Statement regarding ASIC media release

07 June 2022

Spaceship Capital has today announced the appointment of Andrew Moore as interim Chairman, while a search is made for a permanent Chair.

Mr Moore has been the CEO of Spaceship since May 2019.

Mr Moore’s appointment follows the resignation of Paul Dortkamp from the board of Spaceship Capital. Mr Dortkamp has stepped down following the finalisation of an ASIC examination into his role in the management of a software bug which affected the onboarding of a number of customers into Spaceship’s superannuation product in 2018 (the onboarding bug).

The onboarding bug meant that for a period in 2018, a number of new customers who sought to sign up to the Global Index investment option were inadvertently placed in the GrowthX investment option. 

A total of 55 affected members were subsequently collectively compensated $10,507.

The onboarding bug was identified by Spaceship in October 2018. Following internal investigation of the matter, Spaceship subsequently reported the issue to the regulator, ASIC, in February 2019.

Spaceship Super currently has almost 35,000 members.

Spaceship made system changes in October 2018 to ensure a similar incident could not happen again.

Spaceship thanks Mr Dortkamp for his 4.5 years of service.

We understand Mr Dortkamp will appeal ASIC’s decision to the Administrative Appeals Tribunal.

Media enquiries: Adam Connolly, Apollo Communications, 0417 170 084.

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