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Despite an “eye-watering” $4.7 billion paid in remediation, ASIC believes fees for no service is still an active issue and has made multiple investigations of alleged incidents.
From greenwashing allegations and interim stop orders to fines and penalties, Money Management has rounded up all the disciplinary actions faced by firms in the first half of 2023.
Insignia Financial and OnePath Custodians will pay $1.5 million for failing to direct member contributions to a MySuper product.
Hundreds of thousands of superannuation customers are losing out, staying in dud funds with high fees, according to the latest data from the industry's regulator.