Federal Court orders Active Super to pay A$10.5m over investment claims
Australia’s Federal Court ordered Active Super to pay a $10.5m penalty over investments in gambling companies and other restricted sectors while it marketed itself as an ethical fund, according to reports. ASIC said its investigation found holdings in SkyCity Entertainment Group, PointsBet Holdings and Tabcorp. The reported contraventions spanned about two and a half years.
The ruling concerns gambling-sector investments and the accuracy of ethical claims made to investors.