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Showing 51 - 60 of 326 results for "SIS"

The Voice is not at the expense of the economy: Chalmers

CASSANDRA BALDINI  |  FRIDAY, 13 OCT 2023
Treasurer Jim Chalmers has refuted claims that the government's push to incorporate a Voice to Parliament has come at the expense of the economy. Tomorrow, millions of Australians will hit the polls and decide if a First Nations' Voice to Parliament ...

Escala loses bid to restrain former executives

KARREN VERGARA  |  FRIDAY, 13 OCT 2023
Escala Partners failed in its bid to restrain two former senior executives who moved to LGT Crestone Wealth Management from working in financial services and soliciting clients. The Supreme Court of Victoria rejected Escala's application for interlocutory ...

Qantas Super confirms merger plans

JAMIE WILLIAMSON  |  MONDAY, 25 SEP 2023
Having reviewed its current scale and potential for growth, the $8.4 billion superannuation fund has confirmed it intends to explore merger options. Following speculation last week, Qantas Super said the board has reviewed the fund's size, growth ...

AustralianSuper sued over multiple accounts

JAMIE WILLIAMSON  |  FRIDAY, 8 SEP 2023
... and 2023, the super fund failed to have a procedure for identifying and merging multiple member accounts as required by the SIS Act; failed to efficiently identify, escalate or rectify the ongoing issue; didn't promptly identify and merge multiple ...

ASIC proposes five-year extension to DDO

ANDREW MCKEAN  |  WEDNESDAY, 16 AUG 2023
... licensee directors from the change of control and ownership provisions of the Superannuation Industry (Supervision) Act 1993 (SIS Act). Effective immediately, this exemption eliminates the need for certain RSE licensee directors to seek approval for ...

OnePath fined over MySuper bungle

JAMIE WILLIAMSON  |  WEDNESDAY, 14 JUN 2023
... by the member as to where the money should be invested. This occurred from mid-2022 onwards, the regulator said. Under the SIS Act, trustees must direct contributions to a MySuper product where the member has not advised where they should go. In addition ...

AustralianSuper mistake spurs call for regulatory intervention

ANDREW MCKEAN  |  MONDAY, 15 MAY 2023
... unintentional and contrary to the interests of members," he said. "The duty to identify duplicate accounts under section 108A of the SIS Act provides room for trustees to exclude defined benefit and income stream accounts and places the onus on the trustee ...

APRA consults on approach to combining product histories

JAMIE WILLIAMSON  |  THURSDAY, 20 APR 2023
... consulting on a draft technical determination that modifies certain return formulae for the performance test contained in the SIS regulations. "This technical determination will operate in limited circumstances by adapting the performance test to reflect ...

Digital advice association in the works

CASSANDRA BALDINI  |  TUESDAY, 11 APR 2023
... made is there are other things that will help clear the way for digital advice adoption," he said. "Her proposal to amend the SIS Act, in particular, is a recommendation that makes it clear that super funds can spend money on providing retirement advice ...

Super reform "takes away the right to be tax exempt"

ANDREW MCKEAN  |  TUESDAY, 28 MAR 2023
... unrealised capital gains tax, has drawn criticism from a top AFSL. Under the existing Superannuation Industry Supervision (SIS) regulations, retirees must draw a minimum pension amount based on their age when they start an income stream. This minimum ...