Business
Rest should give ASIC sob story a rest – The Australian Financial Review
Perhaps the most extraordinary part of the civil action launched by the corporate watchdog against superannuation giant Rest is the industry fund’s reaction to…
Please. What ASIC alleges took place here isnt some series of unfortunate mistakes, but years of false or misleading representation made by Rest to its members.
ASIC says this resulted in Rest hanging on to $14.2 million in fees and it significantly increased its funds under management, so it enjoyed more of the benefits of scale than it should have had.
ASIC says that between February 2009 and May 2018 the ASIC case covers the period from March 2015 because of the statute of limitations Rest allegedly…
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