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Search ResultsShowing 1 - 10 of 100+ results for "Product Disclosure Statements"
Responsible entity fined $2m
ELIZA BAVIN  |  FRIDAY, 20 NOV 2020
... contravened the Corporations Act on multiple occasions in authorising the issues of five defective Product Disclosure Statements (PDSs). The court has ordered Theta to pay a penalty of $2 million with respect to authorising the issue of five defective ...
ASIC delays RG97 again
KARREN VERGARA  |  THURSDAY, 10 SEP 2020
... timeframe when superannuation funds and managed investment product issuers are required to update their product disclosure statements, which originally applied to PDSs issued on or after 30 September 2020. Now, PDSs given on or after 30 September 2022 ...
Super fund expands investment exclusions
ELIZA BAVIN  |  FRIDAY, 4 SEP 2020
A $52 billion super fund has updated its product disclosure statements to exclude investment in any company that provides services to detention centres. HESTA said the change is part of its responsible investment approach and will come into effect 1 ...
Judgement delivered in binary options fraud
ALLY SELBY  |  FRIDAY, 19 JUN 2020
... from Australian customers using two trading websites. Ida and Senese also failed to issue necessary product disclosure statements for each binary option trade conducted, ASIC said, in contravention of the Corporations Act. Based in Seychelles and later ...
ASIC warns funds to clean up adverts
KANIKA SOOD  |  TUESDAY, 16 JUN 2020
... total of $2.5 billion in assets to take "corrective action", including culling old advertising, product disclosure statements and webpages comparing products to lower-risk products. The regulator also asked the seven responsible entities to clarify actual ...
Will COVID-19 kill the balanced option?
ELIZABETH MCARTHUR  |  THURSDAY, 9 APR 2020
... to fix," Dunnin said. Geffin pointed out the SRMs are often buried deep within lengthy super fund product disclosure statements. He also sees a conflict of interest in the fact that trustees assess their own SRM. Geffin wants to see the SRM for every ...
Super funds snub millions of Aussies
ELIZA BAVIN  |  THURSDAY, 27 FEB 2020
... service." "Customer enquiries typically involve reasonably complex discussions regarding contracts, product disclosure statements and other financial or technical scenarios that are often hard to clearly communicate or understand even between two native ...
The PDS is weak: Rice Warner
ELIZABETH MCARTHUR  |  MONDAY, 3 FEB 2020
New insights from Rice Warner claim product disclosure statements are weak in their ability to actually inform or protect consumers. Last year's report from ASIC on the matter said: "The over-reliance on disclosure in some ways proved an enabler of ...
ASIC launches action against AFSL, director
ELIZA BAVIN  |  WEDNESDAY, 11 DEC 2019
... Marie. "ASIC alleges that Theta and Mr Marie were responsible for authorising the issue of five product disclosure statements for the Sterling Income Trust, failing to ensure that each of them was not defective," the regulator said. ASIC said the parties ...
Super fund PDSs to include single cost of product figure
HARRISON WORLEY  |  FRIDAY, 29 NOV 2019
... costs are presented in periodic statements and now includes a single "Cost of Product" figure in product disclosure statements. The update to RG97 requires super funds and managed investment product issuers to re-group values in the re-named fees and ...
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