1-10 of 173 results

Joint ASIC and APRA letter to superannuation trustees, on the impact of COVID-19
Insight 02 Apr 2020

ASIC and APRA have written a joint letter to all RSE licensees reminding trustees of their obligations. Not unexpectedly, emphasis is given to the importance of reviewing and maintaining fund liquidity during this difficult period. ...

Impact of COVID-19 on superannuation
Insight 25 Mar 2020

The superannuation industry is facing some immense challenges in light of the rapidly developing COVID-19 pandemic. Early release of superannuation savings for members outlined in the Coronavirus Economic Response Package Omnibus Bill 2020 is just one aspect to consider. ...

Disclosure of fees and costs and new RG 97
Insight 13 Dec 2019

Anyone with even a passing professional interest in superannuation and funds will be familiar with 'RG 97'. For the last five years or so, the industry has been struggling to make sense of what information is required to be disclosed in a PDS and periodic statement for a superannuation fund or managed investment scheme. ASIC promised a 'facilitative approach' to supervision and Darren McShane (an independent expert) was appointed by ASIC to make recommendations to improve the regime. ...

ASIC Report 639: Why not…review and remediate?
Insight 13 Dec 2019

ASIC Report 639 Financial advice by superannuation funds was published on 3 December. It examines the ways in which superannuation funds provide financial advice to members and the overall quality of personal financial advice obtained through funds. ...

Superannuation trustees get prepared, as first reporting date to disclose portfolio holdings approaches
Insight 08 Aug 2019

After many years of deferrals, the first reporting date for superannuation funds to disclose their portfolio holdings is fast approaching, with trustees being required to disclose item-by-item ...

DDO and PYS - two cases of madness
Insight 21 Jun 2019

As a lawyer working in the field of financial regulation, I have become pretty inured to said regulation producing weird, unintended outcomes. Even so, there are two outcomes produced by recently ...

Compensating superannuation members for 'fees for no advice'
Insight 16 May 2019

Written by Partner Michelle Levy APRA and ASIC issued a joint letter to all RSE licensees entitled ' Oversight of fees charged to members' superannuation accounts ' in early April. The letter is in ...

APRA's guidance on the Protecting Your Super changes
Insight 16 May 2019

On 8 May APRA released its answers to some frequently asked questions about the Protecting Your Super changes I would politely suggest that the questions asked and answered by APRA make up a fairly small subset of the questions that are in fact being asked in some cases very frequently about the PYS ...

Considering Robo-advice
Insight 17 Apr 2019

The Australian Financial Complaints Authority AFCA the new one-stop-shop for resolving financial complaints has had a very busy first six months of operation ...

Trustees, start your reviewing! Super funds and the 'Member Outcomes Act': what needs doing, and when
Insight 17 Apr 2019

The Treasury Laws Amendment Improving Accountability and Member Outcomes in Superannuation Measures No 1 Bill 2019 was first introduced in the Senate in September 2017 One and a half years later and with significant amendments the Bill is now an Act having passed both houses of Parliament and ...