick of approval," ASIC's review states. In another instance, ASIC said: "A trustee whose product ...