NAB’s super business fronts RC
The big superannuation entity created out of the NAB’s 2016 streamlining of its superannuation business will be front and centre at the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services industry today.
Interestingly, Nicole Smith, who resigned as chair of the big NAB super trustee company in June, has been named to appear before the Royal Commission, alongside NAB’s former executive general manager of wealth products, Paul Carter.
Reports around the appearance of Smith and Carter have noted that in February, last year, the Australian Securities and Investments Commission imposed conditions on the financial services licence held by NULIS following a breakdown in internal procedures around fees for no service.
The current round of Royal Commission hearings will run for two weeks.
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