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Showing 1 - 10 of 321 results for "SIS"

ASIC launches action against Equity Trustees for $65m First Guardian failures

ELIZA BAVIN  |  THURSDAY, 21 MAY 2026
... proceedings against Equity Trustees last year, it determined to make an application to the government under Part 23 of the SIS Act for help in making First Guardian and Shield investors whole. "Part 23 of the SIS Act is designed for exactly these purposes ...

FEATURE: Estate planning | Best laid plans

ELIZA BAVIN  |  WEDNESDAY, 1 APR 2026
"I'm the eldest boy!" This is one of the most quotable quotes from the award-winning television show Succession, and while it is somewhat outdated for parents to leave behind their money, or legacy, to one child due solely to birth order or gender ...

FEATURE | Regulation: Picking up the pieces

KARREN VERGARA  |  TUESDAY, 24 MAR 2026
... Diversa Trustees and Equity Trustees have all announced they will tap Part 23 of the Superannuation Industry Supervision Act (SIS Act) to make their members whole, arguing the two MISs were fraudulent and they therefore do not consider themselves responsible ...

Danish pension fund dumps US bonds

JAMIE WILLIAMSON  |  WEDNESDAY, 21 JAN 2026
A Danish pension fund is divesting all US government bonds from February 1, citing the country's growing debt crisis. Akademiker Pension, the $36 billion pension fund for academics, is selling off all its US government bond holdings, to the tune ...

Small win for First Guardian victims amid platform transition

JAMIE WILLIAMSON  |  MONDAY, 5 JAN 2026
... was fraudulent. As a result, the trustee has made an application to Treasury for financial assistance under Part 23 of the SIS Act and has said it will "vigorously defend" the case brought by ASIC.

Netwealth to spend $101m compensating First Guardian victims

JAMIE WILLIAMSON  |  THURSDAY, 18 DEC 2025
... hit to net profit after tax. Netwealth confirmed it has revoked an application it had made last month under Part 23 of the SIS Act, saying it had become evident this was the only way to restore members in a timely manner. Netwealth chief executive and ...

VanEck launches fixed-rate subordinated debt ETF

RIDDHIMA TALWANI  |  MONDAY, 8 DEC 2025
VanEck will launch a fixed-rate subordinated debt ETF on the ASX on December 12. The Australian Fixed Rate Subordinated Debt ETF (FSUB) will complement VanEck's SUBD strategy first introduced in 2019. SUBD currently has a total of $3.17 billion in assets ...

ASIC takes SMSF auditor to court for continuing work despite ban

RIDDHIMA TALWANI  |  THURSDAY, 27 NOV 2025
... for acting as an SMSF auditor even after being permanently disqualified under the Superannuation Industry (Supervision) Act (SIS Act) by the regulator last year. ASIC said that Convery continued to act as an SMSF auditor for four tax agents and 56 entities ...

Equity Trustees to ask Mulino for help amid First Guardian, Shield fallout

JAMIE WILLIAMSON  |  THURSDAY, 30 OCT 2025
Equity Trustees will follow Netwealth's lead and make an application to the government under Part 23 of the SIS Act for help in making First Guardian and Shield investors whole. Speaking at the Equity Trustees annual general meeting today, managing ...

Netwealth invokes Part 23 of SIS Act in First Guardian response

JAMIE WILLIAMSON  |  MONDAY, 27 OCT 2025
... provider said it had applied to minister for financial services Daniel Mulino for financial assistance under Part 23 of the SIS Act on October 24. Part 23 of the SIS Act enables regulated super funds to make applications for financial assistance where ...
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