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Showing 1 - 10 of 50 results for "CFMEU"

BUSSQ's boardroom brass cleared, CFMEU spend deemed sound

ANDREW MCKEAN  |  WEDNESDAY, 2 JUL 2025
... industry super fund BUSSQ, which has ties to the scandal-plagued Construction, Forestry, Maritime, Mining, and Energy Union (CFMEU) through its board, emerged largely unscathed from an independent report by KPMG. BUSSQ was hit with additional licence ...

Super, insurance, and bank boards' 'poor practices' targeted by APRA

ANDREW MCKEAN  |  THURSDAY, 6 MAR 2025
... review of Cbus, which found scant evidence of its relationship with the Construction, Forestry, and Maritime Employees Union (CFMEU) being in the best financial interests of members, while also findings it processes for determining the propriety of board ...

Cbus faces fresh investigation over fund expenditure practices

ANDREW MCKEAN  |  TUESDAY, 11 FEB 2025
... independent expert report by Deloitte, published last November - which found little evidence that Cbus' relationship with the CFMEU was in members' best financial interests and flagged weaknesses in the fund's director appointment processes. ...

BUSSQ loses legal bid to overturn additional licence conditions

ANDREW MCKEAN  |  MONDAY, 3 FEB 2025
... trustee in response to allegations of "serious misconduct" within the Construction, Forestry and Maritime Employees Union (CFMEU), which has three directors on the fund's 14-member board. Notably, the three CFMEU-appointed directors at Cbus - Rita Mallia ...

Super fund promotional expenses balloon: APRA

KARREN VERGARA  |  FRIDAY, 31 JAN 2025
... each. In terms of payments to industrial bodies, Cbus spent $2.2 million on sponsorships, $908,000 of which went to the CFMEU. Hostplus made $1.4 million sponsorship payments, some of which went to Australian Hotels Association and Queensland Hotels ...

Cbus lacks stringent director, expenditure policies: Deloitte

JAMIE WILLIAMSON  |  WEDNESDAY, 4 DEC 2024
An independent review by Deloitte has found little evidence to suggest Cbus' pricey relationship with the CFMEU is in the best financial interests of members. It also found the fund's processes for determining the propriety of board directors ...

Swan hits back at Bragg: 'That's wrong of you'

ELIZA BAVIN  |  FRIDAY, 29 NOV 2024
... Committee today to answer questions around the super fund's claim handling delays, governance and payments made to the CFMEU. Cbus is facing legal action from the Australian Securities and Investments Commission (ASIC) over claims handling delays ...

Swan tells Bragg he won't front parliament

ELIZA BAVIN  |  MONDAY, 25 NOV 2024
... relationship with Treasurer Jim Chalmers. "While Cbus' chief executive did indeed provide a clear answer on future dividends to the CFMEU, he was unable to shed light on the engagement of Cbus chair Wayne Swan with Chalmers," Bragg said. "Swan has been ...

Cbus confirms CFMEU nominations to board

ELIZA BAVIN  |  TUESDAY, 19 NOV 2024
... and have the personal integrity and independence of mind necessary to be effective guardians of members' savings. The CFMEU can nominate three of the 14 positions to the board, and Cbus has confirmed its nominations of Crumlin, O'Mara, and Weber ...

ASIC escalates super fund enforcement in 2025

KARREN VERGARA  |  FRIDAY, 15 NOV 2024
... Super this year made headlines with respect to their ties with the Construction, Forestry and Maritime Employees Union (CFMEU), putting into doubt the relevance of union representation on super fund boards and pointing the microscope on potential conflicts ...
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