COVID-19 – Information for superannuation trustees

ASIC has withdrawn answers to frequently asked questions about superannuation regulatory issues that have arisen from the COVID-19 pandemic that were published in 2020. This has been done as the content has ceased to be current or useful.

For further information see:

What's new

ASIC warns super trustees to be transparent in their underperformance communications to members

24 June 2022

ASIC has released the findings from its review of superannuation trustees’ communications with their members following the first annual performance test for MySuper products.

Read the media release

Read the report

Avanteos Investments penalised $1.7 million for defective disclosure statements

15 June 2022

Avanteos Investments Limited, a former subsidiary of the Commonwealth Bank, has been convicted and penalised $1,710,000 by the County Court of Victoria for failing to update defective disclosure statements to superannuation members.

Read the media release

ASIC remakes relief on PDSs, superannuation dashboards and FSGs

14 June 2022

ASIC has remade and combined seven legislative instruments relating to specific financial services disclosure requirements.

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How to avoid ‘greenwashing’ for superannuation and managed funds

14 June 2022

ASIC has released information sheet to help trustees avoid ‘greenwashing’ when offering or promoting sustainability-related products. The publication will also assist trustees to provide investors with the information they should have to make informed decisions.

Read the media release 

Read the information sheet

Infringement notices issued to Maritime Super for member fee statements

27 April 2022

Maritime Super Pty Ltd has paid $26,640 to comply with two infringement notices issued by ASIC. The notices concerned alleged misleading statements made to members about Maritime’s investment partnership with Host-Plus Pty Ltd.

Read the media release

Westpac penalised $113 million after multiple ASIC legal actions

22 April 2022

The Federal Court has ordered Westpac to pay penalties in the amount of $113 million for widespread compliance failures across multiple businesses, including Westpac’s banking, superannuation, wealth management and insurance brands.

Read the media release

 

Last updated: 06/12/2021 04:43