why is it so?

From Submission 201 by Industry Super Australia in front of the Committee on 20th February:
I would dearly wish to know as to why MFS/PIF is not included in this table. With 10,300 plus members?
Statistics don't lie and PIF story must be told.
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Table 1 – Financial collapses in Australia between 2006-2010

Company / Year of Collapse / Scandal broke /
Scheme Commissions and Fees / Clients Affected /
Total Losses

Storm Financial 2009 Margin lending/
Financial Planning
6-7% upfront commission
with two trail commissions
of between 0.22 – 0.385%
and 0.33% pa.1 Volume
based rebates also paid.
14,000 2 $830 million3

Timbercorp / Great
Southern
2009 Managed
Investment
Schemes (MIS)
10% up front commission,
ongoing fixed based fee, and
27.5% performance fee 4
18,000 5 (Timbercorp)
47,000 (GS)6 $3 billion+7

Opes Prime 2008 Non-standard
margin loan, or
‘equity finance scheme’
trail commissions of up to
0.75% to referring brokers8
1,200 retail customers9
up to $1 billion 10

Bridgecorp 2007 Property
Investment
Unknown 14,500 11 $459 million 12

Westpoint 2006 Margin Lending 10% up front commission 13 3,524 14 $388 million15

Fincorp 2007 Property
Investment
$3 million in fees16 8,10217 $201 million18

Trio/Astarra 2009 Corporate and
Retail Super
4% up front commission19
and 1.1% trail commission20
Additional volume rebates
also paid to advisers21
6,000 approx.22 $176 million23

Commonwealth Financial Planning Limited
2009-2010 Financial Planning Unknown. But there was
report of trailing
commissions of 0.44% -
0.83%24
1,127 clients
receiving
compensation25
$50 million in
compensation.
Actual losses
unknown.
Source: All data are taken from publicly available sources which are provided in the end notes.
2 Parliament