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Showing 81 - 90 of 136 results for "Trio"

SMSF auditor competency education push

MELANIE TIMBRELL  |  TUESDAY, 26 JUN 2012
... the market has forced increasing requirements for 'gatekeepers', concerns which were reinforced following the collapse of Trio Capital. Liz Westover, head of superannuation at the Institute of Chartered Accountants, however, said that while she supports ...

FOFA passes as industry backs professionalism

MELANIE TIMBRELL  |  THURSDAY, 21 JUN 2012
... AIST said the legislation would go "a long way to restoring consumer confidence in super and protecting fund members from Trio-style disaster." The Coalition yesterday criticised the hurried passage of FOFA through the Senate in line with a July 1 soft ...

SMSF Trustees want compensation: SPAA

BEN COLLINS  |  THURSDAY, 21 JUN 2012
... Australia has rejected calls for a levy to be imposed on SMSF trustees to fund a compensation scheme. In the wake of the Trio fraud there has been a misconception as to what the legal standing of SMSFs is when frauds occur, said Andrea Slattery, chief ...

Trio investor secures damages from adviser

BEN COLLINS  |  FRIDAY, 8 JUN 2012
A NSW woman has successfully claimed damages from her former financial adviser, after losing substantial savings in the Trio fraud. Wollongong-based legal firm RMB Lawyers told the ABC it has been representing the woman, who has a terminal illness and ...

Trio: ASIC evidence insufficient to prosecute Flader

LINDA HAUSKEN  |  WEDNESDAY, 6 JUN 2012
ASIC revealed yesterday it has insufficient evidence to prove controller of the Trio Group, Jack Flader, has breached Australian Law. The Parliamentary Joint Committee on Corporations and Financial Services inquiry into the collapse of Trio Capital ...

APRA: Third line of defence in Trio-style fraud

BEN COLLINS  |  FRIDAY, 1 JUN 2012
... Prudential Regulation Authority could have done more, deputy chairman Ross Jones has moved to distance the regulator from the Trio disaster, placing the blame with trustees and auditors. "APRA's prudential supervision has not been based on the premise ...

Industry questions RE concept after Trio collapse

MELANIE TIMBRELL  |  WEDNESDAY, 23 MAY 2012
An in-house responsible entity has been singled out as a common theme between Trio and other collective investment collapses since 2007, although industry insiders have labelled the comment a rehash of an old debate. "While the report shared around ...

SPAA: Last resort compensation scheme needed

LINDA HAUSKEN  |  WEDNESDAY, 23 MAY 2012
... address a problem that impacts the whole financial services industry, including superannuation," said Slattery. "In the case of Trio it was the product providers who committed the fraud and the compensation was paid to the APRA regulated superannuation ...

FOFA misses the mark on investment fraud

RACHEL DAVIS  |  FRIDAY, 18 MAY 2012
A finance industry lawyer has warned that the FOFA regulations will not prevent Trio, Storm and Westpoint-type disasters from occuring in the future. "There has been no real change to rules making early detection and pre-emptive enforcement easier against ...

PJC blasts Trio follow-up

MELANIE TIMBRELL  |  WEDNESDAY, 16 MAY 2012
... Services has expressed strong concern over lack of follow-up from regulators and criminal authorities in the wake of the Trio Capital collapse. In the report on the largest superannuation fraud in Australian history, costing investors $176 million in ...