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Showing 871 - 880 of 1680 results for "Breach"

TAL hired private investigator to follow claimant: Royal Commission

KANIKA SOOD  |  THURSDAY, 13 SEP 2018
TAL went to great lengths to get out of paying insurance claims to a nurse which involved hiring a private investigator who followed her around the country, the Royal Commission heard today. Newly-appointed TAL general manager of claims Loraine van ...

Pension funds feel the heat on climate change

JAMIE WILLIAMSON  |  THURSDAY, 13 SEP 2018
... Force on Climate-related Financial Disclosures, with the AODP saying the lack of strategy and disclosure could amount to a breach of fiduciary duty to members. As part of the report, funds receive a rating ranging from AAA to D, with an X-rating reserved ...

ClearView breached anti-hawking law 300k times

KARREN VERGARA  |  MONDAY, 10 SEP 2018
The sixth round of the financial services Royal Commission heard ClearView's direct life insurance business breached anti-hawking provisions up to 303,000 times. The figure has ballooned from the 278,664 originally reported to the Commission, according ...

MLC, NULIS in court over $100m in illegitimate fees

JAMIE WILLIAMSON  |  THURSDAY, 6 SEP 2018
... deducting the fees and making said misrepresentations NULIS and MLC Nominees failed to act in the best interests of members; a breach of general law duties and the Superannuation Industry (Supervision) Act 1993. In response, NAB chief legal and commercial ...

Trustees caught in a balancing act

KARREN VERGARA  |  THURSDAY, 6 SEP 2018
The financial services Royal Commission exposed substantial breaches of fiduciary duties that show superannuation trustees have to lift their game and improve governance standards, a legal expert says. Holding Redlich partner Paul Faure told the AIST ...

APRA to reopen old wounds for CBA, IOOF

KARREN VERGARA  |  WEDNESDAY, 5 SEP 2018
APRA will dig its heels into a list of concerns magnified in the Royal Commission into superannuation that mainly involve IOOF, CBA and Suncorp. In response to the preliminary findings concluding the fifth round, APRA said the Commission unearthed new ...

SMSFA questions three-year audits

KARREN VERGARA  |  TUESDAY, 4 SEP 2018
The SMSF Association has cast doubts over the proposed three-year audit cycle for some self-managed super funds, stating the change may "undermine" the integrity of the sector. SMSFA chief executive John Maroney said the shift to three-year audits would ...

Retail super funds reject MySuper delays

KARREN VERGARA  |  TUESDAY, 4 SEP 2018
... trustees failed to regard members' interests when approving those plans. In its submission, NAB accepts there had been a breach or likely breach of section 912A(1)(a) of the Corporations Act with respect to plan service fees (PSFs) deducted from member ...

Royal Commission challenges super regulators

KARREN VERGARA  |  TUESDAY, 28 AUG 2018
... group of members were entitled to advice service that was not delivered. On 12 May 2017, StatePlus notified ASIC of the breach and has since commenced a remediation program. So far, 12,269 clients have been compensated; the total bill is forecast to ...

Life insurers take the Royal Commission stand

HARRISON WORLEY  |  TUESDAY, 28 AUG 2018
Some of Australia's prominent life insurers are preparing for time in the Royal Commission witness box, after case studies were announced for the sixth round of public hearings. TAL, CommInsure, ClearView and Freedom Insurance have been named to ...