All posts tagged "Colonial First State"
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373Australia & NZAPRA Heatmap Identifies 15 Poorly-Performing MySuper Products
An estimated 8.1 million MySuper members benefitted from a drop in total fees and costs since last year's heatmap was published.
December 20, 2022 -
387Australia & NZAustralian Court Dismisses ASIC Lawsuit Against CBA
The Federal Court ruled that ASIC failed to establish that CBA received conflicted remuneration when distributing Colonial First State's superannuation product.
October 3, 2022 -
488Australia & NZ
Australian Court Fines Colonial First State for Misleading Members
The court said Colonial First State Investments engaged in a 26-month "concerted campaign" that sought to take advantage of members.
October 20, 2021 -
345Australia & NZ
Court Finds Colonial First State Engaged in Misleading Conduct
The Federal Court found that Colonial First State misled its customers to encourage them not to transfer their superannuation to a lower cost MySuper product.
September 9, 2021 -
738Australia & NZ
ASIC Seeks Penalties from CBA, Colonial First State
Colonial First State is said to have used CBA's branches and digital channels to sell superannuation products to more than 390,000 bank customers under a revenue-sharing arrangement.
June 24, 2020 -
641Australia & NZIOOF Faces Shareholder Class Action for Misconduct Non-disclosure
Reports of potential misconduct first appeared in June 2015, followed by senate hearings and questioning from the Royal Commission, resulting in shareholder losses.
February 28, 2020 -
725Australia & NZ
APRA Imposes Licence Conditions on CBA-owned Avanteos Investments
CBA-owned Avanteos Investments charged over 2200 deceased members adviser service fees for 15 years, resulting in a total financial impact of over A$6mn.
December 13, 2019 -
757Australia & NZAustralian Banks Face ‘Largest Ever’ Class Action
A series of class actions for millions of super fund customers could cost Australian financial institutions up to A$1bn.
September 12, 2018
