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ASIC sues REST Super for misleading conduct – The Australian Financial Review

The corporate watchdog has accused the $60 billion industry fund of misleading and deceptive conduct, alleging it tried to stop members transferring their savings…



REST also told members that if their employer was happy to contribute to their new fund, they would need a signed declaration giving consent to the move and evidence that contributions to REST had ceased, ASIC alleges.
The super fund, which is backed by the Shop, Distributive and Allied Employees Association, also told members they needed to obtain a separation certificate or proof of employment termination from their employer if they wanted to transfer their balance to another fund.
Each of these…

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