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Showing 1 - 10 of 10 results for "MasterKey Personal Super"

MLC changes super fees, adds menu

KANIKA SOOD  |  WEDNESDAY, 11 MAR 2020
... Commission, it was revealed that MLC's Master had charged $67 million in general advice fees to MLC's MasterKey Personal Super products, despite the fact not all members were told clearly they could opt out of the service. At the time, they already ...

Class action accuses NAB of super rip-off

ELIZABETH MCARTHUR  |  WEDNESDAY, 22 JAN 2020
... deducted approximately $33 million plan service fees from 220,000 members of MLC MasterKey Business and MLC MasterKey Personal Super who did not actually receive services from financial advisers in association with the products. And, NULIS Nominees is ...

NULIS satisfies ASIC requirements

HARRISON WORLEY  |  MONDAY, 16 DEC 2019
... procedures after it transferred members in a number of products to MLC MasterKey Business Super and MLC MasterKey Personal Super products in 2012 and 2013. ASIC said that while its Federal Court proceedings with NULIS over fees for no service remained ...

ASIC, MLC Nominees and NULIS in court

ELIZABETH MCARTHUR  |  MONDAY, 4 NOV 2019
... deducted approximately $33 million plan service fees from 220,000 members of MLC MasterKey Business and MLC MasterKey Personal Super who did not have Plan Adviser (No-Adviser Members). In doing so, the two organisations failed to ensure its services ...

Ten stories that defined the Royal Commission

HARRISON WORLEY  |  WEDNESDAY, 19 DEC 2018
... It was revealed earlier that $67 million in general advice fees had been charged to members of MLC's MasterKey Personal Super products, despite the fact not all members were told clearly they could opt out of the service. Looking for stories outside ...

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

JAMIE WILLIAMSON  |  THURSDAY, 6 SEP 2018
... penalty. ASIC also claims NULIS and MLC Nominees charged 220,000 members of MLC MasterKey Business and MLC MasterKey Personal Super about $33 million in Plan Service Fees despite them being No-Adviser Members. NAB also deducted about $67 million in Plan ...

NULIS names new chair

KARREN VERGARA  |  TUESDAY, 7 AUG 2018
... provided. NULIS announced on 26 July 2018 that it would stop deducting a plan service fee from the MLC MasterKey Personal Super accounts from 30 September 2018.

Royal Commission revisits fees for no service

KARREN VERGARA  |  MONDAY, 6 AUG 2018
... affected members. On July 27, MLC announced it will cease deducting general financial advice fees from its MasterKey Personal Super products after admitting it did not clearly communicate to members they could opt out of the service and estimated to ...

MLC refunds $67m in advice fees

KARREN VERGARA  |  FRIDAY, 27 JUL 2018
MLC will cease deducting general financial advice fees from its MasterKey Personal Super products after admitting it did not clearly communicate to members they could opt out of the service. About 305,000 MasterKey Personal Super (MKPS) members will ...

ASIC targets NAB super after compliance breakdown

ALEX BURKE  |  THURSDAY, 2 FEB 2017
... procedures" after members in multiple products were transferred to MLC MasterKey Business Super and MLC MasterKey Personal Super. Other highlighted issues involved changes made to death and total and permanent disablement insurance in both products. ...
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