Articles by Darin Tyson-Chan

ASIC

First court action under DDO rules

ASIC DDO

ASIC has commenced civil action in the Federal Court against Firstmac Limited, in what is the initial move of this sort against a financial product provider.

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Business News

Assetly buys SMSF admin business

Assetly SMSF administration Mclowd

Platform provider Assetly has expanded its service offering to now include SMSF administration, having recently acquired Mclowd.

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Appointments

Bowerman announces his retirement

Vanguard Robin Bowerman

Robin Bowerman will retire this month from his role as Vanguard Australia head of corporate affairs and his position on the firm’s executive team.

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Pensions

Excess pension payment rules key

Excess pension payment

SMSF trustees should establish consistent rules as to whether payments in excess of the minimum pension are treated as lump sums.

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Compliance, Documentation, Trusts

Trustee company deregistration suboptimal

Corporate trustee deregistered.

SMSFs face several adverse consequences should a fund’s corporate trustee directors allow the company in question to be deregistered by ASIC.

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Documentation

Use of digital signatures not simple

digital signatures SMSF

The use of electronic signatures to approve or execute SMSF documents is not straightforward, even though it is allowed under the Corporations Act.

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SuperStream

SuperStream issues still significant

SuperStream information

SMSF trustees are still experiencing difficulties with processing member balance rollovers via the SuperStream system on multiple levels.

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ETFs

Two new ETFs from JP Morgan

JP Morgan ETF

Two new actively managed ETFs covering environmental themes have been introduced to the market by JP Morgan Asset Management.

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ASIC, Superannuation

Former super fund executives face court

Statewide Superannuation dishonesty

Two former superannuation executives have appeared before the Adelaide Magistrates Court over allegedly contravening the Corporations Act.

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Insurance, Pensions

Insurance source may not restrict payout

insurance pension

The proceeds from life insurance cover can be treated as part of a reversionary pension even if the premiums were paid from the accumulation account.

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