asic
114 results tagged asic:
Death benefit failures exposed grieving families to ‘unnecessary distress’
In one "distressing" complaint, a trustee took more than 500 days to pay a death benefit of around $100,000 to a First Nations woman who was grieving the loss of her husband.
Australia has a new super fund – Boomers need not apply
The new super fund that excludes Boomers, home owners pocket record profits, and Big 4 bank launches low rate offer for refinancers. Here are five things you may have missed this week.
Active Super fined $10.5m for greenwashing
Active Super has been fined $10.5 million for falsely claiming it avoided investments in gambling, coal mining, oil tar sands, and Russian companies since the invasion of Ukraine.
AustralianSuper sued over death benefit delays
Australia's largest super fund is being sued by ASIC over the delayed processing of close to 7000 death benefit claims, with some beneficiaries left waiting four years for a payout.
‘Less revenue for us’: AustralianSuper on closing multiple accounts
Internal documents from AustralianSuper stated: "It benefits the member by stopping the $1.50 charge on their duplicate account, but for us it means less revenue."
ASIC turns up the heat on private markets
ASIC is setting its sights on the private markets sector, flagging it will pay particular attention to the surging popularity of opaque private debt investments.
Who will pay AustralianSuper’s $27 million fine?
Australia's biggest super fund has copped a $27 million fine. Where does the money for the fine come from? And who really pays?
AustralianSuper fined $27 million for ‘betraying members’
More than 42,000 beneficiaries were affected when AustralianSuper failed to promptly identify and merge members' multiple accounts from 2019 to 2023.
AMP becomes first super fund to invest in crypto
AMP Super became the first superannuation fund to add cryptocurrency to its portfolio when it invested $27 million in bitcoin this week.
Three of the biggest financial blunders in history
What happens when a bank makes a billion-dollar mistake? Or a commodities broker buys seven million barrels of crude oil after a big night on the booze?
