Self-managed superannuation funds regulatory update: April 2013
A speech by Peter Kell, Commissioner, ASIC at the CPA Australia SMSF Conference and Expo 2013, 10 April 2013
Good morning and thank you very much for inviting me to speak today. I’m delighted to be at the CPA Australia self-managed superannuation fund (SMSF) conference and expo.
In September last year, I became one of two ASIC Commissioners responsible for heading up ASIC’s SMSF taskforce, so it’s fair to say that I have a strong interest in all things SMSF. My fellow Commissioner and joint head of ASIC’s SMSF taskforce, Greg Tanzer, will be speaking next week at your Melbourne conference.
There’s a lot that we could cover this morning. The SMSF sector is growing rapidly and more Australians than ever before are either considering or operating an SMSF. Today, however, I’d like to focus on three key things:
- the critically important role of gatekeepers in the SMSF sector. I’ll speak here about the new, limited licence for accountants and the registration of SMSF auditors
- ASIC’s focus on SMSFs and our recent review of the quality of advice provided to SMSF investors, and
- working together to ensure that the SMSF sector remains healthy, vibrant and safe for investors.