The Compliance function at UAL has the strategic objective to establish and implement an effective and measurable Compliance Program. UAL must comply with the authorisations and obligations of its Australian Financial Services Licence (“AFSL”) and the Constitutions/Trust Deeds and Compliance Plans for the Managed Investment Schemes (“MIS”) for which it acts as Responsible Entity/Project Manager/Trustee. The holder of an AFSL must always comply with the Corporations Act 2001.
The objective of the Compliance Program is to outline key processes, systems and measures that UAL apply to promote a culture of compliance, achieve measurable results, prevent compliance failures occurring, systematically identify, report on and rectify any compliance failures, comply with all regulatory requirements and complement UAL’s risk management system.
UAL endeavours to conduct its financial service activities as per ASIC regulatory guidelines and business best practice and has a suite of Compliance polices and procedures to facilitate this objective.
UAL’s Compliance Committee oversees all activities in relation to the MIS and ensures appropriate compliance measures are in place to mitigate risk to the Projects’ assets and to protect the interests of investors.
The Compliance Committee is required to meet on a regular basis to assess the adequacy of the Compliance Plans and report any breaches to the UAL Board after reviewing detailed documentation provided by the UAL management team. UAL Compliance Committee members are highly qualified and have extensive experience in the financial services industry.
Steven O’Connell is a CPA and has over 30 years of extensive finance industry experience in life insurance, asset management, custodial services, financial planning and superannuation (consulting, administration and trustee services). He has headed the compliance and risk management functions for several large multi-national asset managers.
Steven has held Company Secretary roles for several asset managers, headed custodial operations for corporate actions, reconciliations and unlisted trust management and was a key person in the eventual sale of Mellon Australia’s superannuation and administration consulting businesses in 2005. He is an experienced Director of asset management and finance companies and currently holds roles in Compliance Committees and as Responsible Manager for several leading asset management firms.
Henry (Sandy) Gilbert
Sandy Gilbert practices as a Chartered Accountant and Auditor and has over 40 years’ experience in the accounting industry. He was admitted to the Institute of Chartered Accountants in 1973 and has been a Fellow since 1983. Gaining extensive experience in auditing and accounting services over several years, he joined Rundles in 1973 where he is currently a consultant.
Bruce Dungey is a Chartered Accountant with over 40 years professional experience, providing assurance, taxation and business advisory services to a very broad range of middle market enterprises in a variety of industries, notably entrepreneurial growth companies, international private companies and High Net Worth Family Offices.
Bruce held several leadership roles with two ‘Top 4’ global accounting firms and now as a retired Partner, he is actively involved in a range of private company advisory boards and directorships. In recent years, Bruce acted as the CEO of Almond Orchards Australia Limited, which was formerly the Responsible Entity for Almond Orchards Australia Robinvale 2000 Almond Project.