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| | | ... two years, reinforcing the need for stronger oversight of advice fee deductions. It is calling for fee caps, enhanced trustee oversight, greater transparency across super products, minimum balance thresholds and warning mechanisms for SMSFs, and faster ... |
| | | | ... members. ASIC chair Sarah Court said the systemic deficiencies and conduct identified were inappropriate for a superannuation trustee of Mercer Super's size and market position. "These failures undermined a critical safeguard designed to protect ... |
| | | | ... weak, ill-defined and inconsistent investment option selection criteria. The most recent action was taken against the trustee for the HUB24 Super Fund, HTFS Nominees. ASIC commissioner Simone Constant said there was no excuse for the troubling lack of ... |
| | | | ... knowing the fund is in great shape, and I sincerely thank the board of trustees, the executive team, and everyone in the trustee office for building such a strong culture and making REI Super a truly terrific place to work." |
| | | | The Queensland industry fund has welcomed a cyber security expert to its board of trustees, bolstering its oversight on heightened cyber security risk. Matthew Rowan has joined the board as a director; he has been an expert committee member since August ... |
| | | | ... frameworks and practices, including oversight of platform investment options made available to members. Diversa acts as trustee for 10 registrable superannuation entities and has approximately 291,000 member accounts and over $15 billion in funds under ... |
| | | | The Australian government is backing the Greens' policy to put a stop on self-managed superannuation funds (SMSFs) from purchasing residential properties with any capital assistance, arguing the sector is currently gating nearly two million properties ... |
| | | | ... together with its sub-plans, YourChoice Super and AusPrac, were exposed to First Guardian between 2020 to 2024. Diversa, as trustee of the super funds, failed to enforce a 50% holding limit it imposed for First Guardian, ASIC alleged, and failed to have ... |
| | | | ... improvement ASIC's scathing review of the death benefit claims-handling process released in March 2025 found not one trustee tracked the life of a claim from start to finish. Among the major trustees, ASIC uncovered excessive delays and poor service ... |
| | | | ... of its super business early this year. It said this is part of a strategic repositioning to focus on its core corporate trustee services and trustee and wealth services businesses. ASIC recently commenced a second proceeding in the Federal Court against ... |
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