Insto roundup: Malaysia pension overhaul mooted; BLF gains new head
Australian regulator sues Statewide Super and Rest Super; Kate Farrar to lead merged Energy Super and LGIA Super; KIC appointed Kim Jintae to lead absolute return team; Taiwan's BLF appoints new director-general; GIC, Temasek to benefit from tech IPO surge and more.
AUSTRALIA
The Australian Securities and Investment Commission (Asic) is suing Statewide Super and Rest Super for making false representations about fees and conditions.
Statewide Super, with A$10 billion ($7.7 billion) under management, stands accused of misleading members about insurance covers and charging for insurance that did not exist. Separately, Rest Super, a A$60 billion fund, is being sued for preventing members from switching funds, which resulted in “zombie” accounts…
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