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Corporate watchdog ASIC sues Equity Trustees Superannuation over role in $160m Shield Master Fund

Australia's corporate watchdog is suing Equity Trustees Superannuation — which has $88 billion in funds under management and about 800,000 members — for its alleged role in the loss of $160 million of ...
Money Management

Super trustees not proactive with insurance explanations

The Australian Securities and Investments Commission (ASIC) is cautioning superannuation trustees to proactively consider whether income protection (IP) insurance offerings are delivering value for ...
The Australian Financial Review

Shield and First Guardian were always going to fail. Here’s how to fix it

As the Australian funds management industry deals with the fallout of the high-drama Shield/Guardian collapses, broader industry repercussions are expected. While ASIC is certainly building its case ...
Finextra

Asic calls out superannuation trustees for weak scan and fraud practices

This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. The open letter, signed by ASIC Commissioner Simone Constant, outlines ...