On 17 February 2021, the Government introduced and read a first time Treasury Laws Amendment (Your Future, Your Super) Bill 2021 (Bill). The Bill was then referred to the Senate Economics Legislation Committee with a report due on 22 April 2021.
Read MoreThe Financial Sector Reform (Hayne Royal Commission Response) Bill 2020 introduced into Parliament departs significantly from the draft legislation as it relates to advice fees in superannuation – this is likely the reason for the delayed introduction and separation from the Hayne Royal Commission Response Bill.
Read MoreIt is no longer solely the domain of lawyers and judges to interpret the regulatory obligations placed on superannuation funds. It is an increasingly important skill for senior executives, risk, compliance, and even project and IT professionals.
Read MoreWe've put together a brief summary of the measures in the Commonwealth Budget directly affecting superannuation trustees. While there is very little detail on some measures at this stage - it is enough to start thinking & planning!
Read MoreIt is no longer solely the domain of lawyers and judges to interpret the regulatory obligations placed on superannuation funds. It is an increasingly important skill for senior executives, risk, compliance, and even project and IT professionals.
Read MoreTrustees need to ‘start their engines’ now to make sure they will be compliant with the design and distribution obligations that will come into effect on 6 April 2021. A project plan needs to be developed now that incorporates product and product governance audits. And that’s before the real work begins!
Read MoreTrustees of Australian Prudential Regulation Authority (APRA) and self-managed superannuation funds alike should pay close attention to the upcoming case of McVeigh v REST, and the possibilities of either setting a precedent requiring consideration of climate change as a material investment risk or highlighting the need for more specific climate change risk focused regulation.
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