Monthly Market Risk Update: March 2024 [SlideShare]
QMV SuperBrief Issue #29 of 2015
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relying on the information presented.
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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