Search ResultsShowing 1 - 10 of 81 results for "SIS Act"
APRA responds to industry concerns
ELIZA BAVIN  |  THURSDAY, 28 NOV 2019
... undertake the required comparison component of the outcomes assessment for each choice product under section 52(10A) of the SIS Act." The regulator said it appreciated the challenges in undertaking the outcomes assessment in respect to choice products ...
Trustee firm, super fund in hot water
JAMIE WILLIAMSON  |  WEDNESDAY, 6 NOV 2019
... director Andrew Richard Grover. Tidswell is owned by Sargon and holds an extended public offer entity RSE licence under the SIS Act, as well as an AFSL issued by ASIC. Its model is to partner with promoters to offer new super products. While it operates ...
ASIC zeroes in on SMSF auditors
HARRISON WORLEY  |  WEDNESDAY, 6 NOV 2019
... professional association with a copy of the conditions. The three auditors were referred to ASIC by the ATO under the SIS Act, with the two organisations engaged in a close relationship over the regulation of SMSF auditors.
Former IOOF company loses court battle in timber scheme
KANIKA SOOD  |  FRIDAY, 27 SEP 2019
... individuals the regulator sought to have disqualified, including former managing director Chris Kelaher, did not contravene the SIS Act. APRA commenced the action in December 2018, seeking to impose licence conditions on IOOF and disqualify Kelaher ...
Federal Court delivers APRA, IOOF verdict
JAMIE WILLIAMSON  |  FRIDAY, 20 SEP 2019
... individuals the regulator sought to have disqualified, including former managing director Chris Kelaher, did not contravene the SIS Act. The Federal Court also awarded costs in IOOF's favour. Australian Executor Trustees was also subject to the legal ...
IOOF establishes super trustee office
HARRISON WORLEY  |  WEDNESDAY, 21 AUG 2019
... newly vested powers and directed IOOF to implement and maintain the OST or risk facing a financial penalty under the SIS Act. Recently appointed IOOF chief executive Renato Mota said the wealth manager had been working "diligently" to implement all items ...
Associations raise member outcomes concern
KARREN VERGARA  |  FRIDAY, 21 JUN 2019
... financial needs are being met, AIST said. Industry Superannuation Australia echoed the AIST's concerns. Amendments to the SIS Act means the "pre-emptive release" of draft SPS 515 does not accurately reflect the new law and requires revision; it also ...
Wills and BDBN raise adviser interest
KARREN VERGARA  |  FRIDAY, 7 JUN 2019
... offer greater planning opportunities and flexibilities that's not available in large super funds," she said. The SIS Act allows the executor or administrator of the estate to act as trustee on behalf of deceased member, she said, but this is not ...
APRA flexes new muscles
HARRISON WORLEY  |  WEDNESDAY, 22 MAY 2019
... Trustees (AET) have now been ordered by APRA to set up the OST by 30 June, or risk facing a financial penalty under the SIS Act. Today, the prudential regulator recognised IOOF has made progress towards meeting its license conditions, but said the group ...
Superannuation mergers strike oligopoly fears
KARREN VERGARA  |  TUESDAY, 23 APR 2019
... poor performers, and impose civil and criminal consequences if trustees and directors breach sections 52 and 52A of the SIS Act. "In some instances, acting in the best interests of members will require underperforming funds to merge or exit the industry. ...
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