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While all care has been taken to ensure the accuracy
of the information presented, QMV Super Solutions
is not responsible for any loss or damage suffered in
relying on the information presented.
QMV Super Solutions specialise in the delivery of world-class technology
and business solutions for the superannuation and wealth management
industries. With a fresh approach to solving complex process issues, our
tailored solutions are delivered by a bright young team who are experts in
their fields, and passionate about results.
qmvsupersolutions.com
QMV
TAXATION
The Association of
Superannuation Funds of
Australia (ASFA) has confirmed
that Treasury is consulting with
its UK counterpart, HRMC, to
resolve outstanding issues
impacting Australian
Superannuation Funds following
the tax increase to UK pension
transfers (QROPS) implemented
earlier this year.
Source: Money Management
CODE OF PRACTICE
At a recent round table
discussion of industry
stakeholders, Specialist Lawyer
John Berrill called for an industry
code of practice to be
implemented for the processing
of TPD insurance claims.
Source: SuperReview
INVESTMENT
Superannuation Fund
Administrator Link Group
continues its plan to float on the
Australian share market. The
company has an estimated
worth of up to $2.5B and is
expected to raise $400M from
its primary equity raising. The
Initial Public Offering will draw
the interest of several
international investors.
Source: Australian Financial Review
FINANCIAL ADVICE
The Australian Securities and
Investment Commission (ASIC)
has released two new
Information Sheets (INFO 205 &
INFO 206) providing guidance
to Financial Advisers who
provide advice on Self-
Managed Super Funds (SMSF).
The information sheets relate to
conduct and disclosure
obligations.
Source: ASIC
APPOINTMENTS
SMSF administration specialist
Class Super has announced the
appointment of former
Shadforth Financial Group CEO,
Tony Fenning, as the final new
appointment to the Class Super
Board of Directors.
Source: Class Super
RESEARCH & ANALYSIS
UniSuper has announced it will
undertake a four-year
investigation with leading
financial academics from the
University of NSW to review the
Fund’s default investment
option and whether better
member engagement could
lead to improved returns.
Source: The Australian (Paywall)
LEGAL & COMPLIANCE
Omniwealth Services Pty Ltd this
week complied with an ASIC
infringement notice and paid a
$10,200 penalty for offences
relating to potentially
misleading claims displayed on
the company’s website. A link
to the relevant webpage was
also promoted via a social
media profile belonging to the
company’s CEO.
Source: ASIC
National Australia Bank’s wealth
management (NAB Wealth)
business has announced a
compensation package
totalling $25M to compensate
62,000 members impacted by
taxation and income estimate
errors associated with NAB
Wealth’s Navigator Wrap
Platform.
Source: ASIC
SMSF ACCREDITATION
The SMSF Association has
launched an accreditation
program targeted at all service
providers in the SMSF space.
The program was established in
response to requests from
employers in the SMSF industry.
Source: SMSF Association
SuperBrief Independent & Concise
Issue #29 of 2015: Friday, 24th
July

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QMV SuperBrief Issue #29 of 2015

  • 1. While all care has been taken to ensure the accuracy of the information presented, QMV Super Solutions is not responsible for any loss or damage suffered in relying on the information presented. QMV Super Solutions specialise in the delivery of world-class technology and business solutions for the superannuation and wealth management industries. With a fresh approach to solving complex process issues, our tailored solutions are delivered by a bright young team who are experts in their fields, and passionate about results. qmvsupersolutions.com QMV TAXATION The Association of Superannuation Funds of Australia (ASFA) has confirmed that Treasury is consulting with its UK counterpart, HRMC, to resolve outstanding issues impacting Australian Superannuation Funds following the tax increase to UK pension transfers (QROPS) implemented earlier this year. Source: Money Management CODE OF PRACTICE At a recent round table discussion of industry stakeholders, Specialist Lawyer John Berrill called for an industry code of practice to be implemented for the processing of TPD insurance claims. Source: SuperReview INVESTMENT Superannuation Fund Administrator Link Group continues its plan to float on the Australian share market. The company has an estimated worth of up to $2.5B and is expected to raise $400M from its primary equity raising. The Initial Public Offering will draw the interest of several international investors. Source: Australian Financial Review FINANCIAL ADVICE The Australian Securities and Investment Commission (ASIC) has released two new Information Sheets (INFO 205 & INFO 206) providing guidance to Financial Advisers who provide advice on Self- Managed Super Funds (SMSF). The information sheets relate to conduct and disclosure obligations. Source: ASIC APPOINTMENTS SMSF administration specialist Class Super has announced the appointment of former Shadforth Financial Group CEO, Tony Fenning, as the final new appointment to the Class Super Board of Directors. Source: Class Super RESEARCH & ANALYSIS UniSuper has announced it will undertake a four-year investigation with leading financial academics from the University of NSW to review the Fund’s default investment option and whether better member engagement could lead to improved returns. Source: The Australian (Paywall) LEGAL & COMPLIANCE Omniwealth Services Pty Ltd this week complied with an ASIC infringement notice and paid a $10,200 penalty for offences relating to potentially misleading claims displayed on the company’s website. A link to the relevant webpage was also promoted via a social media profile belonging to the company’s CEO. Source: ASIC National Australia Bank’s wealth management (NAB Wealth) business has announced a compensation package totalling $25M to compensate 62,000 members impacted by taxation and income estimate errors associated with NAB Wealth’s Navigator Wrap Platform. Source: ASIC SMSF ACCREDITATION The SMSF Association has launched an accreditation program targeted at all service providers in the SMSF space. The program was established in response to requests from employers in the SMSF industry. Source: SMSF Association SuperBrief Independent & Concise Issue #29 of 2015: Friday, 24th July