In the media

Government proposes work test exemption to boost super balances

Australians aged 65 to 74 with superannuation balances under $300,000, under new draft legislation, will be able to make voluntary super contributions for 12 months from the end of the financial year in which they last met the work test (4 October 2018). More...

Have fund boards ignored lessons from the Superannuation Complaints Tribunal?

One of the longest-serving members of the Superannuation Complaints Tribunal (SCT), barrister Noel Davis, has resigned his position but has taken a shot at some superannuation fund boards which he says have failed to address shortcomings identified in Tribunal determinations (4 October 2018). More...

Legal woes continue for super fund

Industry superannuation fund Rest is facing renewed scrutiny over its responsible investment practices after one of its members filed an updated Federal Court claim alleging the fund has failed to act in his best interests (3 October 2018). More...

Sensible reform key to rebuilding trust in superannuation

The superannuation industry must show leadership and make the necessary changes to better manage conflicts of interest according to The Association of Superannuation Funds of Australia (27 September 2018). More...

Published - articles, papers, reports

Should superannuation funds do more direct lending to business?

According to a new discussion paper, in the right circumstances superannuation funds could provide capital for growth to SMEs and business more generally, complementing more traditional capital sources such as banks (2 October 2018). More...

Release of the Royal Commission’s interim report into Misconduct in the Banking, Superannuation & Financial Services Industry

The interim report tabled in Parliament and the Royal Commission's hearings to date make clear that some financial institutions have fallen far short of treating Australians honestly and fairly (28 September 2018). More... More...

Government consults on stronger penalties for corporate and financial sector misconduct

The Coalition Government is committed to ensuring the Australian Securities and Investments Commission (ASIC) has the powers it needs to take strong action to protect consumers from corporate and financial sector misconduct (26 September 2018). More...

ASIC review finds unacceptable delays by financial institutions in reporting, addressing and remediating significant breaches

ASIC has identified serious, unacceptable delays in the time taken to identify, report and correct significant breaches of the law among Australia's most important financial institutions (25 September 2018). More...

Legislation

Commonwealth

Regulation

Treasury Laws Amendment (2018 Measures No. 2) Regulations 2018

These regulations amend the Superannuation Industry (Supervision) Regulations 1994 to extend the operation of SuperStream to self managed superannuation funds (28 September 2018).