CS 4 Temporarily extend relief from disclosure and reporting consistency obligations for super trustees
Released 6 November 2023. Comments closed 4 December 2023.
Section 29QC of the Superannuation Industry (Supervision) Act 1993 (SIS Act) requires that information given to the public (e.g. in disclosure documents) be calculated in the same way that the information is reported to the Australian Prudential Regulation Authority (APRA) under an APRA reporting standard. ASIC Class Order [CO 14/541] provides relief from section 29QC of the SIS Act.
ASIC proposes to extend the exemption in [CO 14/541] for a period of two years until 1 January 2026. This means RSE licensees (superannuation trustees) would continue to be exempt from complying with disclosure obligations set out in subsection 29QC(1) of the SIS Act.
ASIC previously consulted on this relief in Consultation Paper 227 Disclosure and reporting requirements for superannuation trustees: s29QC.
Providing feedback
Industry is invited to provide feedback on ASIC’s proposal, including whether the instrument is operating effectively and efficiently and/or whether any amendments are required. Comments should be sent by 12pm on 4 December 2023 to Super.Enquiries@asic.gov.au.