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Showing 61 - 70 of 289 results for "SIS"

ASIC pursues criminal charges in super

JAMIE WILLIAMSON  |  WEDNESDAY, 10 MAR 2021
... come into effect from January 2022. Until then it is only breaches under the Superannuation Industry (Supervision) Act, or SIS Act, that cannot be paid for using member money. The ban was originally slated to commence at the beginning of this year. In ...

Industry fund CIO resigns

KARREN VERGARA  |  FRIDAY, 26 FEB 2021
The investments chief of a not-for-profit fund will leave after five years in the post. LUCRF Super chief investment officer Leigh Gavin will stay until Easter with the fund, sister publication Industry Moves first confirmed. Gavin joined LUCRF in May ...

ASIC zeroes in on bad SMSF advice, conduct

KARREN VERGARA  |  TUESDAY, 23 FEB 2021
... adjusted the roles of ASIC and APRA in superannuation. From 1 January 2021, ASIC was given more powers in super under the SIS Act, having an expanded remit to better promote consumer protection, market integrity, disclosure as well as maintain reports. ...

Lack of diversity major business risk: SSGA

RACHEL ALEMBAKIS  |  WEDNESDAY, 13 JAN 2021
Racial and ethnic inequity is a systemic risk that "threatens lives, companies, communities, and our economy", according to one of the largest global fund managers. State Street Global Advisors (SSGA) president and chief executive Cyrus Taraporevala ...

ASIC takes action against La Trobe Financial

ELIZABETH MCARTHUR  |  MONDAY, 21 DEC 2020
ASIC has commenced proceedings, seeking a civil penalty against La Trobe Financial, but the latter plans to fight the claims. The regulator has taken issue with La Trobe Financial's 90 Day Notice Account and Classic 48 Hour Account. The two funds ...

New heatmap shames trustees

KARREN VERGARA  |  FRIDAY, 18 DEC 2020
... trustees have failed in their obligations to members and potentially breached the Superannuation Industry (Supervision) Act 1993 (SIS Act). Thirty-seven products assessed are performing at or above the heatmap investment benchmarks over six years; 27 ...

TelstraSuper appoints head of equities

KANIKA SOOD  |  THURSDAY, 3 DEC 2020
The $22 billion corporate superannuation fund has hired from HESTA to appoint a new head of equities, including both domestic and international stocks. Dominique D'Avrincourt will join TelstraSuper in January, Financial Standard 's sister publication ...

Climate change-focused fund introduced

RACHEL ALEMBAKIS  |  WEDNESDAY, 2 DEC 2020
Aviva Investors has launched a climate-change related fund that tilts towards companies transitioning to a low carbon economy. The Aviva Investors Climate Transition Global Equity Fund is benchmarked to outperform the MSCI All Countries World Index ...

RC recommendations closer to legislation

KARREN VERGARA  |  FRIDAY, 13 NOV 2020
... will include protecting consumers from harm and market misconduct. APRA and ASIC will share the general administration of SIS Act provisions which has consumer protection and member outcomes as their touchstone. These co-regulated provisions are either ...

Financial crime victims fume at Shipton, Crennan

ELIZABETH MCARTHUR  |  WEDNESDAY, 28 OCT 2020
... Trio fraud did ASIC help the 1000 victims that were not part of the APRA-supervised funds that were covered by Part 23 of the SIS Act. ASIC's unwillingness to help caused more harm than if there was no ASIC agent altogether." He said that ASIC had failed ...