SCT

Superannuation

A superannuation fund has been censured and ordered to compensate a member for unduly delaying a rollover to his self-managed superannuation fund....

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Financial planning

Superannuation funds have been placed on notice about the dangers of their telephone consultants drifting into their area of specific personal advice, with a fund ordered...

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Superannuation

The conflicted nature of advice fees deducted from the accounts of members of bank-owned superannuation funds have been brought into question by a former member of the Su...

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Financial planning

The Superannuation Complaints Tribunal has broken new ground by ordering a superannuation fund to reimburse nearly 10 years of fees deducted from a member’s account for a...

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Policy & Regulation

The trade union representing Superannuation Complaints Tribunal personnel claims it is wrong to wrap superannuation industry complaints into a body tasked with dealing wi...

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Superannuation

Under-funding of the Superannuation Complaints Tribunal means it could still be clearing a backlog up to four years after the establishment of the Australian Financial C...

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Editorial

Mike Taylor writes that a broad cross-section of the financial services industry has voiced its concerns about a compensation scheme of last resort but few appear to be l...

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Superannuation

A superannuation fund member who relied on a financial planner’s slideshow to pursue an insurance claim has been told to pursue the planner, not the fund....

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Editorial

Mike Taylor writes that the Australian Securities and Investments Commission was fundamental to the changes being wrought on the financial services external dispute resol...

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Superannuation

The Superannuation Complaints Tribunal has confirmed that super fund rollover processes produce inevitable winners and losers....

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Life/Risk

ASIC has examined 60,000 documents as part of its CommInsure investigation and will deliver its findings by the end of the month....

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Policy & Regulation

While the Government and FOS have supported the single ombudsman scheme, the CIO has rejected the recommendation by calling it ‘vexing’....

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Financial planning

The Government has signalled its support for the recommendations of the special panel reviewing financial services external dispute resolution for a single body amalgamat...

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Superannuation

Highly complex claims processes are forcing superannuation fund members to seek lawyer assistance in making insurance claims....

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Superannuation

Superannuation funds put a strong argument to the Government for rejecting the FOS model of external dispute resolution and retaining the Superannuation Complaints Tribun...

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Never miss the latest news and developments in wealth management industry

Squeaky'21

My view is that after 2026 there will be quite a bit less than 10,000 'advisers' (investment advisers) and less than 100...

1 week ago
Jason Warlond

Dugald makes a great point that not everyone's definition of green is the same and gives a good example. Funds have bee...

1 week ago
Jasmin Jakupovic

How did they get the AFSL in the first place? Given the green light by ASIC. This is terrible example of ASIC's incompet...

1 week 1 day ago

AustralianSuper and Australian Retirement Trust have posted the financial results for the 2022–23 financial year for their combined 5.3 million members....

9 months 1 week ago

A $34 billion fund has come out on top with a 13.3 per cent return in the last 12 months, beating out mega funds like Australian Retirement Trust and Aware Super. ...

9 months ago

The verdict in the class action case against AMP Financial Planning has been delivered in the Federal Court by Justice Moshinsky....

9 months 2 weeks ago