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Some regulatory roadblocks for new Retirement Income Covenant

Australia - December 6 2021 Alert to all industry and retail superannuation funds - compliance with the proposed retirement income covenant (RIC) faces two major regulatory…

Scott Donald, Tamanna Islam, Preeta Seshachari, Michael Vrisakis

State of play: ASIC releases draft updated remediation guidance

Australia - November 29 2021 On 17 November 2021, ASIC released draft updated guidance on consumer remediation for all AFS licensees, Australian credit licensees and retirement…

Tamanna Islam, David Kim, Crystal Sanders, Preeta Seshachari, Michael Vrisakis

Establishing a best financial interests decision-making framework for super trustees: BFID in practice

Australia - October 25 2021 It goes without saying that the new Best Financial Interests Duty (BFID) obligations are central to not just a superannuation trustee’s governance…

Scott Donald, Tamanna Islam, Preeta Seshachari, Ruth Stringer, Michael Vrisakis

The Best Financial Interests Duty - What does the new super duty actually require?

Australia - October 13 2021 Our last article on this topic canvassed the new best financial interests duty (BFID) in some detail (link here), particularly the breadth of the…

Scott Donald, Tamanna Islam, Preeta Seshachari, Ruth Stringer, Michael Vrisakis

FSR GPS: The best financial interests duty - super complex or super solution?

Australia - September 14 2021 This duty has been inserted into section 52(2)(c) of the Superannuation Industry (Supervision) Act 1993 (Cth) (SIS Act), amending the previous best…

Scott Donald, Tamanna Islam, Shan-Verne Liew, Ruth Stringer, Michael Vrisakis