David Whiteley

Opinion

BT fined over misleading super claims

BT Funds Management has paid a $20,400 fine to ASIC after it published two misleading claims for BT Super online. In one publication that was live from June 26 to September 18 2014, it claimed BT Super had outperformed industry super funds over five years. ASIC said it was concerned the public would perceive that […]
Investment Strategy

FSI: Threat of banks gaming the system denied

The threat of banks exploiting their business relationships with employers to cross-sell retail superannuation funds has been foiled by recommendations in the Financial System Inquiry (FSI), according to Industry Super Australia. David Whiteley, chief executive of the organisation representing industry funds, noted that several sections of the report will limit the ability of banks to […]
Investment Strategy

FSI’s backing of independent trustees “unenthusiastic”

The Financial System Inquiry’s recommendation that APRA-regulated superannuation funds should have a majority of independent trustees has been branded “unenthusiastic” by Industry Super Australia. Notably the section of the report containing the recommendation, which also calls for all chairs to be independents and for an arm’s length definition of independence to apply, starts out with […]
Investment Strategy

Industry bodies in spat over governance

The Industry Super Network (ISN) and the Financial Services Council (FSC) are at loggerheads over FSC draft governance guidelines on the definition of independent directors on super funds operated by banks and insurers. ISN chief executive David Whiteley has told I&T news in a telephone interview that the FSC regulations, which he claims would allow […]