EPISODE · May 2, 2025
Sat, 3rd May 2025
from Superannuation News Wrap · host Paige Estritori
On this week's Weekly Superannuation News Wrap, the Federal Court fines DOD Bookkeeping (formerly Equiti Financial Services) $11M for breaching remuneration rules, strengthening ASIC's resolve for increased transparency in the financial sector. In personnel changes, Leigh Gavin replaces Brett Chatfield as the new CIO of Cbus, aiming to manage 50% of all investments in-house within three years. Noted figures, such as Geoff Wilson, Karl Morris, and Andrew Pridham, express concerns on proposed taxes on unrealised capital gains for superannuation balances exceeding $3M—an action they believe could damage the Australian economy. However, ASFA acknowledges the proposal's potential merit, despite needing refinement. Finally, ASIC criticizes ten superannuation trustees for mishandling death benefit claims, with First Nations communities and vulnerable individuals especially impacted, prompting calls for industry reform.
What this episode covers
On this week's Weekly Superannuation News Wrap, the Federal Court fines DOD Bookkeeping (formerly Equiti Financial Services) $11M for breaching remuneration rules, strengthening ASIC's resolve for increased transparency in the financial sector. In personnel changes, Leigh Gavin replaces Brett Chatfield as the new CIO of Cbus, aiming to manage 50% of all investments in-house within three years. Noted figures, such as Geoff Wilson, Karl Morris, and Andrew Pridham, express concerns on proposed taxes on unrealised capital gains for superannuation balances exceeding $3M—an action they believe could damage the Australian economy. However, ASFA acknowledges the proposal's potential merit, despite needing refinement. Finally, ASIC criticizes ten superannuation trustees for mishandling death benefit claims, with First Nations communities and vulnerable individuals especially impacted, prompting calls for industry reform.
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Sat, 3rd May 2025
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