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Date Time Court finds former superannuation trustee Tidswell Financial Services failed to act efficiently, honestly and fairly On 27 July 2021, the Federal Court made declarations that Tidswell Financial Services Ltd (Tidswell), failed to act efficiently, honestly and fairly when providing financial services. The Court found that between 30 November 2016 and 14 February 2018, while it was a superannuation trustee, Tidswell: failed to adequately monitor MobiSuper Pty Ltd (Mobi), the promoter one of its superannuation sub-funds, to ensure business model risks were addressed, including prevention of false or misleading representations and the risk of giving unauthorised personal advice; and failed to comply with Prudential Standard SPS 231 Outsourcing as issued by the Australian Prudential Regulation Authority (APRA).

Justice jacksonAndrew groverAustralian prudential regulation authoritySarah courtMobisuper pty ltd mobiTidswell financial services ltdFinancial pty ltdFederal courtMobisuper pty ltdPrudential standardCorporations actChair sarah courtPty ltdRegistrable superannuation entityநீதி ஜாக்சன்ஆண்ட்ரூ தோப்பு