Yesterday
Cbus customer service provider hits back
Superannuation administration platform Link Group says it services 19 other super funds that do not face the same level of complaints as Cbus.
- Hannah Wootton
This Month
Swan says Cbus board was not too slow on payouts. ASIC disagrees
Breaking his silence on the customer service scandal engulfing the industry super fund, the chairman and Labor powerbroker said many criticisms this week were “completely inaccurate”.
- Hannah Wootton
ASX denies breaking law over CHESS status, relied on technology vendor
Exchange boss Helen Lofthouse said it is in the interests of the company and its shareholders for it to defend a case alleging misstatements about the project.
- Updated
- James Eyers
Australia’s most complained about super funds revealed
Embattled construction industry fund Cbus topped the list of major funds, new data shows, but complaints across the sector jumped last financial year.
- Hannah Wootton
- Opinion
- Opinion
There’s a simple way to simplify the red tape strangling business
The Australian Law Reform Commission has set out a blueprint to fix our financial service laws mess. It must not be allowed to gather dust.
- Glenda Hanson
Dodgy property spruikers preying on consumers at ‘industrial scale’
The corporate cop will target property spruikers and private lenders as it cracks down on operators preying on consumers feeling the brunt of economic conditions.
- Lucas Baird
ASIC warns directors could be on hook for super customer failures
The warning came as Cbus CEO Kristian Fok apologised to members but defended the fund’s deep financial links to the CFMEU.
- Hannah Wootton
M&A deals to spike ahead of merger reforms, says Corrs
The new regime is likely to capture more deals and involve longer reviews, the law firm has warned.
- Sarah Thompson, Kanika Sood and Emma Rapaport
- Opinion
- Australian economy
Is Australia regulating itself out of the tech-driven future?
The Brits have been better than us at confronting the choice between two worthy goals of public safety and innovative growth.
- Rohan Silva
Systemic customer failings in super, says ASIC
The opposition has accused the Albanese government of looking after super funds rather than their members, as ASIC warns more prosecutions are afoot.
- Hannah Wootton
- Exclusive
- Legal industry
Barristers brand anti-money-laundering laws ‘unconstitutional’
Bar associations have leant on advice from a former High Court judge in their latest effort to carve out an exemption to AML/CTF reforms.
- Maxim Shanahan
UK pension fund crisis shows super risk to markets in Australia: RBA
It is the third time in as many months that Australia’s mammoth superannuation sector has been labelled a risk to the financial system.
- Hannah Wootton
- Opinion
- Social media
Big tech should stay in the sin bin until children are safe online
New laws could be less about booting kids off platforms and more about denying companies the ability to host young users unless they prove their products are safe.
- Rys Farthing
Macquarie boss says accountability matters after ASIC jibe
After being slapped with a record fine for failing to monitor energy futures markets, the bank pledged to identify root causes and hold staff accountable.
- James Eyers
Superannuation start-up pays big for Swans, Hawks footy sponsorships
Superhero’s deals with the clubs come as the prudential watchdog cracks down on such spending by super funds.
- Hannah Wootton
October
- Updated
- APRA
Borrower claims major private credit firm sent ‘bikies’ to his house
The corporate regulator separately accused Melbourne’s Oak Capital of deliberately avoiding lending rules and making home loans disguised as company loans.
- Updated
- Primrose Riordan and Lucas Baird
Super funds fork out $423m in marketing blitz
Superannuation funds spent millions of members’ retirement savings on marketing, including sponsorships of AFL and NRL clubs.
- Hannah Wootton
APRA reveals $10.8b spending by super funds but rules out blacklists
The regulator considered a blanket ban on funds making payments to unions or advertisers, but decided against it.
- Hannah Wootton
Everything we know (so far) about how banks and insurers are using AI
It has been two years since ChatGPT burst onto the stage – and artificial intelligence is becoming more complex. An ASIC survey sheds more light on the future.
- Lucas Baird and James Eyers
Super funds told bigger must be better for customers, too
The $3.9 trillion sector needs to start making good on its promise that scale would lead to better customer service and financial outcomes for members, ASIC says.
- Hannah Wootton
