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Showing 1 - 10 of 301 results for "SIS"

MLC trustees to pay $65m in MySuper class action settlement

JAMIE WILLIAMSON  |  FRIDAY, 6 DEC 2024
... Supreme Court of Victoria ruled the case invalid saying prospective losses are not considered a loss under s 55(3) of the SIS Act. The case was then moved to the Federal Court, with Maurice Blackburn saying the loss came in the form of the higher fees ...

Cbus lacks stringent director, expenditure policies: Deloitte

JAMIE WILLIAMSON  |  WEDNESDAY, 4 DEC 2024
... members that they: Have not been disqualified from acting as a trustee, officer or director of a superannuation entity under the SIS Act; Are not prohibited from being an officer or director of a body corporate under the Corporations Act 2001 (Cth) ...

Monochrome launches Ethereum ETF

ANDREW MCKEAN  |  TUESDAY, 15 OCT 2024
Monochrome Asset Management has launched an Ethereum exchange-traded fund (ETF) on stock exchange Cboe Australia today. The Monochrome Ethereum ETF (IETH) aims to give investors a return that matches the price of Ethereum in Australian dollars; it has ...

APRA alleges First Super co-chair breached director duties

JAMIE WILLIAMSON  |  FRIDAY, 6 SEP 2024
... O'Connor's disqualification. The regulator alleges O'Connor breached several of the director covenants contained in the SIS Act, including those that require him to act honestly, exercise the same degree of care, skill and diligence as a ...

OnePath Custodians fined $11m for MySuper failures

JAMIE WILLIAMSON  |  MONDAY, 22 JUL 2024
... direct default member contributions to a MySuper product. This has unearthed many alleged breaches of section 29WA of the SIS Act," APRA said. APRA said that while many of the additional licence conditions have been met, it is concerned that so many ...

Industry funds defend CFMEU board ties

ANDREW MCKEAN  |  FRIDAY, 19 JUL 2024
... personalised support," BUSSQ said. BUSSQ also said that all its board directors are appointed under the requirements of the SIS Act, Corporations Act, Australian Financial Services Licence obligations, and Superannuation Prudential Standard 520 Fit and ...

First advice reform bill passes parliament

KARREN VERGARA  |  FRIDAY, 5 JUL 2024
... super funds charge for financial product advice to members. "Division 1 of this Part repeals and replaces section 99FA of the SIS Act to provide greater clarity to superannuation trustees on their existing obligations about when and on what basis a trustee ...

Aviva exits Australia, shutters fund

KARREN VERGARA  |  TUESDAY, 2 JUL 2024
Aviva Investors is shuttering its Australian office and moving operations offshore as it also terminates its strategy, the Multi-Strategy (AIMS) Target Return Fund. Aviva told investors that it has "recently made the decision to close the investment ...

Performance test covers managed accounts, SMAs: APRA

KARREN VERGARA  |  WEDNESDAY, 12 JUN 2024
... the TDPs bucket based on their product features and how they operate and interact with the requirements of the definition in SIS Regulations 1994 Regulation 9AB.2. "In practice, this is determined by the ability of the beneficiary to alter the strategic ...

Advisers shoulder massive wealth transfer

KARREN VERGARA  |  FRIDAY, 7 JUN 2024
Financial advisers shoulder much of the responsibility in helping facilitate the massive intergenerational wealth transfer that has blown out to nearly $5 trillion, according to new estimates, as recipients are largely financial illiterate and ill-prepared ...
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