All posts tagged "Superannuation"
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456Australia & NZASIC 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 -
2.7KAustralia & NZATO Warns of Penalties for Wrongful Early Super Withdrawal
The ATO is using income tax returns and other data to ascertain whether applicants are in fact eligible. Those making false statements to meet the eligibility criteria will face penalties.
June 22, 2020 -
1.9KAML / KYCAre Criminals Winning at Covid-19? Not Without a Fight
Advances in digital identification technology can mitigate the unpleasant rise in pandemic-related financial crime. A top regulator, banker and lawyer join forces with Refinitiv to discuss how.
May 27, 2020 -
438Australia & NZAustralian Makes Tax Relief for Merging Super Funds Permanent
Financial Services Council chief Sally Loane welcomed the move, but expressed disappointment with changes that may create another tax compliance burden for managed funds.
May 16, 2020 -
637AML / KYCATO to Run Additional Checks to Prevent Superannuation Fraud
Australia's superannuation early access scheme was temporarily suspended late last week due to fraud. It has since resumed, with enhancements to increase the end-to-end security.
May 12, 2020 -
590AML / KYC
Australian Police Launch Probe into Super Fund Early Release Fraud
Five search warrants have so far been executed in relation to the fraud, and bank accounts containing AUD 120,000 in stolen super money have so far been frozen.
May 8, 2020 -
422Australia & NZSuper Funds Pay Out A$1.3b in First Week of Early Release Scheme
The Association of Superannuation Funds of Australia estimates that super funds may have paid out A$7.1bn in total, including the second week of the initiative.
May 4, 2020 -
1.3KAsia-PacificAsian Pensions Under Pressure on Early Withdrawals
The trade-off between the needs of today and the desires of tomorrow is challenging the retirement savings systems in Asia as Covid-19 forces early withdrawals.
April 27, 2020 -
488Australia & NZ
APRA Announces Reporting Requirement for Early Superannuation Release
RSE licencees are asked to complete and submit APRA’s new Early Release Initiative data collection form on a weekly basis. The first data collection is due on 20 April.
April 21, 2020 -
364Australia & NZASIC Eases Financial Advice Rules to Facilitate Super Withdrawals
Under ASIC relief, advice providers, tax agents and superannuation trustees are allowed to advise consumers on early withdrawals of their superannuation savings.
April 15, 2020
