Superannuation funds

This section gives guidance about superannuation reforms, compliance requirements for superannuation trustees, and ASIC's role in super.

 

ASIC's role in super

ASIC is principally responsible for the enforcement of the Corporations Act 2001 (Corporations Act) which regulates the conduct and disclosure obligations of financial services providers (including superannuation trustees that hold an Australian financial services (AFS) licence).

As the conduct and disclosure regulator, ASIC’s role primarily concerns the relationship between trustees and individual consumers. ASIC aims to look after consumers ensuring they receive proper disclosure, are dealt with fairly by qualified people, continue to receive useful information about their investment or product and can access proper complaints-handling procedures. Promoting investor and financial consumer trust and confidence is one of ASIC's strategic priorities.

More about ASIC's role in super (including the role of co-regulators).

Superannuation guidance and relief

Read our guidance on specific topics, including FAQs, letters to trustees and ASIC relief.

Super industry liaison

Find out about ASIC's superannuation industry liaison plan and engagement schedule.

Superannuation media releases

Read our media releases on superannuation.

Further resources on superannuation

This page lists helpful links on superannuation.

Related information

TopicDescription
Financial services Includes helpful links to information including legislation, media releases, our frequently asked questions.
Regulatory index Download regulatory documents and class orders relevant to superannuation trustees and administrators.
MoneySmart website Includes information for consumers about superannuation.

 

What's new

Member communications associated with the Treasury Laws Amendment (Protecting Your Superannuation Package) Bill 2018

11 April 2019

ASIC has issued a letter to superannuation industry associations to highlight expectations relating to member communications associated with the Treasury Laws Amendment (Protecting Your Superannuation Package) Bill 2018, particularly in relation to initial insurance cancellation notices to be issued by 1 May 2019.

Read the letter

ASIC and APRA publish joint letter on superannuation fees

10 April 2019

ASIC and APRA have published a joint letter to all registrable superannuation entity licensees to reinforce the importance of ensuring fees charged to members are in line with the members’ best interests.

Read the release and joint letter

Roundtable meetings on fees and cost disclosure

5 March 2019

ASIC held roundtable meetings on the RG 97 fees and costs disclosure regime:

- in Sydney on Monday 4 March 2019 at ASIC’s office at 100 Market Street, and

- in Melbourne on Tuesday 5 March 2019 at ASIC’s office at 120 Collins Street.

Find out more

RG 97 Consultation Paper

8 January 2019

ASIC had released a consultation paper seeking industry feedback on proposals to make changes to the fees and costs disclosure regime.

Read the media release

Read the consultation paper

Find out more about the consultation

Compliance time period extended for ASIC Class Order [CO 14/1252]

11 December 2018

ASIC has extended the time periods for compliance with certain aspects of the fee and cost disclosure requirements in ASIC Class Order [CO 14/1252] for one further year to their equivalent dates in 2020.

Find out more about the extension

RG 97 review

24 July 2018

The external review by Darren McShane into Regulatory Guide 97: Disclosing fees and costs in PDSs and periodic statements (RG 97) is now complete and ASIC has published Mr McShane’s report.

Read the report

ASIC appoints expert to review fees and costs disclosure settings

ASIC has appointed Darren McShane, who has extensive experience in the superannuation and managed investments industry, to conduct a review of the fees and costs disclosure requirements under RG 97. The review is expected to be completed in the first half of 2018.

Read the media release | Find out more


 

Last updated: 21/03/2014 12:00