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HESTA fined for ‘misleading’ ads on performance

Superannuation fund HESTA has paid a $48,600 fine for using out-of-date figures in marketing that the corporate watchdog claimed could have misled customers into believing its main product had been performing significantly better than it was.

ASIC deputy chair Sarah Court. Elke Meitzel

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Hannah Wootton is a Rear Window columnist, based in Melbourne. Connect with Hannah on Twitter. Email Hannah at hannah.wootton@afr.com
Lucy Dean writes about wealth management, personal finance, lifestyle and leisure, based in The Australian Financial Review's Sydney newsroom. Connect with Lucy on Twitter. Email Lucy at l.dean@afr.com

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    Original URL: https://www.afr.com/wealth/superannuation/hesta-fined-for-misleading-ads-on-performance-20231110-p5ej1a