Colonial First State ordered to pay $20M for misleading 13,000 MySuper members

Financial Services 2021-10-19 2:18 pm By Miklos Bolza | Sydney

The Federal Court has slugged wealth management firm Colonial First State Investments with a $20 million penalty for misleading almost 13,000 superannuation members about their MySuper entitlements through a “concerted campaign” that lasted two years.