Update: The Beck decision

Supplementary NSW Supreme Court decision: 
Beck v Colonial Staff Super Pty Ltd (No.2) July 2015 decision In July this year, the NSW Supreme Court (Court) upheld a claim that the actions of the trustee of the Commonwealth Bank Officers’ Fund were void. In particular, the Court held that the deletion of a discretionary power to…

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ASIC acts on “one size fits all” rollover advice

Reflecting ASIC’s increasing focus on the adequacy of financial advice, ASIC has issued a media release about the imposition of additional licence conditions on an AFSL holder in response to deficiencies in its superannuation rollover advice activities including: failure to act in clients’ best interests failure to prioritise clients’ interests. The deficiencies appear to stem…

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