More employees are now able to choose a super fund for the first time under new laws introduced by the Australian Government from 1 July 2005. Employees | Employers | Professional advisers ASIC releases about choice of superannuation
Super choice - Meeting your obligations
This whole of government publication provides an overview of the obligations of employers, superannuation trustees and financial advisers under the choice of superannuation initiative. It also sets out the compliance approaches of the Tax Office, ASIC and APRA.
Professional advisers
Super choice - Meeting your obligations
This whole of government publication provides an overview of the obligations of employers, superannuation trustees and financial advisers under the choice of superannuation initiative. It also sets out the compliance approaches of the Tax Office, ASIC and APRA.
ASIC's Super Strategies 2006 - 07
ASIC Chairman Jeffrey Lucy covers the development of the superannuation regulatory structure, challenges confronting the industry, and ASIC's role in relation to compliance, facilitating business and protecting consumers, in an address to the Association of Superannuation Funds of Australia.
Survey finds quality of advice on super still needs improvement
We have released the results of our 'shadow shopping' survey on superannuation advice. The purpose of the survey was to assess whether the advice given to consumers after the introduction of Super Choice complied with the law. Media release 06-104, 6 April 2006
Monitoring advertising in superannuation
A report about media advertising of superannuation. Statistics from our monitoring by month, medium and sector, July 2004 to November 2005 (PDF file, 91 KB).
Super Choices: Multilingual translations now available
The Chinese, Vietnamese, Russian, Korean, Turkish and Arabic-speaking communities in Australia will benefit from our release of translated versions of our popular free guide to superannuation choice. Media release 05-226, 3 August 2005
Promoter of early release super scheme sentenced
Mr Arkady Sittczenko, of Ipswich in Queensland, was sentenced on Friday 29 July 2005 to 18 months jail, wholly suspended upon entering into a recognisance of $4,000 to be of good behaviour for five years, after pleading guilty in the Southport District Court to 11 counts of dishonestly inducing persons to deal in financial products following an investigation by ASIC. Media release 05-222, 1 August 2005
ASIC shuts down self-managed superannuation adviser
We've obtained interim orders in the Supreme Court of Victoria restraining Mr Shaun Oliver White, and nine related companies, from carrying on a business relating to superannuation. Media release 05-220, 1 August 2005
Self managed super fund adviser shut down by ASIC as super choice starts
ASIC has obtained orders in the Federal Court of Australia restraining Mr Steve Preston (formerly known as Gordon Charles Fowler) and Manito Pty Ltd, trading as Superannuation Retrieval Services, from carrying on a business relating to superannuation interests. Media release 05-205, 20 July 2005
Meeting your obligations for super choice
Tax Commissioner, Michael Carmody, and Chairman of ASIC, Jeffrey Lucy, released Choice of Superannuation Fund: Meeting your obligations, a booklet that outlines the compliance approach to super choice. Media release 05-181, 28 June 2005
ASIC guidance on giving super switching advice
We have issued a guide for advisers on complying with the law when giving personal advice about switching super funds, Media release 05-176, 24 June 2005
ASIC guidance to employers about super choice advice
We provide guidance to employers and other individuals or organisations who are likely to talk with employees about choice of superannuation fund (super choice). It covers the type and nature of information they can provide without holding an Australian financial services (AFS) licence. Media release 05-154, 10 June 2005
Industry fund services agrees to change advertising
We accepted an enforceable undertaking from Industry Fund Services Pty Ltd in relation to its super choice advertising campaigns. Media release 05-148, 3 June 2005
Four key questions about self managed super funds
ASIC and the ATO have released Is self managed super right for you?, a fact sheet suggesting four questions that people considering moving into a self managed superannuation fund should ask themselves. Media release 05-133, 22 May 2005
ASIC calculator makes super choices easier
The calculator is an essential tool for consumers considering switching super funds. From 1 July 2005, regulations require all super funds to refer to the FIDO super calculator in their product disclosure statements if people want to see the impact of fees based on their own circumstances. Media release 05-116, 9 May 2005
Super Choices: your super, your future, your choice
A new super booklet will help Australians to understand more about their retirement nest egg, make informed financial decisions, and maximise their superannuation savings. Media release 05-111, 4 May 2005
ASIC to go shadow shopping
ASIC will conduct a nation-wide shadow shopping survey to monitor the advice that financial advisers give their clients around the start of superannuation choice in July 2005’. Media release 05-79, 1 April 2005
ASIC campaigns against churning and misselling
We've commenced a campaign to assess the advice financial advisers are giving on switching financial products. The findings will also be used to consider the appropriateness of advice given to establish self-managed superannuation funds ahead of the Choice of Funds legislation, operating from 1 July 2005. Information release 04-63, 6 December 2004
