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Well even the leading Industry Fund isn't above shonky behaviour, as usual it will be soon forgotten. [URL unfurl="true"]https://www.smh.com.au/business/consumer-affairs/watchdog-sues-australiansuper-over-90-000-duplicate-accounts-20230908-p5e31b.html[/URL]The corporate watchdog is taking legal action against AustralianSuper, the country’s largest super fund, for failing to identify and merge duplicate accounts for about 90,000 members, charging them multiple sets of fees and insurance premiums.On Friday, Australian Securities and Investments Commission (ASIC) deputy chair Sarah Court said the regulator had commenced civil penalty proceedings against the trustee of AustralianSuper over problems that resulted in members being overcharged $69 million.
Well even the leading Industry Fund isn't above shonky behaviour, as usual it will be soon forgotten.
[URL unfurl="true"]https://www.smh.com.au/business/consumer-affairs/watchdog-sues-australiansuper-over-90-000-duplicate-accounts-20230908-p5e31b.html[/URL]
The corporate watchdog is taking legal action against AustralianSuper, the country’s largest super fund, for failing to identify and merge duplicate accounts for about 90,000 members, charging them multiple sets of fees and insurance premiums.
On Friday, Australian Securities and Investments Commission (ASIC) deputy chair Sarah Court said the regulator had commenced civil penalty proceedings against the trustee of AustralianSuper over problems that resulted in members being overcharged $69 million.
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