Firstchoice Fund News Today

Despite reporting bumper profits this morning, Commonwealth Bank continues to put out fires from its misconduct stemming from the Hayne Royal Commission, as it looks to tackle several class actions in 2023.

The Federal Court has ordered Colonial First State Investments Limited (Colonial), as trustee for the Colonial First State FirstChoice Superannuation

The Federal Court has ordered Colonial First State Investments Limited to pay a penalty of $20 million for misleading communications with members.

Colonial First State has been ordered to pay a $20 million penalty by the Federal Court for “misleading communications with members”. After been found guilty of misleading superannuation members

The Federal Court has ordered Colonial First State Investments Limited to pay a penalty of $20 million for misleading communications with members.

Colonial First State will pay $20 million for misleading members in its FirstChoice Fund.

After it took ‘advantage’ of investors ‘whose interests it was duty-bound to protect’