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Court dismisses appeal in death benefit dispute

The Full Federal Court has dismissed an appeal against an earlier court decision examining the distribution of a death benefit and the definition of a dependant. In March last year, the Federal Court

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Super Alert - 2 December 2022: Financial sector Reform Bill passes; CPS 234 requirements; SDT project; AFCA death benefit determination

Welcome to the latest issue of the KHQ Super Alert. It was a big week in Parliament this week with four Bills passed and awaiting Royal Assent, and…

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Superannuation monthly update – Regulator updates, Legislation, and Cases - Fund Management/ REITs

The update links to super regulator updates (ATO, ASIC and APRA), legislation and cases relating to superannuation.

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Westpac subsidiary BT Funds Management penalised $20 million for incorrectly charging commissions for insurance

Westpac subsidiary BT Funds Management penalised $20 million for incorrectly charging commissions for insurance
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ASIC: Westpac Subsidiary BT Funds Management Penalised $20 Million For Incorrectly Charging Commissions For Insurance In Superannuation

<p><span>The Federal Court has today ordered Westpac subsidiary and superannuation trustee, BT Funds Management Limited (BT Funds), pay a $20 million penalty for incorrectly charging commission payments to members of one of its superannuation funds.</span></p> <div><span><br /></span></div>

Bt funds management limitedMs courtAsgard fundAustralian prudential regulation authoritySarah courtAsgard independence plan division two fundFederal courtManagement limitedFinancial adviceIndependence plan division twoChair sarah courtJustice beachCorporations act