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Showing 701 - 710 of 4525 results for "Trustee"

AFCA outlines systemic issues in wealth management

ANDREW MCKEAN  |  TUESDAY, 23 MAY 2023
... identified issue concerned the provision of insurance attached to super funds. An AFCA investigation uncovered a superannuation trustee that failed to uphold its legislative obligation to deliver MySuper fund members with insurance benefits, including ...

Treasury consults on giving AFCA more super powers

JAMIE WILLIAMSON  |  TUESDAY, 23 MAY 2023
... definition of a superannuation complaints under law. The case cited involved MetLife issuing a policy to a superannuation fund trustee, under which MetLife would pay a benefit to a member if they satisfied the definition of total and permanent disability. ...

APRA finalises rules for financial crisis readiness

ANDREW MCKEAN  |  FRIDAY, 19 MAY 2023
Finalising new prudential standards, APRA is aiming to bolster banks, insurers, and superannuation trustees' resilience against future financial crises. APRA hopes the new standards will equip these financial entities with strategies to counteract threats ...

Super fund blunder likely down to bad data: Podcast

CASSANDRA BALDINI  |  THURSDAY, 18 MAY 2023
Holding Redlich partner Luke Hooper says when it comes to AustralianSuper's recent intra-fund consolidation breach, it's likely the root cause lays in data entry. The recent case of AustralianSuper refunding 100,000 members it had held multiple ...

Insignia bolsters executive leadership team

ANDREW MCKEAN  |  THURSDAY, 18 MAY 2023
Insignia Financial has made several key appointments, naming a chief risk officer, chief member officer and head of superannuation. Insignia has appointed Anvij Saxena as chief risk officer and Anne Coyne as chief member officer. Saxena will take on ...

Former Mason Stevens chief sells boutique

KARREN VERGARA  |  WEDNESDAY, 17 MAY 2023
The investment management business founded by Mason Stevens' former chief executive and investments lead has been acquired by another boutique. Vincent Hua, who left Mason Stevens last year, has sold Peridot Investment Management (PIM) to AL Capital ...

E&P Investments hands over RE mandate

JAMIE WILLIAMSON  |  MONDAY, 15 MAY 2023
... Investments named K2 Asset Management as the new RE for all six schemes. It has also been selected to take on the role of trustee of the CD III Australian Wholesale Fund. E&P Investments said a range of factors led to its selection of K2, including its ...

AEP, GSFM launch Australian film fund

CHLOE WALKER  |  MONDAY, 15 MAY 2023
... excess of $1.7 billion, the vast majority of which will be spent in Australia. GSFM Screen Investments will be the fund's trustee and GSFM will also be responsible for the distribution and back-office administration of the fund. AEP was launched last ...

AustralianSuper mistake spurs call for regulatory intervention

ANDREW MCKEAN  |  MONDAY, 15 MAY 2023
... the SIS Act provides room for trustees to exclude defined benefit and income stream accounts and places the onus on the trustee to assess and determine whether consolidating accounts would be practicable in the circumstances and in the best interests ...

Industry funds' illiquid assets scrutinised

ANDREW MCKEAN  |  THURSDAY, 11 MAY 2023
The Australian superannuation system allows investors to shift between options and funds daily, raising critical questions about liquidity. Despite requirements under SPG530 - Investment Governance, public disclosure on liquidity stress-testing is relatively ...