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Showing 61 - 70 of 487 results for "Section 62"

BitConnect promoter hit with good behaviour

KARREN VERGARA  |  TUESDAY, 16 JUL 2024
The promoter of BitConnect who pleaded guilty to spruiking a fraudulent scheme has been handed a good behaviour order and escaped jail time. The District Court of New South Wales ordered John Bigatton on good behaviour for three years, starting from ...

Magellan fund to launch as active ETF

KARREN VERGARA  |  FRIDAY, 12 JUL 2024
Magellan's Global Fund (MGF) has converted to an open-class structure that will soon trade as an active exchange-traded fund (ETF) on the ASX. On July 10, the New South Wales Supreme Court approved to convert the fund from a closed-class unit to ...

First advice reform bill passes parliament

KARREN VERGARA  |  FRIDAY, 5 JUL 2024
The first tranche of the Delivering Better Financial Outcomes (DBFO) legislation passed both the upper and lower houses yesterday. Treasury Laws Amendment (Delivering Better Financial Outcomes and Other Measures) Bill aims to reduce red tape for financial ...

ATO seeks submissions on defining an 'employee'

ELIZA BAVIN  |  WEDNESDAY, 3 JUL 2024
The Australian Taxation Office (ATO) has issued a draft update to its tax ruling TR 2023/4 for consultation which determines when a person is considered an employee under the Superannuation Guarantee (Administration) Act 1992 (SGAA). The draft update ...

Panel declares 'unacceptable circumstances' for Sequoia

KARREN VERGARA  |  TUESDAY, 2 JUL 2024
The Takeovers Panel declared that rogue shareholders, which include Glennon Capital, seeking to gain control of Sequoia Financial Group were not transparent about their relationship and breached substantial shareholder laws. In an update to the ASX ...

AustralianSuper unleashes raft of investment and fee changes

ELIZA BAVIN  |  TUESDAY, 2 JUL 2024
AustralianSuper has unveiled a raft of changes to its investment exposures and fees which came into effect July 1. Across its MySuper, Choice and TTR Income products, the super fund has removed its exposure to listed infrastructure and listed property. ...

New NALE rules, AFCA's super powers passed

KARREN VERGARA  |  THURSDAY, 27 JUN 2024
Two separate laws that regulate how superannuation funds deal with non-arm's length expenses (NALE) and income (NALI) and expands the Australian Financial Complaints Authority's (AFCA) remit over super passed Parliament on June 25. Treasury ...

Super account advice fees a sticking point for advice bill: Senate inquiry

KARREN VERGARA  |  FRIDAY, 21 JUN 2024
The government committee tracking the implementation of the Delivering Better Financial Outcomes (DBFO) reforms emphasised in its final report it wants "greater legal clarity" to how advice fees are deducted from superannuation fund accounts. The Senate ...

Advice reforms draft laws consultation opens

KARREN VERGARA  |  WEDNESDAY, 12 JUN 2024
Draft regulation of the first tranche of the Delivering Better Financial Outcomes reform package is now up for consultation. Treasury Laws Amendment (Delivering Better Financial Outcomes) Regulations 2024 has five sections that aim to make access to ...

Sequoia chief learns his fate at EGM

ELIZA BAVIN  |  THURSDAY, 6 JUN 2024
Sequoia Financial Group held an extraordinary general meeting (EGM) this week to consider a resolution to remove chief executive and managing director Garry Crole. Shareholders voted against removing Crole, securing 59.95% of the votes, with 40.05% ...