Watch live: Wayne Swan appears at Senate economics committee; Labor congratulates Gallagher after 45 bills pass Senate in one week; Peter Dutton hugs Bill Shorten. Follow live updates.
Cbus chairman Wayne Swan says the fund’s customer service issues are shared by other funds as they largely stem from third-party administration provider Link, which is used by most of the industry. But he says he still accepts full responsibility for the failings after the corporate watchdog made it clear that shifting blame to external providers did not mean funds were not ultimately accountable for wrongdoing.
“We accept complete accountability for the outcomes, and that is why we’ve worked very hard with both the regulators and the fund to lift our practices in this area and that’s what we’re doing right now,” he says. “But you can ignore the condition of a third-party operator … I think there is a challenge with link, it’s the subject of public discussion and not just for Cbus but for other funds.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cbus: Wayne Swan apologies for Cbus failings amid Senate grillingWatch live: Wayne Swan appears at Senate economics committee; Labor congratulates Gallagher after 45 bills pass Senate in one week; Peter Dutton hugs Bill Shorten. Follow live updates.
Read more »
Cbus: Wayne Swan apologies for Cbus failings amid Senate grillingWatch live: Wayne Swan appears at Senate economics committee; Labor congratulates Gallagher after 45 bills pass Senate in one week; Peter Dutton hugs Bill Shorten. Follow live updates.
Read more »
Cbus: Wayne Swan apologies for Cbus failings amid Senate grillingWatch live: Wayne Swan appears at Senate economics committee; Labor congratulates Gallagher after 45 bills pass Senate in one week; Peter Dutton hugs Bill Shorten. Follow live updates.
Read more »
Live: ASX set to slip while European stocks rise, Cbus to face Senate grillingThe local share market could lose ground at the open, with Wall Street closed and European stocks rising. Cbus chair Wayne Swan will front a Senate committee to answer questions on claim payout delays. Follow the day's events and insights from our business reporters on the ABC News live markets blog.
Read more »
Senate probes ‘secret lobbying’ involving Treasurer Jim Chalmers and CbusChair of Economics References Committee Andrew Bragg has probed Treasurer Jim Chalmers’ decision to file a public interest immunity claim which attempted to block the release of documents detailing Cbus communications with his office.
Read more »
Former treasurer Wayne Swan hauled to inquiry over super scandalAnti-superannuation Liberal frontbencher Andrew Bragg will question Swan in a hearing over allegations Cbus mishandled $20 million of payouts.
Read more »