ASIC and APRA letter to superannuation trustees on impact of COVID-19
1 April 2020
The unusual and challenging circumstances associated with COVID-19 require trustees to make new business arrangements, amend priorities and adjust their short-term investment strategies. What does not change is their duty to comply with the law, including the duty to act in the best interests of their members. At a time of uncertainty, this is essential to maintaining public confidence that superannuation remains a safe, fair and sound long-term investment towards retirement.
ASIC and APRA have written to all registrable superannuation entity (RSE) licensees reminding trustees of their obligations during this time.