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Showing 81 - 90 of 289 results for "SIS"

AustralianSuper appoints head of financial crime

KANIKA SOOD  |  WEDNESDAY, 8 JUL 2020
The country's largest superannuation fund has appointed a head of financial crime, security and resilience, reporting to its chief risk officer Paul Schroder. Tom Garcia is moving into the role after serving as AustralianSuper's head of product from ...

Australia only needs 15 super funds: Consultant

HARRISON WORLEY  |  TUESDAY, 26 MAY 2020
It is in the best interests of members for the number of superannuation funds serving Australians to be drastically reduced, according to a new report. Management consulting firm Right Lane is calling on high-cost super funds to urgently wed themselves ...

Sole purpose test poses SMSF rent relief issue

ELIZABETH MCARTHUR  |  TUESDAY, 26 MAY 2020
... to provide rent relief for struggling tenants. The prohibition against providing financial accommodation (section 65 of the SIS Act), the prohibition against dealing on a non-arm's length basis (section 109 of the SIS Act) and the in-house asset rules ...

Chief economist update: Japan reopens for business

BENJAMIN ONG  |  TUESDAY, 26 MAY 2020
It was a magnificent Monday, 25 May 2020, for Japan for on this day Prime Minister Shinzo Abe declared the country's state of emergency over. We salute you our Japanese brothers and sisters, for Japan has flattened its coronavirus curve despite ...

SISFA relaunches membership to SMSF trustees

ELIZA BAVIN  |  THURSDAY, 21 MAY 2020
Self-managed Independent Superannuation Funds Association (SISFA) has redesigned and is relaunching its membership offering for SMSF trustees. SISFA said through existing communication channels and those of new associated partners and sponsors, up to ...

No change of mind for ERS

ELIZA BAVIN  |  THURSDAY, 7 MAY 2020
... the basis of a determination that is later revoked by the ATO, APRA's view is that no breach of the payment standards in the SIS Act and Regulations will have occurred," the ATO said. "However, where a trustee makes a payment after a determination has ...

ERS can be drawn from multiple funds: ATO

ELIZA BAVIN  |  THURSDAY, 16 APR 2020
The Australian Taxation Office has clarified the rules for the Early Release Super scheme, allowing members to withdraw super from multiple funds. The ATO said while a member can only apply for one determination per financial year, they are able to ...

Hume calls for diversity in super fund mergers

HARRISON WORLEY  |  TUESDAY, 31 MAR 2020
... would prevent members accessing their money promptly, APRA's directions powers - especially sections 131D and 133 of the SIS Act, updated last year by the Parliament - gives APRA new teeth that may well be tested," she said. "For those who say 'We ...

Lack of independence must be made clear: ASIC

ELIZA BAVIN  |  TUESDAY, 10 MAR 2020
... separate entity without "express written authority" to the entity that controls the account. ASIC also recommended changes to the SIS Act for superannuation trustees, following the recommendations from the Royal Commission that advice fees from super ...

BNP Paribas hires from Vanguard

KANIKA SOOD  |  TUESDAY, 10 MAR 2020
Vanguard's institutional sales team has copped another departure, as an institutional sales manager moves to BNP Paribas' asset management business. Abdul Elhage was an institutional sales manager at Vanguard for nearly five years and left last month. ...